Charlestowne Hotels Inks 10 Hotel Deal with The Thrash Group
Charlestowne Hotels, providing full-service hospitality management, has announced a formal agreement with The Thrash Group, a national hospitality development company, to oversee their entire portfolio of hotels. Under this new agreement, Charlestowne will add ten properties to its portfolio – the management company’s largest single deal in its 40-year history. Five of the newly added properties are part of Origin Hotel, an independent brand of lifestyle hotels.
Kyle Hughey, COO of Charlestowne Hotels, stated:
“To say this has been a tumultuous year for hospitality would be an understatement. 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.”
The partnership with The Thrash Group adds over 1,200 keys to Charlestowne’s portfolio count and expands the management company’s national footprint to 50 hotels in over 20 states, including the group’s first properties in Kentucky, Colorado and Texas. With proven success in secondary and tertiary cities, Charlestowne Hotels will also help Thrash develop experience-driven independent lifestyle properties in markets such as Morgantown, WV and Tupelo, MS. The Thrash Group has also tapped Charlestowne Hotels to oversee the continued development and expansion of the Origin Hotel brand, which is projected to grow up to 10 hotels in the next four years under Charlestowne’s management.
Charlestowne Hotels is known for a dynamic, tailored approach to management, a tactic reflected in the company’s already diverse portfolio of hotels and resorts. The management company views this long-term relationship with Thrash as an opportunity to add a range of lifestyle properties, independent concepts and branded hotels to its portfolio. With the Origin Hotel collection specifically, Charlestowne Hotels will directly develop broad strategies and programs that strengthen the growing brand’s position as an experience-driven, community-oriented lifestyle collection.
The following set of Thrash Group properties will be immediately added to Charlestowne’s portfolio: Origin Red Rocks (CO), Origin Lexington (KY), Origin Raleigh (NC), Origin Westminster (CO), Origin Austin (TX) and Hotel Morgan (WV). The second phase of property additions include Doubletree Ft. Smith (AK), The Admiral Hotel (AL), and Tupelo (MS).