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HomeHotels & LodgingInvestra Capital Group Ltd and HVMG complete joint venture acquisition of 12 hotel portfolio
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Investra Capital Group Ltd and HVMG complete joint venture acquisition of 12 hotel portfolio

  • Courtyard by Marriott Cleveland Beachwood, HVMG.

  • Courtyard by Marriott Cleveland Beachwood, HVMG.

HVMG also will operate the entire portfolio.

ATLANTA – Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, in conjunction with Investra Capital Group Ltd through its subsidiary Investra Capital Inc, a private equity real estate investor and asset manager, announced the completed joint venture acquisition of a 12-hotel portfolio totaling 1,465 rooms comprised of Marriott- and Hyatt-branded hotels across the Southeastern, Southwestern and Midwestern United States. HVMG also will operate the entire portfolio.

“As we grow our footprint into the U.S., our acquisition philosophy aligns with HVMG’s, as we both remain focused on assets in strong secondary and tertiary markets flanked by strong corporate, government, healthcare and university demand generators,” said Mobeen Jassat, Investra Capital Inc, CEO. “With their successful industry track record in maximizing asset value and seasoned acquisition and operation expertise, we are confident HVMG will act as the ideal stewards of these hotels as they quickly achieve improved performance as the respective segment leaders in each sub-market.”

“The acquisition of these 12 assets brings Investra’s portfolio to a total of 20 hospitality assets across the U.S. since its initial acquisition in 2014,” said Zaid Randeree, Investra Capital Group Limited, CEO. “This also is in line with Investra’s strategy of steady, focused acquisition and growth of assets in the select service hospitality sector across the USA.”

“In the first few months of 2018, HVMG has added 16 hotels totaling 2,611 rooms to its portfolio of full- and select-service and extended-stay hotels across the United States, putting us on track for an historic growth year,” said Robert S. Cole, president and CEO, HVMG. “We continue to seek best-in-class partners like Investra as we selectively target hotels that can benefit from repositioning and/or capital improvements located in top tier markets.  Our goal remains to be the most sought-after operator, employer and trusted partner in the hospitality industry.”

The hotels include:

Name Location Room Count
Courtyard Atlanta Marietta I-75 North Marietta, Ga. 146
Courtyard Atlanta Norcross Peachtree Corners Norcross, Ga. 131
Courtyard Atlanta Marietta Windy Hill/Ballpark Atlanta, Ga. 127
Courtyard Austin University Austin, Texas 198
Fairfield Inn & Suites Austin University Austin, Texas 63
Courtyard Dallas Addison Midway Addison, Texas 145
Hyatt House Dallas Richardson Richardson, Texas 130
Courtyard Grand Rapids Airport Grand Rapids, Mich. 84
Courtyard Detroit Southfield Southfield, Mich. 147
Fairfield Inn & Suites Indianapolis Airport Indianapolis, Ind. 86
Residence Inn Indianapolis Airport Indianapolis, Ind. 95
Courtyard Cleveland Beachwood Beachwood, Ohio 113

“With these additional 12 assets, our portfolio now contains a combined total of 25 Marriott- and Hyatt-flagged hotels across the United States,” Cole noted.  “We are very familiar with each of these brands, as well as the unique demands of each of the regions and traveler types, allowing us to improve bottom lines and guest satisfaction scores expeditiously.”

Co-Founder & Chief Editor - TravelDailyNews Media Network | Website | + Posts

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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