JRK Hotel Group Growing Its Management Platform
Los Angeles, CA - April 19, 2011 - JRK Hotel Group, with properties located in New York City, Los Angeles, Santa Barbara, and Nashville, is evolving their current platform to include 3rd party management contracts. JRK's success is a combined formula of leading markets in RevPAR through revenue management, sales, and customer service, while also driving NOI growth through aggressive expense controls. The hotel group is now seeking to manage additional flagged or independent properties to continue to add to their current collection, which includes: Oceana Santa Monica & Santa Barbara, Hotel Roger Williams in New York, and the nation's largest Holiday Inn Express in Downtown Nashville. In October 2010, JRK took on their first management deal when they retained management during the sale of Hotel Roger Williams to La Salle Property Holdings.
“We have a proven management record of driving both top line and NOI growth over and above what other operators in the hotel management arena are doing,” said John Flannigan, President of JRK Hotels. “Taking on management deals is a natural progression for our company as we have always owned and operated properties with extremely high standards and this is another avenue to grow our hotel portfolio.”
While JRK's current mission is to grow hotel management deals, the group will continue to focus on acquisitions or joint ventures in the top 25 hotel markets. JRK brings sixteen years of hotel ownership experience and with its creative and dynamic management team, is poised to grow its portfolio in 2011.
About JRK Hotel Group :
JRK Hotel Group, a division of JRK Property Holdings, owns and operates premium boutique hotel properties around the country, including the Oceana Santa Monica, the Hotel Oceana Santa Barbara, the Roger Williams New York, and the largest Holiday Inn Express in the nation, located in Nashville, Tenn. JRK is committed to offering guests modern, luxurious accommodations with all the comforts of home, boasting residential design influences, high-tech amenities, and world-class customer service. For more information on JRK Hotel Group, please visit: jrkhotels.com.
About JRK Property Holdings, Inc :
JRK Property Holdings is a fully integrated owner and operator of multifamily, hospitality and self-storage properties. JRK's portfolio is valued in excess of $4.0 billion, generates over $300 million in annual revenues and consists of over 42,000 multi-family units, 1,885 self-storage units and hotels in New York City, Santa Monica (CA), Santa Barbara (CA), and Nashville. JRK also manages a $203 million private equity fund through its JRK Investors subsidiary and is currently in the process of raising a new fund. For more information, please visit: http://www.jrkpropholdings.com.
For additional information:
Kristen Chester
kchester@jrkhotels
310.689.1121
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