DAVIDSON DOUBLES DOWN
The new owners of Memphis-based Davidson Hotel Co. have a big goal for the management company: double in size over the next five years. The company currently operates 24 hotels with more than 7,000 rooms and anticipates $400 million in revenues this year.
The company plans to contribute sliver equity to many of the management contracts deals it signs, but it will also consider acquisitions and development. Three- and four-star full-service properties in the top 50 MSAs are its primary targets.
“A lot of institutional investors need experienced owner operators like us that aren't tied to a brand,” says President & CEO John Belden. He was one of nine senior managers, along with capital partner Bridgepoint Hospitality, who bought the company earlier this year from long-time owner Chick Hill.
A key differentiator for the firm is DNC.net, a proprietary technology that keeps tabs of all of a property's performance metrics — budgets, forecasts, purchasing, human resources and more — on one platform.
“The real-time data DNC.net provides greatly improves the relationship between us and owners or their asset managers,” says COO Pat Lupsha. “It promotes a high level of trust and allows everyone to focus on business opportunities.”
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