WASHINGTON, DC— The Falor Cos. (TFC) added the Hyatt Dulles here to its recently created asset-management portfolio. TFC President Robert Falor noted the firm expects to be asset-managing 12 – 15 properties by the end of the year— many of which are reportedly being purchased by TFC in joint ventures (while being managed mainly by major brands). Falor added the company felt exiting the third-party management business and focusing on managing or asset-managing assets it owns was best for its acquisition strategy. Falor also pointed out many of these acquisitions would center around condo/hotel conversion opportunities in resort and CBD markets. TFC’s asset-management division was created with the joint-venture acquisition last May of the Cheeca Lodge & Spa in Islamorada, FL. That property is managed by Rock Resorts.
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