The Thrash Group agrees landmark deal with Charlestowne Hotels
This far-reaching agreement adds more than 1,200 keys to Charlestowne Hotels’ portfolio.
The Thrash Group and Charlestowne Hotels will work together on a host of projects across the US.
Hospitality development company The Thrash Group has struck a deal that will see Charlestowne Hotels oversee its entire portfolio of hotels. We take a look at the details behind this eye-catching announcement.
Largest deal in Charlestowne Hotels’ history
Under the terms of the agreement, hospitality management company Charlestowne Hotels will add ten properties to its portfolio – the largest single deal in its 40-year history. The partnership adds over 1,200 keys to its growing empire, which now comprises 50 hotels across 20 US states.
The following properties from The Thrash Group’s roster will be added to Charlestowne’s inventory immediately: Origin Red Rocks, Colorado; Origin Lexington, Kentucky; Origin Raleigh, North Carolina; Origin Westminster, Colorado; Origin Austin, Texas; Hotel Morgan, West Virginia. The second phase, meanwhile, features Doubletree Fort Smith, Arkansas (AK); The Admiral Hotel, Alabama; and Tupelo, Mississippi.
The Thrash Group partner Walker Thrash said: “Each of our hotels, and the teams that support them, have their own personality, culture and guest experience. Charlestowne’s work will act as a microphone for these brand attributes.
“The Charlestowne Hotels team doesn’t manage in a box, they hone in on the unique identity of each property to develop operations, marketing and revenue strategies built to mirror each hotel’s individual characteristics, while keeping a keen eye on the guest experience.”
Big plans for the Origin Hotel brand
An interesting aspect of the deal concerns The Thrash Group’s Origin Hotel concept – Charlestowne Hotels will now oversee the continued development and expansion of the brand. More specifically, Charlestowne Hotels plans to “directly develop broad strategies and programmes that strengthen the growing brand’s position as an experience-driven, community-oriented lifestyle collection”.
“To say this has been a tumultuous year for hospitality would be an understatement,” said Kyle Hughey, chief operating officer of Charlestowne Hotels. “As we approach Charlestowne’s 40th anniversary, we’re reminded that we have navigated uncertain times before.
“Our leadership team has never been stronger, and we have been meticulous with our strategic growth plans, this partnership with Thrash included. We consider our companies well-matched in both operational style and development goals.”