In Joint Venture, Investra and HVMG Acquire 12 Hotels

ATLANTA—Hospitality Ventures Management Group (HVMG) along with Investra Capital Group Ltd through its subsidiary, Investra Capital Inc., a private equity real estate investor and asset manager, completed a joint venture acquisition of a 12-hotel portfolio totaling 1,465 rooms.

The portfolio is comprised of Marriott- and Hyatt-branded hotels across the Southeastern, Southwestern and Midwestern United States. HVMG 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, CEO, Investra Capital Inc. “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, CEO, Investra Capital Group Limited. “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 U.S.”

“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 U.S., 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:

  • Courtyard Atlanta Marietta I-75 North in Marietta, GA
  • Courtyard Atlanta Norcross Peachtree Corners in Norcross, GA
  • Courtyard Atlanta Marietta Windy Hill/Ballpark in Atlanta
  • Courtyard Austin University in Austin, TX
  • Fairfield Inn & Suites Austin University in Austin, TX
  • Courtyard Dallas Addison Midway in Addison, TX
  • Hyatt House Dallas Richardson in Richardson, TX
  • Courtyard Grand Rapids Airport in Grand Rapids, MI
  • Courtyard Detroit Southfield in Southfield, MI
  • Fairfield Inn & Suites Indianapolis Airport in Indianapolis
  • Residence Inn Indianapolis Airport in Indianapolis
  • Courtyard Cleveland Beachwood in Beachwood, OH