ATLANTA—Real estate firm The Allen Morris Company and Stormont Hospitality Group, a hotel developer, have launched AMS Hospitality (AMS).
AMS Hospitality will focus on the acquiring and building hotel assets, initially focusing on southeast U.S. markets. The venture will be formally launched with the closing of two new lifestyle hotel development projects in Atlanta. The 176-key Star Metals Hotel, scheduled for completion in Q4 2021, will focus on the local leisure and transient market. Star Metals Hotel is part of the transcendent Star Metals District in West Midtown, which includes Star Metals Residences, Star Metals Offices and a retail component.
The 205-key Midtown Union Hotel, which will have a more corporate business focus infused with local art to celebrate the neighboring Woodruff Arts Center, is slated for completion in 2022. The hotel is being developed in partnership with MetLife Investment Management.
AMS Hospitality has numerous additional hotels in its pipeline in Georgia, North Carolina and Florida, which are expected to be announced throughout 2020.
Representatives from the Allen Morris Company and Stormont Hospitality Group will comprise the board of the new AMS Hospitality venture, including Spencer Morris, Peter DiCorpo, Jim Stormont and John Cooper. All former Stormont Hospitality Group employees have become employees of the new venture.
“We are elated about formally entering the hospitality space with one of the industry’s finest and most respected team of professionals,” said W. Allen Morris, chairman/CEO of The Allen Morris Company and principal of the new AMS Hospitality. “The new company will be working with all major hotel companies and their respective brands, while also developing a series of local independent boutique hotels.”
“The new venture is already a success with two extraordinary hotel projects in Star Metals Hotel and Midtown Union Hotel,” adds Jim Stormont, co-founder of Stormont Hospitality Group and president of AMS Hospitality. “The potential of the two organizations formally joining is extraordinary when taking into account the Allen Morris Company’s financial capabilities and six-decade long reputation for developing first-class projects and our own capabilities in the hospitality space.”
