Twenty Four Seven Hotels (“24-7 Hotels”) a western regional hotel management company recently added two new contracts to its growing portfolio giving them eleven managed hotels totaling just under 1,500 rooms. The new additions in the last thirty days include the 100-room Comfort Suites in Ontario, CA, and the 139-room TownePlace Suites by Marriott in Anaheim, CA. Both hotels will be managed on behalf of the same investment group.
“We began a relationship with this ownership group over a year ago and recently we’ve added two additional management contracts with the same owner” said David Wani, CEO of Twenty Four Seven Hotels.
“When our owners place their faith in our company and then look to further that relationship, it is a validation of Twenty Four Seven Hotel’s performance driven culture.”
The TownePlace Suites Anaheim Maingate Near Angel Stadium further solidifies the company’s managed portfolio of Marriott brands, as this recent addition brings Marriott branded managed hotels to six, a number the company anticipates to grow even higher since recently being added to Marriott’s list of recommended approved U.S. select-service hotel operators.
“Although transaction activity has been extremely limited in the western U.S. markets where the company is focused,” Drew Hardy, President of Twenty Four Seven Hotels said “much of the company’s recent growth is being fueled by its existing client base.” The company projects their strong growth to continue in the foreseeable future spurred from expansion within its existing ownership base; through relationships with select capital partners seeking acquisitions in the current hotel real estate cycle; and through its active development pipeline in some of their most strategic markets, including their recently approved Hampton Inn & Suites in Los Angeles.
