NATIONAL REPORT—Hotel Business is tracking management contracts. HMC, Hospitality Asset Management Company and OTO Development are experiencing portfolio growth. Here are the details.
HMC to Manage Newly Branded Red Lion Houston Intercontinental Airport Hotel
HMC has added the 220-room Red Lion Houston Intercontinental Airport Hotel, Texas to its portfolio. The hotel was previously operated as the Park Inn by Radisson Houston North Hotel & Conference Center, TX, acquired by Newstream Hotels & Hospitality. HMC continues its ongoing business expansion which is made up of full-service, conference center, select-service and limited-service hotels. HMC is one of the country’s largest third-party privately held hotel management companies, ranked in the top 40 of all third party and owner operated hotel management corporations.
HAMC Acquires Three Hotels
HAMC has acquired three new hotels to expand its presence in the Central Pennsylvania region. The hotel management firm added two new hotels in Altoona, PA and one new hotel in Clearfield, PA. Wingate by Wyndham Downtown/Medical Center, Altoona, Microtel Inn & Suites by Wyndham, Best Western Plus, Clearfield.
OTO Development Dives into Key West Market
OTO Development has taken its first dive into the Florida Keys hospitality market with the purchase of Best Western Key Ambassador Resort Inn. The transaction was completed on Sept. 17, between The Key Ambassador Co. and Spartanburg, SC-based OTO, which is part of The Johnson Group. Buyer’s representative was HFF LP (Max Comess and Alexandra Lalos) and the seller’s representative was Berkshire Hathaway Knight & Gardner Realty (Claude Gardner and Will Langley).