No organization’s history unfurls according to a plan. Instead, how well its management team reacts to challenges in the marketplace, recovers from any setbacks, and aggressively pursues opportunities most often determines its longevity, and ultimately how successful it becomes.
The history of The Hotel Group is still being written. However, numerous milestones have been achieved along the way that underscore the company’s mission to create maximum value and growth opportunities.
Founded in 1984 with the pledge to provide exemplary, hands-on management services to hotel investors, the company's first management contracts were for limited service properties in Texas and Oklahoma. In an early flash of innovative thinking that has since become a company hallmark, THG™ offered guests value-added amenities such as complimentary continental breakfasts, which was largely unheard of in the early 1980s. The four properties gained market share.
Later in the decade, The Hotel Group secured pre- and post-opening management contracts from developers across the nation, with an emphasis on a new brand concept originating in Memphis - Hampton Inn. Subsequently, the company opened five Hampton Inns in the late 1980s in Las Vegas, Wichita Falls, Texas, as well as in Phoenix, Los Angeles and Murfreesboro, Tennessee.
Building upon a base portfolio of more than ten hotels, The Hotel Group then seized upon a management opportunity then overtaking the industry in the late 1980s. This milestone was achieved as a consequence of a change in the 1986 tax code, which permitted lenders to own hotels. An aggressive development effort resulted in The Hotel Group becoming a preferred hotel management company for Bank of America, Continental Savings of America, and U.S. Bank, among others. The high-profile brands then managed for lenders included the likes of Hilton, Sheraton and Embassy.
History presented another lucrative opportunity for The Hotel Group in the early 1990s when the savings & loan crisis emerged on the American business scene - Asset Management for the Resolution Trust Corporation (RTC). The Hotel Group formed a joint venture, Hotel Asset Management and Disposition Associates (HAMDA), and was charged with the workout and disposal of more than $400 million in non-performing hotel loans and Real Estate Owned (REO) properties.
Later, as the RTC was being dissolved by the federal government in the mid-1990s, The Hotel Group reacted by honing a new strategy that to this day has lead to further growth and stability - hotel ownership.
Today, The Hotel Group focuses on continuing to develop and manage hotels for a select group of client partners, all the while acquiring and re-developing carefully selected properties. Over the past few years the company has invested more than $185 million to purchase several upscale full-service hotels throughout the United States.
Now with a diverse portfolio of 38 properties, roughly one quarter of which are company-owned hotels, plus a talented corporate management team, dynamic property general managers and dedicated staff, The Hotel Group is more than ready to achieve the next milestone.