Hospitality Ventures Management Group to oversee Texas hotel

The new Residence Inn by Marriott Waco/South will be a seven-minute drive from the existing Residence Inn by Marriott Waco. Photo credit: Marriott International

Atlanta-based private hotel investment, ownership and management company Hospitality Ventures Management Group is set to manage the under-construction 104-room Residence Inn by Marriott Waco/South in Texas. 

Owned by hospitality ownership/development/construction management company Heritage Hospitality Group, the hotel is expected to officially open in mid-July. The property will be a seven-minute drive from the existing Residence Inn by Marriott Waco.

“The Residence Inn by Marriott Waco/South marks our fifth hotel in Texas and our 20th Marriott-branded property,” said Robert Cole, president/CEO, HVMG. “Our familiarity with both the market and the brand will allow us to ramp up quickly as the hotel begins its run towards segment leadership for guests looking for a little more space. Additionally, our ability to create economies of scale and share best practices will benefit the hotel’s profitability and guest satisfaction scores.”

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Designed for long stays, the hotel's suites will have separate living, working, and sleeping zones. To facilitate meals, each suite will have a fully functional kitchen and the hotel will have complimentary grocery delivery service, 24-hour markets and complimentary breakfast. The four-story hotel is near the Hillcrest Baptist Medical Center, Baylor University and multiple corporate entities and situated within the Central Texas Market Place development. 

“HVMG easily stood out from the competition as the only operator for this unique hotel,” said Hiren “Chico” Patel, CEO, founder and managing principal of Heritage Hospitality Group. “Waco is one of Texas’ hidden gems, with more than 1.7 million visitors in the first seven months of 2018 alone.”

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