While hotel occupancy may be down, management companies are still in high demand for independent properties across the country.
Atlanta-based private hotel investment, ownership and management company Hospitality Ventures Management Group has signed a management agreement to operate the 63-room Inn On Broadway in Lexington, Ky.
“Particularly during the current environment, hotel owners are turning to trusted and proven operators to help their hotels maximize performance and weather the on-going crisis,” said Robert Cole, president/CEO, HVMG. “HVMG has been through the highs and lows of multiple cycles, making us as prepared as possible to navigate through the pandemic. We have come up with a number of solutions and adjustments to our business model and operating cost structure to mitigate the downturn in revenue while also keenly focused on revenue share shifting.”
The four-story hotel is close to the University of Kentucky, Red Mile and Lexington Convention Center, and is less than 6 miles from the Blue Grass Airport and the Keeneland Thoroughbred Racecourse. “The hotel benefits from an irreplaceable location in downtown Lexington, with numerous demand generators for both business and leisure travelers,” Cole added. “The property will be undergoing an extensive and comprehensive renovation in the foreseeable future and repositioned as an upscale independent boutique hotel. HVMG looks forward to bringing our extensive management and resource platform to execute this plan and increase ownership value.”
Hospitality management firm Davidson Hotels & Resorts has added the Snowpine Lodge to its portfolio. Located slopeside with access to the Alta mountain ski area in Alta, Utah, the resort has 54 guestrooms and suites; 14 dorm beds; the Stillwell Spa; more than 10,000 square feet of indoor/outdoor event space; two restaurants; a game room; a mountain-side pool and hot tubs, fitness center and yoga studio; outdoor firepits; ski lockers and the Deep Powder House Ski Shop. The resort is operated by Davidson’s lifestyle and luxury division Pivot Hotels & Resorts.
“As avid outdoor enthusiasts with extensive resort experience, we are honored to welcome the Snowpine Lodge to the Pivot family,” said Thom Geshay, president of Davidson Hotels & Resorts.
The Snowpine Lodge is both the newest and oldest building in Alta: The original structure was erected as a general store when mining was the primary industry within the Albion Basin. In 1938, the Snowpine Lodge got its current name and became a skier’s lodge. After a complete rebuild, the property reopened its doors in January 2019.
“Pivot has had tremendous success with independent, lifestyle and destination resort properties, thus instilling a high level of confidence in our family’s selection,” said David Pratt, partner. “Alta is an important part of our family, not just for our love of skiing together, but dates back to when my great-great-grandfather, Swen O. Nielson, worked in Alta’s Emma Mine in the late 1800s—the restaurant is named Swen’s in honor of him. The Snowpine Lodge is more than just an asset to our family; it’s our deep-rooted legacy. We are confident that in Pivot, we have selected partners that will be true stewards of this establishment that continues to shape Alta history.”
Castle Resorts & Hotels was selected as the new resort management company for the new Bamboo Waikiki Hotel, formerly the 92-room Aqua Bamboo Waikiki, in Hololulu.
“We are extremely excited to add this one-of-a-kind boutique hotel to our portfolio, especially in light of the current pandemic,” said Castle Hospitality Group President and CEO Alan Mattson. “Hawaii will always be one of the most sought-after destinations for travelers and this is a vote of confidence in the future of Hawaii’s global visitor industry.”
The Bamboo Waikiki Hotel has standard city view rooms, suites with kitchenettes and one-bedroom suites equipped with full kitchens and private lanai. Outdoor areas include a lava rock-lined pool with waterfall, jet spa, barbecue grill and cabana. The property is completing a $5 million renovation, which will be completed by the fall of 2020.
“Castle Resorts & Hotels has an excellent track record of managing properties across the Hawaiian Islands,” said Bruce Correll, president of the Bamboo Association of Apartment Owners. “Their ability to provide guests with an exceptional Hawaii experience, locally based customer service and success at managing the bottom line made them the perfect choice for us.”
Castle Resorts & Hotels manages two other properties on Oahu, the Waikiki Grand Hotel and Waikiki Shore.