ATLANTA--(BUSINESS WIRE)--Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel management company, today announced that it had signed a management agreement to operate the 100-room and suites Borrego Springs Resort & Spa in Borrego Springs, Ca. The property recently was acquired by Borrego Nazareth LLC.
“The Borrego Springs Resort & Spa marks the sixth independent full-service hotel and second hotel in Southern California to be managed by HVMG,” said Robert S. Cole, HVMG president and CEO. “With most industry experts predicting that overall occupancy and room rates will continue to grow but at a much slower rate, the real opportunity for savvy owners at this phase of the cycle is to maximize profitability through improved operations and service delivery, aggressive and distinctive revenue management and marketing, and a laser focus on costs and margins.
“This is a singular resort offering a full range of amenities from a world-class spa to fine dining, two swimming pools, an 18-hole golf courses and six tennis courts. We believe implementing our unique and customized hotel management and marketing systems and processes will result in substantially enhanced operations and profit. We consider this resort to have excellent upside.”
Borrego Springs Resort & Spa is a full-service golf and spa resort situated in the Anza-Borrego Desert, at the foothills of the Santa Rosa Mountains, and located a short drive from Palm Springs, San Diego and Los Angeles. The resort boasts deluxe rooms with spacious bathrooms, while the suites offer living rooms, two televisions, a mini refrigerator, and microwave. Each guestroom and suite also offers outdoor seating on a private terrace or balcony with either a poolside or mountain view. As for dining options, the Arches Restaurant and Lounge offers an exceptional dining experience offering American and Southwestern inspired menu, while enjoying panoramic views of the golf course and breathtaking views.
The Spa Serenity features its own swimming pool and private cabanas. It offers a range of treatments from massages, facials, wraps and scrubs to manicures and pedicures.
Additionally, the resort caters to small to mid-sized business and social groups with more than 5,000 sq. ft. of meeting space. The versatile layout can accommodate up to 250 guests in a business meeting format and weddings and other social events of up to 150 guests.
“We believe several factors favor the outlook for increased activity in hotel acquisitions and third-party management contracts over the next several years,” Cole said. “In addition to forecasts of slowing RevPAR growth, there is a significant, multi-billion-dollar portfolio of CMBS loans coming due over the next two years. There also will be another wave of required franchisor property improvement plans. These factors will encourage some owners to sell now and harvest their returns while a new generation of owners will look for the upside that this phase of the cycle creates. This environment positions HVMG well, with expertise spanning all sectors and segments of the industry, to take full advantage of this stage of the industry cycle.”
About Hospitality Ventures Management Group
Hospitality Ventures Management Group is a privately owned, fully-integrated hotel investment and management group that specializes in turning around and repositioning underperforming hotels, as well as maximizing the performance of stabilized hotels. It currently operates 30 hotels in 14 states totaling 6,470 guest rooms. HVMG develops, owns, and operates independent and boutique hotels and resorts, as well as full-service, select-service and extended-stay hotels under the Hilton, Marriott, Hyatt, Starwood, and IHG brands. Visit www.hvmg.com for more information.