THE LATEST FROM INNVENTURES
August 17, 2020
InnVentures’ Strong Growth Trajectory Primed Amid Pandemic
Driven by an entrepreneurial spirit, InnVentures – a leader in extended stay and select service third-party hotel management – announces accelerated expansion plans for 2020 and beyond . In a challenging year for the hospitality industry, the company’s continued innovation has resulted in the addition of 10 hotels to its development pipeline, all anticipated to open in the next 12 months.
Multiple Deals Mark New Phase of 2020 U.S. Expansion Strategy
“Even during a pandemic, InnVentures is selected for management contracts because of our proven profitability through scale, with personalization and a hospitality-forward approach,” said Chief Operating Officer Kimberly O’Fallon. “A key differentiator that has afforded us growth during this critical time is our nimbleness and ability to keep teams and resources in place, ensuring the infrastructure to confidently and successfully open and manage hotels – just as we’ve always done pre-pandemic.”
With an established acumen for operating major hotel brands in western states, InnVentures was most recently chosen for management of the select service SpringHill Suites by Marriott Springfield North (Springfield, Mo.) in the heart of the Ozarks, continuing the brand’s nationwide expansion. The new build is the first of several management contracts in the pipeline with Joplin-based AR Enterprises, Inc.
The company also recently assumed management of the 121-room, Homewood Suites by Hilton Salt Lake City Draper in Utah, owned by West 77 Partners of Bellevue, Wash. These deals mark an intentional focus on expanding the platform, with additional growth announcements integral to the company’s evolution expected in the coming months. InnVentures currently operates all major hotel brands, including extended stay and select service Marriott, Hilton, Hyatt and IHG hotels in 11 states and counting.
InnVentures operates nearly 50 hotels for some of the nation’s largest REITs, PE firms and lenders, in addition to a large portfolio of 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 on InnVentures, visit innventures.com.
For both development and operational inquiries, please contact Chief Operating Officer Kimberly O’Fallon at firstname.lastname@example.org.
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