Northwest Hospitality Announces Name Change to Vesta Hospitality
VANCOUVER, WA, January 9, 2007. Richard E. Takach, president and CEO of Northwest Hospitality Group, LLC. announced today that the company will operate under the name "Vesta Hospitality," moving forward.
"After a decade of tremendous success as Northwest Hospitality Group, our organization looked toward the future and found that what we called ourselves -- and what we do and aspire to - were no longer aligned," said Takach. "Our geographic reach has expanded, and our corporate personality has taken a new, more clearly defined, form. As we reached our ten-year milestone, it was clearly the time to embrace a truer, more literal expression of who we now are as an organization."
In Roman myth, Vesta is the goddess of home and hearth, whose primary responsibility was making the house a welcoming home for its occupants. This deity held a prominent place in every family's worship rituals, with her image often integrated into the family's house altar.
"We are passionately committed to providing the most welcoming of environments for our guests; a supportive and secure place of employment for our staff; and a consistent value with strong financial returns for our partners in business," said Takach. "Our belief is that the Vesta name conveys the sense of security and comfort we aim to provide."
Vesta Hospitality currently has 12 hotels, with an additional two that have recently broken ground. Brands in the company's owned-and-managed portfolio include Homewood Suites, Renaissance, Staybridge Suites, Country Inn & Suites and Best Western. It also holds third-party management contracts for several brands, including Holiday Inn, Homewood Suites, Best Western and several independent properties. The company is approaching 1,000 employees.
The company celebrated its ten-year anniversary in October.
About Vesta Hospitality, LLC (formerly Northwest Hospitality Group/www.nwhosp.com)
Founded in 1996 as Northwest Hospitality Group, and headquartered in Vancouver, Wash., Vesta Hospitality, L.L.C. is a fully integrated hospitality development and management entity. Currently, Vesta Hospitality's portfolio includes 12 properties, six owned and self-managed, and six others managed for other ownership entities, including Acacia Housing Partners, L.P. and Columbus Hotels Properties. The company is actively seeking acquisition opportunities and expects to add three to five additional properties to its portfolio over the next 12 months. Through ownership and management, Vesta Hospitality's states of operation now include Washington, Oregon, Utah, California, New Mexico, Nebraska, Texas and Georgia.
CONTACT:
Jane Berger
1.248.258.2333
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