HVMG Expands Portfolio with Eight New Hotels in 2024
Hospitality Ventures Management Group Expands Its Portfolio
Hospitality Ventures Management Group (HVMG) has made headlines by announcing the addition of eight new hotels to its expanding portfolio in 2024. This strategic move underscores HVMG's ongoing growth trajectory, now boasting a total of 51 properties across the nation. The newly added hotels feature a diverse selection, encompassing Marriott and Hilton brands that cater to various market segments, including lifestyle, select-service, full-service, and extended-stay categories.
Impressive Growth Metrics
2024 is shaping up to be a remarkable year for HVMG. The company has successfully achieved portfolio-wide Revenue per Available Room (RevPAR) Index growth for the fourth consecutive year, adding to the continuing trend of nine years of growth out of the last ten. Robert Cole, the president and CEO of HVMG, noted that this growth equates to about 1,200 new rooms integrated into their portfolio, translating to over $60 million in additional asset value for owners due to an improved average flow-through ratio.
Internal Culture Recognition
In addition to its outstanding financial performance, HVMG's commitment to creating a positive working environment has garnered accolades. For six years running, HVMG has made it into the top 20 of the Atlanta Journal-Constitution's Atlanta’s Top Workplaces. This recognition reflects excellent associate feedback derived from third-party surveys, showcasing the company's commitment to both employee satisfaction and performance.
Focus on Talent Development
HVMG emphasizes the importance of developing and recruiting exceptional talent. The company has initiatives such as the Talent Acquisition Center of Excellence (TACOE) and the XLR8 leadership development program. These programs not only enhance the skills of their associates but also contribute to the premium financial returns for their partners. Cole highlighted that the internal culture, focused on excellence, has been pivotal to their success.
About Hospitality Ventures Management Group
Founded as a privately owned, fully integrated hotel management and investment entity, Hospitality Ventures Management Group specializes in revitalizing underperforming hotels and maximizing the performance of established ones. Currently, HVMG manages 51 properties and one convention center spread across 17 states, offering more than 8,700 guest rooms. They operate a variety of hotel types, including independent and boutique establishments, as well as well-known brands like Marriott, Hilton, Hyatt, Hard Rock, and IHG. For further details, visit their official website to learn more about their impressive portfolio and hotel management services.
Frequently Asked Questions
What is the latest addition to HVMG's portfolio?
HVMG recently added eight new hotels, increasing its total to 51 properties.
What brands are included in HVMG's new hotels?
The new hotels feature brands from Marriott and Hilton across various service categories.
How many new rooms did HVMG add in 2024?
In 2024, HVMG added nearly 1,200 new rooms to its portfolio.
What recognition has HVMG received for its workplace culture?
HVMG has been recognized as one of Atlanta's Top Workplaces for six consecutive years.
What is the focus of HVMG's talent development programs?
The company focuses on creating excellent talent through its TACOE and XLR8 programs to enhance employee skills and satisfaction.
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