PHILADELPHIA—GF Management, a leading national hotel ownership and management company, through its affiliates, has added six third-party management contracts to its hospitality portfolio in the third quarter of 2015.
“We have found great success in various operating markets across the country, and the addition of these management contracts speaks to that,” said Jeffrey Kolessar, SVP of development and acquisitions. The company’s current portfolio spans across 28 states.
“The focus has been on building relationships with new ownership groups and not just the addition of assets to the portfolio,” Kolessar continued. “We strive to partner with owners who want to realize the highest potential of their hospitality assets, and we do so by collaborating not just on day-to-day management but on future acquisitions, investments and, when the time is right, exit strategies that make sense.”
The 177-room Shoreham Hotel located in Midtown New York City marks the first venture with this ownership group. Another first time partnership is marked at the 101-room SpringHill Suites, Las Cruces, NM.
While GF has been managing 208-room Lodge at Gainesville in Gainesville, FL since 2014, when the property traded and settled into hands of new ownership, GF was retained as manager, due to the extraordinary strides the hotel has made since GF was initially installed.
GF was also retained as manager for the 122-room Hilton Garden Inn New Orleans Airport, located in Kenner, LA, when the sale occurred earlier this year. GF had already been managing the hotel since 2011 and had taken the property out of a distressed state, through an extensive renovation. Once new ownership was in control and retained GF, the same ownership then entrusted two additional hotel assets into GF’s portfolio.