Embassy Suites Portland Oregon and Seattle
Washington Add to InnVentures' Growing, National Portfolio
NEW
YORK, July 16, 2024 /PRNewswire/ -- InnVentures,
a division of Highgate that specializes in the management of
premium select-service and extended stay hotels, announced today
the addition of two hotels to its portfolio. InnVentures will
assume management of the Embassy Suites Portland Washington Square,
Oregon and Embassy Suites Seattle
Bellevue, Washington. The hotels
represent 596 keys, the company's third and fourth Embassy Suites
under management, and bring the total number of properties managed
by InnVentures to 85.
These additions to InnVentures' portfolio build on a period of
significant growth for the company. In 2023, InnVentures' portfolio
increased by 25 hotels in nine states, including entry into
Virginia, South Carolina, North Carolina, Connecticut and Maryland, as well as additional expansion in
Florida, Colorado, Washington, and Oregon.
"The Pacific Northwest has been our primary market for over 40
years, and we've continued to flourish throughout Northern California and the Rockies," said
David Montrose, Executive Vice
President & Head of InnVentures. "Recently, we've been making a
push to expand into new markets, such as Florida and the Northeast where we see an
opportunity to bring InnVentures' expertise and deliver strong
results for our owners. We continue to grow in a disciplined and
methodical manner, and in geographies where we can quickly assemble
best-in-class talent clusters."
Montrose credits the company's tenured regional team and strong
executive leadership with driving operating innovations and helping
to build its portfolio. Recent additions to further enhance the
team include Dury Kim, Vice
President, Revenue & Distribution, who joined the company in
2023. Additionally, Shannon Myers,
Vice President, Sales, has been with the company since 1994 and has
been recognized with numerous sales awards, including Global Sales
Team of the Year and Sales Excellence in Leadership Award; and
Rhonda Carr, Vice President, Sales,
a twenty-year veteran of InnVentures who has also been a multiyear
Hotel Sales Excellence Award winner.
"InnVentures' success is built upon its distinctive brand of
operational excellence, optimizing ecommerce strategies to maximize
revenue management and a strong, onsite direct sales team. This mix
is what has propelled our hotels to increase their market share
approximately 15% above the industry average," according to
Montrose.
InnVentures anticipates a similar pace of expansion through the
balance of 2024, with additional management contracts to be
announced later this year, marking entry into additional new
markets as well as existing regions.
About InnVentures
InnVentures operates over 85 hotels for the nation's
largest REITs, PE firms and individual and family-owned hotels.
Throughout its 40-year history, it has developed a highly
institutional back office, coupled with a hands-on approach to
operations that has contributed to its success. InnVentures was the
first franchisee of Residence Inn Hotels (now Residence Inn by
Marriott). Marriott International has presented InnVentures with
its coveted "Partnership Circle" award multiple times – the highest
honor bestowed upon Marriott franchisees – as well as 14 brand
"Hotel of the Year" awards. For more information, visit
innventures.com.
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SOURCE InnVentures