Hospitality Ventures Management Group (HVMG) Assumes Management of Four-Hotel Portfolio

USA, Atlanta, Georgia. July 16, 2020

Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced it has assumed management of a four-hotel portfolio of upper upscale and upscale independent and Hilton-branded hotels located in Fla., Okla., and Texas. The 248-room Hilton Dallas/Southlake Town Square, the 227-room Hilton St. Petersburg Carillon Park, the 161-room Hilton Garden Inn Oklahoma City Airport and the 139-room Islander Resort on the beach in Islamorada, Fla., are owned by Hobbs & Curry Family Limited Partnership, LLP, a private owner and developer of hotels across the United States.

"As the industry enters the next phase towards recovery, owners want experienced operators with true differentiators that stand out. We have not only weathered previous downturns, but have actual case studies and proven results of turning around underperforming hotels and maximizing their bottom line profitability, through both the ramp up of revenue and the reduction of payroll and expenses," said Robert Cole, president & CEO, HVMG. "HVMG has undergone multiple economic cycles, and while this coronavirus is certainly in a class of its own, there are overarching lessons we have learned and strategies we can implement from previous cycles. We will continue utilizing those experiences and best practices for this portfolio."

Hilton Dallas/Southlake Town Square

Located at 1400 Plaza Place, the Hilton Dallas/Southlake Town Square is nestled among 200-plus specialty shops, restaurants and entertainment venues in Southlake Town Square. Hotel amenities include an outdoor pool, 24-hour fitness center and more than 19,000 square feet of meeting space. Guests may choose to dine at Copeland's, the hotel's New Orleans-style, three-meal-daily (and brunch on Sundays) restaurant that features seafood, pasta, salads, steaks and desserts. Guest rooms provide oversized work desks with wireless and hardwired Internet outlets, two telephones and the Hilton Serenity Bed with luxury linens.

Hilton St. Petersburg Carillon Park

Within three miles of St. Pete-Clearwater International Airport, the 9-story Hilton St. Petersburg Carillon Park is minutes from Howard Franklin Bridge, downtown St. Petersburg, Tropicana Field and The Dali Museum. Guests may enjoy complimentary Wi-Fi throughout the hotel, outdoor pool, airport shuttle and fitness center. Business travelers will appreciate the hotel's state-of-the-art business center and nearly 16,000 square feet of meeting space. Dining options include Luna, a sustainable eatery specializing in appetizing, health-conscious choices. Guest rooms offer views of Carillon Nature Reserve and Lake Carillon, as well as an oversized desk with ergonomic chair, Wi-Fi access and services on remote printing.

Hilton Garden Inn Oklahoma City Airport

Situated just off I-40, the Hilton Garden Inn Oklahoma City Airport is 10 minutes from Will Rogers World Airport via complimentary hotel shuttle. The hotel is within five miles of Cox Convention Center, Chesapeake Energy Arena and Myriad Botanical Gardens. Amenities include an outdoor pool, whirlpool and fitness center, as well as a business center and four meeting rooms totaling more than 1,500 square feet. The hotel also features the Garden Grille, which is popular for meals throughout the day, and its bar is a hotspot for business and leisure travelers alike. Guest rooms are equipped with complimentary Wi-Fi, desk and ergonomic chair, microwave, mini-refrigerator and 32-inch HDTV.

Islander Resort

Luxurious accommodations on 24-plus oceanfront acres, the Islander Resort offers views of gorgeous native gardens and the relaxing sounds of the Atlantic Ocean. All ground-floor rooms offer 50" 4K luxury Smart TV, dry bar, microwave, refrigerator with freezer bottom and Cuisinart coffee maker. Additional touches include plantation shutters and screened-in patio with furniture. Resort amenities include two saltwater pools, hot tub, splash pad and private cabanas. Guests also may enjoy the 1,100 foot coral sand beach and protected swim area. Guests may dine at Elements Lounge & Restaurant, showcasing the bountiful seafood of Florida Keys, or at Tides Beachside Bar & Grill, featuring a Keys style, casual menu.

"We are very familiar with these markets and brands and also have great depth in the independent resort segment," Cole noted. "We look forward to applying our best practices to these stunning properties as we collectively navigate our way forward to a return of profitability."

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Hotel Group Meetings: Demand vs. Supply

It is a great time for hotel group meetings. It is expected that once again this sector will grow by 5-10% in 2020, partly due to the increasing value of in-person group meetings. Because people now spend so much time in front of their screens, face-to-face interactions have become a more treasured commodity in our modern world. Plus, the use of social media reinforces the value of engagement, discussion, conversation, and networking - all areas where group meetings shine. Despite this rosy outlook, there is a concern that demand for meetings far exceeds the supply of suitable venues and hotels. There are very few "big box" properties with 500-plus rooms and extensive conference facilities being built, and this shortage of inventory could pose a serious challenge for meeting planners. In addition to location concerns, the role of the meeting planner has also evolved significantly. Planners are no longer just meeting coordinators - they are de facto travel agents. Cultural interactions, local dining, experiential travel, and team-building activities are all now a part of their meeting mix. Plus, they have to cater to evolving tastes. Millennials are insisting on healthier venues and activities, and to meet their demands, hotels are making yoga breaks, fresh-pressed juices, plant-based diets, state-of-the-art gyms, and locally-sourced menus available. Millennials are also insisting that meeting venues practice Corporate Social Responsibility, which means upholding sustainable and ethical values; investment in the local community; health and well-being of employees; and general business practices that reflect being good citizens of the planet. Finally, there is a growing trend to merge meetings with other local events, such as music festivals, sporting events, and cultural attractions. The December Hotel Business Review will report on issues relevant to group meetings and will document what some hotels are doing to support this part of their operations.