Editorial Board   Guest Author

Mr. Richards

Kevin Richards

Chief Operating Officer, Legacy Ventures

Kevin Richards joined Legacy in 2011 to launch the firm's hotel management division. Mr. Richards oversees all managed hotel assets and is a central player in the company's hospitality development work.

Mr. Richards has over 30 years of experience in the hospitality industry, which began in earnest with hotel general manager roles early in his career with Winegardner & Hammons and Prime Hospitality.

Prior to joining Legacy, he served as vice president of Asset Management with Lodgian, Inc., an owner and operator of over 100 hotels in 34 states, where he contributed to capital planning and investment strategies, implementation of property improvement plans, brand conversions, and renovations for the Lodgian portfolio.

Founded in 1996, Legacy Ventures began as a real estate development company specializing in hotels, resorts and restaurants. Projects range in size from $10 million to $100 million and often involve complex financial structures or public-private collaborations.

Legacy Ventures has an in-house design and construction team that includes architects, interior designers, engineers, and general contractors. In 2012, Legacy Ventures formed its hospitality division to manage or asset manage hotels. Today it manages seven dynamic full-service properties representing 1,500+ guest rooms with annual revenues exceeding $85 million.

In addition, Legacy Venture's restaurant division created and operates six distinctive branded restaurants and leases an additional four. Legacy Ventures responds thoughtfully to the built environment as a cohesive team of planners, developers, hoteliers and restaurateurs. Legacy Ventures innovates with a multi-disciplined approach to create timeless places - delivering exceptional customer experiences through an engaged and passionate team, yielding measurably better results for partners and investors. Legacy Ventures' promise is: “Thoughtfully Enhancing The Built Environment.™

Mr. Richards is a graduate of West Virginia University with a Bachelor of Science degree from the School of Business and Economics.

Please visit http://www.lvmgt.com for more information.

Mr. Richards can be contacted at 404-801-3260 or krichards@lvmgt.com

Coming up in May 2019...

Eco-Friendly Practices: Corporate Social Responsibility

The hotel industry has undertaken a long-term effort to build more responsible and socially conscious businesses. What began with small efforts to reduce waste - such as paperless checkouts and refillable soap dispensers - has evolved into an international movement toward implementing sustainable development practices. In addition to establishing themselves as good corporate citizens, adopting eco-friendly practices is sound business for hotels. According to a recent report from Deloitte, 95% of business travelers believe the hotel industry should be undertaking “green” initiatives, and Millennials are twice as likely to support brands with strong management of environmental and social issues. Given these conclusions, hotels are continuing to innovate in the areas of environmental sustainability. For example, one leading hotel chain has designed special elevators that collect kinetic energy from the moving lift and in the process, they have reduced their energy consumption by 50%  over conventional elevators. Also, they installed an advanced air conditioning system which employs a magnetic mechanical system that makes them more energy efficient. Other hotels are installing Intelligent Building Systems which monitor and control temperatures in rooms, common areas and swimming pools, as well as ventilation and cold water systems. Some hotels are installing Electric Vehicle charging stations, planting rooftop gardens, implementing stringent recycling programs, and insisting on the use of biodegradable materials. Another trend is the creation of Green Teams within a hotel's operation that are tasked to implement earth-friendly practices and manage budgets for green projects. Some hotels have even gone so far as to curtail or eliminate room service, believing that keeping the kitchen open 24/7 isn't terribly sustainable. The May issue of the Hotel Business Review will document what some hotels are doing to integrate sustainable practices into their operations and how they are benefiting from them.