Main Photo: The pool at The Lazlo hotel
Date: June 2020
Location: Rocky Mountain region of USA, including The Lazlo in Parker, Colorado
Name: The Hotel Lazlo, two Holiday Inns, two Holiday Inn Expresses, two Candlewood Suites.
No. of Keys: TBA
Seller: The hotels were formerly operated by MARS Hospitality
Buyer: Valor Hospitality Partners has officially announced plans to enter the Rocky Mountain region of the United States with the acquisition of seven new management agreements.
The properties – including two Holiday Inns, two Holiday Inn Expresses, two Candlewood Suites and independent boutique hotel, The Laszlo – are all formerly operated by MARS Hospitality, and the latest additions to Valor’s growing portfolio.
“We are incredibly proud to assume the management of these assets for a wonderful group of owners and investors” says Euan McGlashan, Co-founder and CEO of Valor. “Our discussions leading up to this agreement were thoughtful, meaningful and targeted on immediate needs as we fight back post COVID-19. This is a super portfolio of assets and we look forward to adding immense value through our deeply experienced, corporate team, putting structure, process and dynamic sales initiatives in place, while bringing our unique associate-driven culture to these properties and this region.”
Baxter Fain, MD at Cushman and Wakefield, advisor to the transaction, adds, “After several months of assessing our needs as a group, we began to search for the right management company partner to help us immediately. Valor Hospitality Partners stood out due to their global sensibility, immense experience, incredible team and their full-suite of centralised services. We are very excited about the future.”
Valor provides a wide range of services for branded and independent hotels, resorts and restaurants, including management, food and beverage concept, design & execution, capital raise and hotel development. The Atlanta-based hospitality management company currently owns, operates and manages over 50 hotels worldwide, with offices in destination cities including Memphis, London, Cape Town, Bangkok and Dubai.
“Our continued success as a management company is due to the quality, and consistency, of our services across the global portfolio. Even with the impact of COVID-19 on the hospitality industry, our latest portfolio additions reflect Valor’s track record of prosperity in the face of adversity. I can’t think of a better way for us to get started on the road to recovery than a venture into a brand-new market.”
THPT Comment: Good to see the Valor continuing to grow…we can little on Mars Hospitality in the USA, not to be confused with Mars in India.
First Seen: Hotel Online
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