McKibbon Hospitality has entered into a brand new strategic partnership with industrial actual property agency Liberty Group. As Liberty Group shifts its focus to growth, actual property and asset administration, the corporate will likely be transitioning administration of its remaining seven accommodations to McKibbon.
The seven accommodations embody Fairfield Inn & Suites Ft. Pierce; Hampton Inn & Suites Cape Coral; Hampton Inn Norfolk/Virginia Seaside; Hampton Inn Ormond Seaside; Hampton Inn & Suites Tampa East; Hampton Inn Vero Seaside; and Hampton Inn & Suites Girl Lake/The Villages. A further lodge growth challenge, Home2 Suites Girl Lake/The Villages, not too long ago broke floor and will likely be managed by McKibbon upon its completion in summer time 2022.
Based in 1980 by Raxit Shah, Liberty Group has developed from a lodge developer/operator to a diversified household workplace. At this time, the corporate is led by Punit Shah, CEO/normal accomplice of its personal fairness funds, who took the reins greater than a decade in the past following his father’s retirement, main the corporate within the acquisition of greater than 50 accommodations since that point.
“From our household roots to our firm cultures and commitments to all the time working with the very best degree of integrity, Liberty Group and McKibbon Hospitality are very aligned which made entrusting them with the administration of those properties extraordinarily simple; we’re merely higher collectively,” stated Punit Shah. “This partnership will permit us to proceed exploring expanded alternatives for lodge investments and growth, all whereas figuring out these seven accommodations and its associates are in trusted arms.”
The administration contract for these properties not solely forges a brand new relationship between McKibbon Hospitality and Liberty Group, nevertheless it additionally expands McKibbon’s presence all through Florida markets, the place the corporate at the moment manages 44 extra properties.
“We’re past happy to accomplice with Punit and the Liberty Group workforce on the administration of those accommodations, permitting each of our corporations to develop of their respective areas,” stated Randy Hassen, president, McKibbon Hospitality.
The seven accommodations add a complete of 607 new rooms to McKibbon’s total administration portfolio, bringing the entire variety of guestrooms to 10,509 throughout 92 accommodations all through the U.S.