HOUSTON-After several years of focusing on multifamily property management, Kaplan Management is now expanding its hospitality management business and has recently added a 360-room hotel to its portfolio.
Throughout the 1980s and 1990s, Kaplan Management's portfolio included office properties, shopping centers, mini warehouses, corporate lodging hotels and mobile home parks. It entered the hospitality management business in 1995, but pared down its portfolio and shifted its focus to multifamily several years ago.
Recently, Kaplan Management amplified its efforts to grow its hospitality management portfolio and bring on new clients, according to Zachory Robinson, regional vice president of Kaplan Management. The firm is focusing on travel lodges/motor hotels, extended-stay properties and limited service hotels.
Robinson tells GlobeSt.com that the firm's efforts have already paid off – it recently took over property management responsibilities for Hotel Suites of America, a 360-room conventional and extended stay hotel in Las Vegas that is owned by New York-based Garrison Commercial Funding. Kaplan Management gained the assignment through a referral, according to Robinson.
In addition to the Las Vegas property, Kaplan Management's hospitality portfolio also includes: Christy Estates, a 344-unit hotel in Corpus Christi, TX; Fairwind Corporate Lodging, a 144-unit hotel in Clear Lake, TX; and Ranch at Pinnacle Point, 392-unit multifamily and corporate lodging combo in Rogers, AR.
Robinson says Kaplan Management is looking to build its hospitality portfolio in the southeast (Florida and Georgia), the southwest (Arizona, Nevada and Texas) and Southern California.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
