LOS ANGELES— Following the sale in December of its Two Roads Hospitality company to Hyatt, Lowe has formed a new, wholly owned hotel and resort management company, CoralTree Hospitality Group.
Led by senior executives who built their hospitality careers at Lowe-affiliated hotel management companies, CoralTree Hospitality Group launches with a portfolio of 17 lifestyle hotels and resorts under management across the U.S. and in Puerto Rico.
“The milestone sale of our prior hotel management company to Hyatt last year was the beginning of a fresh new chapter of hotel and resort management for Lowe and our CoralTree team,” said Lowe Co-CEO and CoralTree Chairman Robert J. “Rob” Lowe Jr. “We have the opportunity to return to our hospitality roots with a spirit of individuality, a focus on each property’s attributes and identity, and an emphasis on personalized, exceptional service.”
The CoralTree Hospitality Group, with 3,400 employees nationwide, is led by President Thomas Luersen, a 20-year veteran of Lowe, Destination Hotels and Resorts and Two Roads Hospitality. Luersen has assembled a senior team including EVP Andre’ Fournier and SVP Robert Mellwig, who are also Lowe shareholders and former executive team members of Two Roads Hospitality and Destination Hotels. The team will be headquartered in Englewood, CO.
“Lowe’s legacy of hospitality, dedication to customer service and respect for the value of relationships, developed over 46 years of hotel and resort management, is ingrained in our culture and naturally continues with CoralTree Hospitality,” said Luersen. “We take a different approach to travel by delivering distinctive, memorable experiences that celebrate the surroundings, community and culture of each individual property. No two visits to our properties will be the same. Further, as hotel owners and developers ourselves, we have a firsthand understanding of how to optimize the value of every hotel we manage.”
The 17 hotels and resorts currently managed by CoralTree Hospitality Group include independent, branded and soft-branded properties such as Terranea Resort on the Southern California coast; the El San Juan Resort in Puerto Rico; Hotel Lincoln in Chicago; and Hotel Talisa in Vail, CO.
In addition to providing on-site hotel and resort property management, CoralTree also provides hotel and resort asset management services. It currently oversees Lowe’s resort investments, including Wild Dunes Resort near Charleston, Sunriver Resort in Central Oregon and Suncadia Resort outside of Seattle, as well as hotel properties being developed by Lowe in Southern California and at the Charleston waterfront.
“As we grow, strategically and selectively, we will focus on lifestyle hotels and resort communities where our 46 years of experience and customized approach can make a real difference to the guest experience and create economic value for the owner,” said Lowe’s Co-CEO/CIO Michael Lowe.