When White Lodging revealed that it was selling the management contracts to HHM, Hotel Business reached out to HHM for its thoughts on the deal.
“We are equal parts humbled and motivated by this rare opportunity to acquire long-term stable management agreements and for the chance to work with four highly institutional clients: three publicly traded real estate investment trusts [REITs] who have not worked with HHM in the past, plus a leading private equity firm who has partnered over the years,” said Naveen P. Kakarla, president/CEO, HHM.
“We will continue our strategy of clustered management in both urban and suburban markets from coast to coast,” he continued. “To that end, these 25 new hotels blend seamlessly into our greater portfolio of 185 hotels, which include premium full- and select-service branded and independent properties across 30 states.
“Ultimately, all of us know that growth is a privilege and a direct result of our prior results and positive reputation in the marketplace,” he concluded. “And thus, we are focused on our early work with our four new owners and partners, each of whom presents growth and career opportunities for HHM and our team members.”
The newly added hotels come with long-term management agreements for nearly 4,000 rooms across various Marriott and Hilton brands. They are strategically located in and around existing HHM markets like Denver, Austin, Tampa, Fort Lauderdale and Chicago, while adding hotels in new HHM markets such as Salt Lake City, Louisville, and Omaha.
