Regency Hotel Management Acquires ROI Hospitality LLC
At Regency, we take pride in managing an entire portfolio of successful and profitable hotels and resort properties all across America. To maintain this track record of success, we have intentionally put practices into place that have helped us achieve controlled growth and a more diversified operational footprint.
We made significant strides in this area with the acquisition of The Grand International in Minot, North Dakota, the Ramada in Omaha, Nebraska, and a contract extension with Canaan Valley in West Virginia.
In October of 2019, Regency Hotel Management took another giant step forward with the purchase of assets from ROI Hospitality LLC. This deal immediately grew the Regency portfolio by four hotels, with a new hotel soon after. The agreement also allowed Regency to hire ROI employees as our own and begin collecting the contracted management fees right away.
“This deal was a way for us to grow our business more than five percent in one step,” says Regency CEO and President, Tom Biegler. “ROI is a 100% self-contained company, which means despite our immediate growth, no one from Regency has taken on more than they had on their plates before the deal. We’ve gained the experience and talents of the professionals that we’ve taken on as new associates, all while capturing the upside of the efficiencies of bringing them in-house.” Biegler adds, “I can’t adequately convey how excited I am for us to take on this next chapter, and I suspect it won’t be the last of such acquisitions over the next decade.”