HVMG will operate both hotels, bringing its portfolio to 35 operated hotels with 7,572 rooms in America. HVMG will operate both hotels, bringing its portfolio to 35 operated hotels with 7,572 rooms in America.

ATLANTA—Hospitality Ventures Management Group formed a joint venture with True North Management Group to acquire a 282-room Marriot Century Center in Atlanta and a 226 two-room suite Hilton Phoenix Suites in Midtown Phoenix. The sale price for both hotels: $50.75 million. The sale comes at a time when hotel revenue has apparently peaked.

HVMG will operate both hotels, bringing its portfolio to 35 operated hotels with 7,572 rooms in America. Hunter Hotel Advisors represented the buyers, which will investing about $15 million to upgrade both hotels starting in 2017.

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