Hospitality Ventures Expands and Relocates Headquarters from Buckhead to Concourse Corporate Center
Hospitality Ventures Looks Ahead with Confidence and Expectations for Continued Growth
Press Release, May 17, 2010
ATLANTA – CresaPartners, the largest tenant representation firm in North America, recently assisted Hospitality Ventures in negotiations for new office space at Five Concourse Parkway, Suite 2828, Atlanta, GA 30328. Kevin Creel, Managing Principal, and Joe Grace, Vice President, of CresaPartners Atlanta represented the company in its expansion to 5,392 square feet.
Hospitality Ventures, is a privately owned, fully-integrated hotel ownership and management organization based in Atlanta, Georgia. The company was formed in 2001 and currently owns and operates 22 hotels located in 13 states. Eighteen hotels currently operate as Hilton or Marriott brands. Hospitality Ventures’ growth strategy is to produce superior investment returns by acquiring underperforming hotels where value can be created by guest-driven renovation and repositioning.
“As experts in repositioning hotels, we are intimately familiar with image and branding,” said Robert S. Cole, President and CEO of Hospitality Ventures. “Our relocation to Concourse Corporate Center, one of the premier office parks in Atlanta, was motivated by the quest for a quality environment for our employees and clients, while obtaining the maximum benefit from our rental dollars.”
“Hospitality Ventures had outgrown their previous office space in Buckhead,” said Kevin Creel, Managing Principal with CresaPartners, who has represented Hospitality Ventures for the past ten years. “Concourse Corporate Center offers an upscale and convenient location, with many amenities and an option for Hospitality Ventures to expand in the future.”
David Shope, Vice President of Leasing with Cousins Properties Incorporated represented the owner of Concourse Corporate Center Five, TIA-CREF. The 687,107 square foot building was awarded an Energy Star label in 2009 for its operating efficiency and is conveniently located near I-285 and GA 400.
About Hospitality Ventures
Hospitality Ventures, formed in 2001, is a mid-size hotel ownership group specializing in the acquisition, renovation, repositioning, development and management of franchised full, select-service and upscale hotels, with a brand focus on Hilton and Marriott. With its unique skill sets of sourcing, repositioning and operating hospitality real estate, Hospitality Ventures seeks to take advantage of under-performing prospects in the public and private hospitality real estate markets. The company currently owns and operates 22 hotels, consisting of 3,670 rooms. Eighteen hotels operate under franchise agreements with Marriott or Hilton. The properties are located in Alabama, California, Florida, Georgia, Kentucky, Maine, Michigan, New Jersey, North Carolina, Oklahoma, Rhode Island, Tennessee and Texas. For more information, visit www.hospitalityventures.com.
About CresaPartners
CresaPartners is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Relocation Planning and Management, Strategic Planning, Workforce and Location Planning, Subleases and Dispositions, Lease Administration, Capital Markets, Sustainability, Supply Chain and Facilities Management. With more than 50 offices, CresaPartners is the largest tenant representation firm in North America. Internationally, CresaPartners covers more than 125 locations in 35 countries. For more information, visit www.cresapartners.com.