{"id":1004116553,"date":"2015-03-31T05:50:35","date_gmt":"2015-03-31T13:50:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004116553"},"modified":"2022-12-08T11:21:53","modified_gmt":"2022-12-08T19:21:53","slug":"hospitality-ventures-grabs-underperforming-hotel-in-atlanta","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hospitality-ventures-grabs-underperforming-hotel-in-atlanta\/","title":{"rendered":"Hospitality Ventures Grabs Underperforming Hotel in Atlanta"},"content":{"rendered":"<div id=\"attachment_100411\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Mary-Beth-Cutshall.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-100411\" data-attachment-id=\"1004116556\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hospitality-ventures-grabs-underperforming-hotel-in-atlanta\/mary-beth-cutshall\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Mary-Beth-Cutshall.jpg\" data-orig-size=\"2400,3000\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D300S&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1263368826&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;100&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Mary Beth Cutshall\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Mary Beth Cutshall&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Mary-Beth-Cutshall.jpg?w=819\" class=\"size-thumbnail wp-image-1004116556\" alt=\"Mary Beth Cutshall\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Mary-Beth-Cutshall.jpg\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-100411\" class=\"wp-caption-text\">Mary Beth Cutshall, HVMG<\/p><\/div>\n<p><em>Keith Loria, Contributing Editor<\/em><\/p>\n<p>Hospitality Ventures Management Group has acquired a joint venture interest in Embassy Suites Atlanta-Galleria, a 261-room hotel situated in northwest Atlanta\u2019s Galleria district.<\/p>\n<p>\u201cWe saw the hotel as a true value add play due to its excellent central location in the Galleria market, home to the new Atlanta Braves Stadium, and was underperforming due to a lack of historical capital investment,\u201d Mary Beth Cutshall, HVMG\u2019s senior vice president, acquisitions &amp; business development, told <i>Commercial Property Executive<\/i>. \u201cThe property is in a strong market and was below replacement cost.\u00a0The metrics and upside were compelling.\u201d<\/p>\n<p>The hotel is within walking distance of the Cobb Galleria Centre, Cobb Energy Performing Arts Centre and Atlanta Galleria Office Park, and is also located nearby businesses such as Home Depot, Coca-Cola, IBM, Lockheed and Travelport.<\/p>\n<p>According to Cutshall, the company is investing significant capital into the property to renovate the exterior, lobby area, meeting space, and guest rooms.<\/p>\n<p>HVMG also manages the Embassy Suites Atlanta-Galleria. To date, HVMG\u2019s managed hotel portfolio consists of 42 hotels in 16 states nationwide, totaling 8,060 rooms. The acquisition is its fifth Embassy Suites purchase and 20th Hilton branded hotel.<\/p>\n<p>\u201cHVMG has a long historic track record of acquiring underperforming hotels, investing substantial capital into renovations, and delivering excellence in operation which in turn creates significant investor value creation,\u201d Cutshall said. \u201cThe Galleria market is one of the strongest performing markets in metro Atlanta and is forecast to continue especially considering the new Braves Stadium under construction along with the multiple of new development spurred by it.\u201d<\/p>\n<p>In 2014, HVMG achieved a record year in terms of operating results, achieving 10 percent same-store RevPAR growth and early company metrics indicate that 2015 will be another banner year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hospitality Ventures Management Group has bought a property in one of the strongest-performing markets in Atlanta.<\/p>\n","protected":false},"author":952,"featured_media":1004116556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,21783,21742],"tags":[],"class_list":["post-1004116553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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