hospitality ventures management group

ATLANTA, Ga.—Hospitality Ventures Management Group today announced that it has assumed third-party management of three DoubleTree by Hilton hotels in the Chicago and Detroit areas. In addition to management, HVMG has been retained as project manager for significant capital upgrades planned for each property.  

The three properties are DoubleTree by Hilton Chicago-Schaumburg (188 guest rooms, 4,618 square feet meeting space) DoubleTree by Hilton Hotel Chicago Wood Dale-Elk Grove (161 guest rooms, 3,000 square feet meeting space); and DoubleTree by Hilton Hotel Detroit-Novi (148 guest rooms, 3,075 square feet meeting space).

“Based on our successful track record as a full-service turn-around specialist, HVMG has been awarded third-party management for the three DoubleTree by Hilton Hotels. The addition of these properties increases HVMG’s portfolio to now include 16 Hilton branded hotels,” stated HVMG President and CEO Robert Cole. “We are excited to operate these three premier properties, located in strong Chicago and Detroit suburban markets. In the near future, we plan to announce additional assets to HVMG’s growing portfolio.”  

In 2010, HVMG added seven hotels (a 33 percent growth rate) despite one of the tougher operating and growth environments in the history of the hotel industry.  According to Mary Beth Cutshall, HVMG vice president of acquisitions and business development, the firm is poised to continue double-digit annual growth through the foreseeable future.