The Allen Morris Co. and Stormont Hospitality Group revealed plans to form a new enterprise focused on acquiring, building and managing new hotel projects. Called AMS Hospitality, it has plans to develop hotels in Georgia, North Carolina and Florida.
The venture will formally launch with the closing of two new lifestyle hotel development projects in Atlanta: The 176-key Star Metals Hotel, slated for completion in Q4 2021, will focus on the local leisure and transient market. It will join the Star Metals District, which also includes Star Metals Residences, Star Metals Offices and a retail component. The 205-key Midtown Union Hotel, scheduled for completion in 2022, will have a more corporate business focus. The hotel is being developed in partnership with MetLife Investment Management.
“We are elated about formally entering the hospitality space with one of the industry’s finest and most respected team of professionals,” W. Allen Morris, chairman/CEO of The Allen Morris Co. and principal of AMS Hospitality, said in a statement. “The new company will be working with all major hotel companies and their respective brands, while also developing a series of local independent boutique hotels.”
AMS Hospitality also has additional hotels in its pipeline in Georgia, North Carolina and Florida. It plans to announce more details on these projects throughout 2020.
Representatives from The Allen Morris Co. and Stormont Hospitality will comprise the board of AMS Hospitality. All former Stormont Hospitality employees have become employees of the new venture.
“The potential of the two organizations formally joining is extraordinary when taking into account the Allen Morris Company’s financial capabilities and six-decade-long reputation for developing first-class projects and our own capabilities in the hospitality space,” Jim Stormont, co-founder of Stormont Hospitality and president of AMS Hospitality, said in a statement.