Asha Companies Acquires 10 Hotels
Tuesday May 21st, 2013 - 9:21AM EO
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WASHINGTON—Asha Companies purchased 10 hotels representing 860 rooms located in North Dakota, Montana, Wyoming and Texas.
Hospitality Management Corp., led by President/CEO Leo Spriggs, will manage the properties.
Jay Patel, CEO/CFO of Asha Companies, said, “We are very excited about this venture and feel there is great synergy between the two companies."
Asha Companies will be transitioning to the name, “Building Asha Companies," said Patel, "As we truly want to be known as a company that is “building hope, as 'Asha' in all essence means hope in many parts of the world."
Tags: • Hospitality • Acquisitions • Management Companies •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.