The hospitality group Charlestowne Hotels has signed anagreement with hospitality development firm The Thrash Group tooversee the firms' entire hotel portfolio.

|

The deal adds 10 hotels to Charlestowne Hotels' portfolio. It'sthe largest single agreement in the company's 40-year history, thecompany says, and makes it responsible for 50 hotels in 20states.

|

The group will also lead development and expansion of theindependent Origin Hotel brand, which features lifestyle hotels.Charlestowne took over five brand hotels as part of theagreement, and the line is expected to grow to 10 hotels over thenext four years under the group's management.

|

Six of the properties will initially be added to Charlestowne'sportfolio, with the remaining four properties joining in a secondphase.

|

"To say this has been a tumultuous year for hospitality would bean understatement," Kyle Hughey, the chief operating officer forCharlestowne Hotels, said in a statement. The COVID-19 pandemic hashit the hospitality industry hard, as stay-at-home orders and otherrestrictions aimed at preventing the spread of the virus meant asharp decline in hotel visits.

|

"Our leadership team has never been stronger, and we have beenmeticulous with our strategic growth plans, this partnership withThrash included," Hughey added. "We consider our companieswell-matched in both operational style and development goals."

|

The recently-inked deal means Charlestowne will have its firstpresence in Kentucky, Colorado and Texas.

|

Charlestowne eyes the agreement "as an opportunity to add arange of lifestyle properties, independent concepts and brandedhotels to its portfolio," it said when announcing the newarrangement.

|

"Each of our hotels, and the teams that support them, have theirown personality, culture and guest experience. Charlestowne's workwill act as a microphone for these brand attributes," WalkerThrash, partner of The Thrash Group, said in a statement.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 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.

Jacqueline Thomsen

Jacqueline Thomsen, based in Washington, is a reporter covering D.C. federal courts and the legal side of politics. Contact her at [email protected] and follow her on Twitter @jacq_thomsen.