Hospitality Ventures Management Group (HVMG) Chosen as Operator of 116-Room DoubleTree by Hilton Vail, Colorado

USA, Atlanta, Georgia. January 31, 2019

Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, has announced it has taken over management of the 116-room DoubleTree by Hilton Vail, Colorado. The hotel marks the company's 20th hotel addition in 2018 resulting in a record growth year.

“With the exciting addition of the DoubleTree by Hilton Vail, HVMG's portfolio grew more than 50 percent in 2018,” said Robert Cole, president & CEO, HVMG. “With our depth and expertise operating upper upscale, destination properties and resorts, we are well equipped to quickly improve the market share and profitability of this property. We ended 2018 on a high note, which included assuming management of the brand new Hard Rock Hotel Daytona Beach and the opening of the new Embassy Suites by Hilton St. Augustine Beach Oceanfront Resort, and we see 2019 as having further opportunities to grow our portfolio and strengthen our operating results.”

The Vail hotel recently underwent a transformative renovation and conversion to the DoubleTree by Hilton brand. The completely reimaged and “like-new” hotel is located at 2211 N. Frontage Road in Vail, Colo., a short shuttle ride to Vail Mountain Resort, and proximate to Beaver Creek. With a “Mountain Modern” design, the hotel features a lodge-inspired lobby and bar with a ten-foot, double-sided glass fireplace framed by a dramatic LED-accented slate wall and plenty of comfortable/casual and family friendly seating to encourage guests to hangout après ski and after dinner. Decor features natural aesthetics, including wood walls throughout the lobby, bar and great room; front desk framed by a stunning, art-accented, charred wood, wall backdrop; modern, large format, white tile throughout the lobby, great room and corridors; and custom framed prints that provide a sense of place. Guest rooms were designed for skiing families, and finishes are true to the Modern Mountain design aesthetic, featuring wood walls accenting comfy, pleather headboards, “live edge” style wood desks and built-in, wood-trimmed “portals” housing refrigerators, in-room safes and coffee makers. Most regular guest rooms provide daybed sofas that can be utilized for additional sleeping capacity in both double queen and king rooms.

Guests are invited to dine at one of the hotel's three restaurants. Pivot62, housed in the hotel's beautiful lobby with high ceilings and large windows overlooking the mountainside, provides shareable plates and local craft beer. The Westside Cafe, a famous breakfast place among locals and tourists alike, serves casual American classics for three meals daily, and the Casa Mexico offers authentic, made-to-order Mexican food serving lunch and dinner. Guest also can order room service or pick up grab-n-go items from the Colorado Made Market.

“Vail, Colorado has an exceptional reputation as one of the premier locations for winter sports, routinely listed in the top 10 of SKI Magazine's Annual Resort Rankings,” Cole added. “Guests come to the area expecting the latest amenities and luxuries after spending a long day on the slopes. The recent conversion, coupled with our hardworking on-site and corporate support teams, ensures that the DoubleTree by Hilton Vail will be a source of many wonderful memories for leisure, group and business travelers alike.

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Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.