LOS ANGELES-Locally based JRK Hotel Group has launched an effort to expand its third-party hotel management business along with its ongoing acquisition program. JRK President John Flannigan tells GlobeSt.com that the company, which owns three hotels in California and Tennessee totaling 579 rooms and manages the 194-room Hotel Roger Williams in New York City, is looking for the third-party management business while continuing to acquire hotels in top markets.
Flannigan says that a chief reason JRK wants to take on more management business is that, "We have a proven management record of driving both top line and NOI growth over and above what other operators in the hotel management arena are doing." Taking on management assignments, he says, "is a natural progression for our company as another avenue to grow our hotel portfolio."
In addition, Flannigan says, JRK believes that many hotel investors in today's market
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