Hospitality Ventures Management Group (HVMG) Awarded Management of Under Construction Residence Inn by Marriott Waco/South in Texas

Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced it was awarded management of the currently under-construction, 104-room Residence Inn by Marriott Waco/South in Texas. Owned by Heritage Hospitality Group, a hospitality ownership/development/construction management company, the hotel is expected to open in mid-July 2020.

“The Residence Inn by Marriott Waco/South marks our fifth hotel in Texas and our 20th Marriott-branded property,” said Robert Cole, president & CEO, HVMG. “Our familiarity with both the market and the brand will allow us to ramp up quickly as the hotel begins its run towards segment leadership for guests looking for a little more space. Additionally, our ability to create economies of scale and share best practices will benefit the hotel’s profitability and guest satisfaction scores.”

Located at 2424 Marketplace Drive, the 4-story hotel is near Hillcrest Baptist Medical Center and proximate to Baylor University and multiple corporate entities and situated within the Central Texas Market Place development. The open-air shopping center features more than 60 retail and dining options. Hotel amenities will include a half-sport court, outdoor pool, outdoor patio, meeting room and fitness facility.

Designed for long stays, the brand will offer spacious suites with separate living, working, and sleeping zones that provide guests with the space and freedom to travel the way they like to live. With fully functional kitchens, complimentary grocery delivery service, 24-hour markets and complimentary breakfast, guests will be able to maximize their time and thrive while they travel.

“With their ‘Be Excellent’ culture that enables empowered associates and gratified partners, HVMG easily stood out from the competition as the only operator for this unique hotel,” said Hiren “Chico” Patel, CEO, founder and managing principal, Heritage Hospitality Group. “Waco is one of Texas’ hidden gems, with more than 1.7 million visitors in the first seven months of 2018 alone. With HVMG at the helm, the Residence Inn quickly will exceed the expectations of guests to this charming town.”

About Hospitality Ventures Management Group

Hospitality Ventures Management Group is a privately owned, fully integrated hotel investment and management group that specializes in turning around and repositioning underperforming hotels, as well as maximizing the performance of stabilized hotels. It currently operates 47 hotels and one convention center in 17 states totaling 7,773 guest rooms. HVMG operates independent and boutique hotels and resorts, as well as full-service, select-service and extended-stay hotels under the Hard Rock, Hilton, Hyatt, Marriott, and IHG brands. Visit www.hvmg.com for more information.

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