CHARLESTON, SC—Avocet Hospitality Group (AHG) has plans to expand its business model from sole hotel owner/operator to include capital partnerships and third-party management agreements.
Since 2009, AHG has been the sole owner and operator of its hotels and food and beverage outlets. In addition to growing the portfolio through traditional hotel acquisitions, AHG is now pursuing opportunities to partner with hotel owners/developers seeking both capital infusions and operational expertise after the impact of COVID-19 on the industry.
The Charleston, SC-based company currently operates three full-service hotels, including The Vendue, Tides Folly Beach and The Read House, as well as nine food and beverage outlets ranging from fine dining to Starbucks Coffee shops.
“For the past decade, we have successfully acquired and renovated multiple hotels, and during the process we consistently ran into owners asking to partner with us,” said Jon Weitz, owner/CEO of Avocet Hospitality. “Over the last few years, we assembled our team of seasoned hospitality executives with an eye toward shifting our model to partnering with like-minded hotel investors and developers bringing both capital and knowledge to the table.”
In an effort to identify potential partners, longtime AHG executive Wesley Bloomfield Sang has taken on the position of director of strategic partnerships. “My goal is to identify hotel investors and/or developers who are interested in partnering with us through equity investments and are in need of operational expertise to achieve maximum profitability at their properties,” Sang said.
In addition to capital investment, AHG can offer full-service management services that include daily operations, revenue optimization, marketing, group sales, accounting, human resources, design and development, as well as consulting.
“From repositioning, redesigning and rebranding hotels and restaurants, Avocet Hospitality has developed a portfolio that has produced positive results both qualitatively and quantitatively. We have been extremely fortunate to utilize our passion for not only designing unique hotels and restaurants, but for creating a culture that inspires others. The year, 2020, has been a challenge to say the least, but our leadership team has worked around the clock to ensure safety and security for both our team members and guests during a global pandemic. We are excited for what the future holds and the timing feels right to partner with fellow hospitality owners and investors in an effort to help them come out on top,” Weitz said.