Hospitality Ventures Management Group, an Atlanta-based, private hotel management and investment company, has taken over management of the 174-room DoubleTree by Hilton Hotel Atlanta - Roswell. This marks HVMG’s fifth Atlanta hotel announced in the past 60 days, bringing the company’s Atlanta-based portfolio to 12 out of 52 hotels nationwide and the 10th new hotel transaction since July.
“With the recent addition of the 344 room Marriott Atlanta Perimeter Center, we continue to expand our operating platform in our hometown of Atlanta,” said HVMG President and CEO Robert Cole. “As we set our sights on additional growth, we will continue to partner with leading owners with both branded and independent hotels and resorts nationwide. Having worked through multiple downturns in the past, HVMG is uniquely positioned to maximize asset values as the industry continues the climb back from the impact of COVID-19.”
“HVMG’s expert knowledge of the hospitality industry in general and Atlanta in particular, made the partnership an obvious choice,” said Norman Radow, managing director of Radco, the DoubleTree’s new owner. “Atlanta and the surrounding region are growing faster than other markets, and there is a compelling need for good quality yet value priced hotel experiences. HVMG can give us that quality service and at a price our customers can afford.”
Radco’s investment plans for the asset include a $6.25 million/$36,000-per-key capital improvement plan largely consisting of upgrades and modernization of the guestrooms and guest bathrooms, common areas, mechanicals and technology to maintain brand standards.
The DoubleTree by Hilton Hotel borders Alpharetta in the North Atlanta suburb of Roswell. The property has an outdoor pool, fitness center, shuttle service within five miles, business center and more than 12,000 square feet of meeting space. The Dogwood Café and Dogwood Lounge serve as socializing spots.