WACO, TEXAS – Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, announced the grand opening of 104-room Residence Inn by Marriott Waco/South in Texas. The hotel is owned by Ridgeland, Miss.-based Wealth Hospitality Group, a hospitality ownership/development/construction management company.

“The Residence Inn by Marriott Waco/South marks our fifth hotel in Texas and our 20th  Marriott-branded property,” said Robert Cole, president & CEO, HVMG. “Our familiarity with the market, extended-stay hotels and the Residence Inn brand will allow us to ramp up quickly and be a market leader. Additionally, HVMG brings its ‘Be Excellent’ culture and best practices to add value to the hotel’s profitability and guest satisfaction.”

Located at 2424 Marketplace Drive, the 4-story hotel is near Hillcrest Baptist Medical Center and proximate to Baylor University and multiple corporate entities and situated within the Central Texas Market Place development. The open-air shopping center features more than 60 retail and dining options. Hotel amenities include a half-sport court, outdoor pool, outdoor patio, meeting room and fitness facility.

Designed for long stays, the brand offers spacious suites with separate living, working and sleeping zones that provide guests with the space and freedom to travel the way they like to live. With fully functional kitchens, complimentary grocery delivery service, 24-hour markets and complimentary breakfast, guests can maximize their time and thrive while they travel.

“With their ‘Be Excellent’ culture that brings additional value to operations and empowering associates, HVMG easily stood out from the competition as the only operator for our exceptional new Residence Inn,” said Hiren “Chico” Patel, CEO, founder and managing principal, Wealth Hospitality Group. “Waco is one of Texas’ dynamic markets, with more than 1.7 million visitors in the first seven months of 2018 alone. With HVMG at the helm, the Residence Inn quickly will exceed the expectations of guests to this charming town.”

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