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 •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.