A number of hotel management companies have added to their portfolios in recent weeks. Here are some notable agreements to know.
Crestline Hotels & Resorts
Dallas-based Realty Capital Partners has selected Crestline Hotels & Resorts to manage the 103-room Hyatt Place Keystone in Colorado.
Located 70 miles from Denver, the Hyatt Place Keystone has three conference rooms with 2,187 square feet of event space as well as 2,252 square feet of outdoor patio space overlooking the Rocky Mountains. The hotel provides a complimentary shuttle to Keystone Mountain Resort. Other amenities include outdoor hot tubs and a 24-hour StayFit Gym with cardio equipment.
Murphy Asset Management conducted a management company selection process to help Realty Capital Partners choose the operator. “We ran a competitive process getting feedback from some very good hotel operators,” Steve Steinberg, president of Murphy Asset Management said in a statement. “We elected Crestline because of their proven track record in this region.”
Crestline manages 130 hotels, resorts and conference centers with a total of 18,400 rooms in 30 states and the District of Columbia.
Essex Hotel Management
Essex Hotel Management has added TownePlace Suites by Marriott Fort Myers Estero, Fla., to its portfolio of East Coast hotels. This addition brings the total count of hotels under Essex's management to 15 and adds a third Marriott brand to the company’s collection. The hotel is midway between the popular beach destinations of Naples and Fort Myers, Fla.
Countryside Hotels, an affiliate of one of Essex's long-standing capital partners, recently acquired the property. Essex helped identify the hotel, lead the due diligence process, facilitated the franchise application and also entered as a minor equity partner.
The property has 114 studio, one- and two-bedroom suites with full kitchens and dedicated living and sleeping areas. Amenities include an outdoor pool, fitness center and the Coconut Cove bar with an adjacent patio and fire pit.
The property will undergo a full refresh in the coming months that will include new soft seating, carpeting, flooring and window treatments.
Prominence Hospitality Group
Chicago-based real estate investment, development and hotel management company Prominence Hospitality Group is now managing the Courtyard Albion, Mich. Owned by nearby Albion College, the 75-room hotel is a core anchor in the redevelopment of the city’s downtown area. The Courtyard Albion is the second Michigan hotel and fourth Marriott to join the Prominence portfolio.
Prominence Hospitality Group launched in 2018 and now has 15 properties in its portfolio.
MMI Hotel Group
MMI Hotel Group—an operator of core, lifestyle and destination resorts and hotels primarily in the Southeast United States—has been selected to operate Fontana Village Resort & Marina in Fontana Dam, N.C.
Fontana Village is a Smoky Mountains resort property covering approximately 356 acres that includes a 91-room lodge, 124 cabins, two restaurants, a general store, two swimming pools (including a lazy river), multi-purpose sports fields/courts, a post office building, a 60-slip marina with 18 floating cabin moorings, horse stables and public trails. The resort also has an 18-hole miniature golf course.
The Lodge has rooms with fireplaces and balconies as well as poolside cabanas. Cabins range from one- to four-bedroom units with living rooms, kitchens and private porches. Dining options include The Mountview Bistro, The Wildwood Grill and The Bear’s Den Lounge.
Practice Hospitality
Arkansas-based development and real estate company Blue Crane has selected Dallas-based Practice Hospitality to operate an independent lifestyle hotel under construction in downtown Bentonville, Ark., after a nationwide search.
Scheduled to open in the second half of 2024, the as-yet unnamed and unflagged hotel will occupy the corner on East Central Avenue and SE A Street overlooking the Downtown Square. The new hotel will have 142 guestrooms, a ground-floor destination restaurant and café, 3,300 square feet of meeting space and a second-floor cocktail bar.
Upon opening, the hotel will be Practice Hospitality’s sixth lifestyle property under management. Bashar Wali, formerly president & CEO of Provenance Hotels, launched Practice Hospitality in late 2020 with the opening of Hotel Colee, the first Autograph Collection Hotel in Atlanta’s Buckhead neighborhood.
Island Hospitality Management
Island Hospitality Management—a third-party management company specializing in select-service and upscale, extended-stay hotels—is the new operator of the 165-room Hampton Inn & Suites Newark – Harrison (N.J.) Riverwalk.
The hotel is close to both MetLife Stadium and Prudential Center. Newark Penn Station is less than a mile from the hotel and provides access to New York City. The pet-friendly hotel has a fitness room.
Island Hospitality Management operates more than 85 properties under 20 different brands