Hospitality Ventures Management Group (HVMG), a privately owned, fully integrated hotel management and investment group, has added eight new hotels to its portfolio this year.

It brings the total number of properties the company holds to 51.

Under the new additions, HVMG incorporated a mix of Marriott and Hilton branded hotels covering lifestyle, select-service, full-service and extended-stay categories.

The company said it derives 70% of its revenue from full-service hotels.

HVMG president and CEO Robert Cole said: “2024 was an outstanding year for HVMG, adding nearly 1,200 new rooms to our nationwide portfolio.

“Simultaneously, we were able to achieve portfolio-wide RevPAR Index growth for the fourth consecutive year, marking RevPAR Index growth for nine out of the past ten years. Over the trailing 12 months alone, this growth has delivered more than $60m in additional asset value for owners when you factor in our portfolio average flow-through.”

HVMG specialises in transforming around and repositioning underperforming hotels, as well as increasing the performance of stabilised hotels.

The company currently operates 51 properties and one convention centre in 17 states totaling more than 8,700 guest rooms.

HVMG operates independent and boutique hotels and resorts, as well as full-service, select-service and extended-stay hotels under the Marriott, Hilton, Hyatt, Hard Rock, and IHG brands.

In September, the hotel management group assumed management of the 232-suite Embassy Suites by Hilton Bloomington/Minneapolis.

HVMG will also oversee a $9m renovation project to enhance guest rooms, public space, restaurant and back-of-house items.