Atrium Hospitality Adds Three Branded, Full-Service Hotels to Its Management Portfolio

USA, Alpharetta, Georgia. November 27, 2019

Atrium Hospitality has assumed the management of three U.S. hotels from Winegardner & Hammons Hotel Group, an affiliate of the Pyramid Hotel Group. Comprising a combined 612 keys, the properties, located in Kentucky and Ohio, represent the well-known brands of Marriott, Embassy Suites by Hilton, and Holiday Inn. Since 2014, Atrium Hospitality has been one of the fastest-growing hotel management companies in the United States and is currently ranked as the sixth-largest management company (ranked by gross annual revenue end of 2018) by Hotel Business® (April 21, 2019 issue).

Atrium's management acquisition of the three properties continues the company's rapid expansion and increases its portfolio of assets under management to 84 hotels and 20,897 guest rooms/suites in 28 states. The company controls more than 3 million square feet of flexible event space and adds almost 30,000 square feet of meeting space associated with the management opportunities. The transition is effective immediately and is anticipated to be seamless to the thousands of guests that frequent the three full-service hotels.

"We are focused on expanding the Atrium Hospitality management portfolio with the right strategic opportunities," said Atrium Hospitality President Daniel Abernethy. "We welcome our newest associates to the Atrium family with the addition of three branded hotels in Ohio and Kentucky, which are ideally situated near a mix of demand generators of business, education, entertainment and retail."

Abernethy continued, "At the heart of our ongoing expansion and operating success is growing our people. We are investing in shaping the hospitality industry's talent of today and tomorrow as we add more hotels and career advancement opportunities for our nearly 10,000 associates. We are encouraging a culture of perseverance, respect, service and teamwork."

Portfolio Expansion Lineup

Joining Atrium Hospitality's award-winning management portfolio are the following three hotels:

- Columbus Airport Marriott in Columbus, Ohio: This 227-room/suite property is recognized as a TripAdvisor® GreenPartner eco-friendly hotel and features the exclusive M Club Lounge, the RiverCity Grille for steak and seafood, and 17 flexible meeting rooms totaling 12,309 square feet of event space. The Columbus Airport Marriott is operated by Atrium Hospitality under license from Marriott International, Inc. or one of its affiliates.

- Embassy Suites by Hilton Lexington/UK Coldstream in Lexington, Kentucky: This 2019 TripAdvisor® Certificate of Excellence designated hotel is in the heart of Kentucky's Bluegrass Country at the University of Kentucky Coldstream Research Campus. The 230-suite property offers guests a complimentary made-to-order breakfast, a nightly two-hour reception with drinks and snacks, a newly renovated fitness center, and 13 meeting rooms featuring 14,000 square feet of event space, including a ballroom for up to 800 guests.

- Holiday Inn Cincinnati Riverfront in Covington, Kentucky: Located in the center of Covington's business and entertainment district near downtown Cincinnati, this newly renovated, 155-room/suite hotel provides close proximity to large companies and leisure attractions. An on-site fitness center, an outdoor pool, 2,370 square feet of event space, and a relaxed-atmosphere restaurant open for breakfast, lunch and dinner are just a few of the hotel's amenities. The Holiday Inn Cincinnati Riverfront earned the 2019 AAA Inspector's Best Of Housekeeping award for having the highest possible cleanliness and condition scores.

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Hotel Revenue Management continues to evolve at a blistering pace. Driven by technological innovation and new distribution channels, there are some dynamic opportunities for expansion in this fast-growing field. The technology is primarily designed to help revenue managers further refine their operations and pricing models to maximize hotel profit. For example, hotels can't be all things to all people, so a key strategy is to precisely identify their target audience. By employing geo-targeting techniques and analyzing behavior such as previous bookings, on-property purchases and online shopping practices, there is an increased capability to define guest demographics. By segmenting customers in more specific ways, hotels are able to create more personalized experiences which, in turn, allow managers to optimize their room rates. It is also an effective way to fulfill the unique needs and preferences of the individual. Another methodology is to consistently monitor the competition's pricing strategies. There are software tools that analyze a competitor's current rates, and then allow a hotel to make its own pricing adjustments. It is also a useful means to conduct forecasting models. Other technologies that are being integrated into a revenue manager's toolkit include Artificial Intelligence in the form of automated algorithms, and Voice Recognition (VR) for data inquiries, rate changes, and booking behavior. Predictive and analytic software programs are also being leveraged to provide more forward-looking data, instead of the usual reliance on historical performance. These metrics allow managers to be more proactive - rather than reactive - with their revenue strategy. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.