May 12, 2021 | Investment
SPARTANBURG, SC – May 11, 2021 - OTO Development is growing once again with its sixth acquisition in just three years, the purchase of the Courtyard by Marriott Los Angeles Woodland Hills. In the heart of the San Fernando Valley and just a short drive away from Hollywood, Los Angeles, Burbank and Simi Valley, this hotel is well located close to Warner Center and area shopping and dining. Close to Pepperdine, CSUN, Kaiser Permanente Hospital and a short drive to Universal City, Hollywood, Downtown LA, Malibu and Santa Monica, this hotel is a perfect choice for business and leisure travelers alike.
“This is an exciting addition to our portfolio of owned hotels,” says Corry Oakes, CEO of OTO Development. “The location, the perfect place for work or play, complements our existing assets in Southern California and extends our valued partnership with Marriott.”
While OTO has built its reputation by developing new hotels in high-barrier-to-entry markets, the company’s growth strategy also includes purchasing – and re-purposing – existing assets in prime locations. With a goal of maximizing a property’s potential, OTO Development has enhanced hotels through renovations and operational improvements. OTO recently transformed hotels in Key West and Marathon in the Florida Keys and recently reopened a revitalized hotel in St. Pete Beach, FL following a full-scale renovation.
The six story, 122 room Courtyard by Marriott will enjoy its own refresh over the course of the next 12-18 months. Highlights of the upgrades including updating the lobby’s furniture, carpet and décor and refreshing the guest rooms with new carpet, wallcoverings, and soft seating. A new roof and exterior painting round out the improvements.
The Courtyard by Marriott Los Angeles Woodland Hills features:
“This hotel has been an excellent choice for travelers to Woodland Hills,” Oakes says. “We are delighted to be a part of the next phase of this hotel’s history, welcoming its team members to our family and providing friendly hospitality for years to come.”
Courtyard by Marriott Los Angeles Woodland Hills is located at 21101 Ventura Blvd, Woodland Hills, CA 91364. For reservations, call (818) 999-2200 or book online at www.Marriott.com
About OTO Development
OTO Development, part of The Johnson Group, is an award-winning, fast-growing hotel development and hospitality management company. Founded in 2004 and partnering with the Hilton, Hyatt and Marriott brands, OTO's industry leadership position is anchored by a portfolio of excellent hotels staffed by exceptional people. The company currently owns and/or operates ~70 hotels comprising approximately 8,000 room keys. OTO's impressive growth is focused on developing new hotels in high-barrier-to-entry markets; purchasing and repurposing existing hotel properties; and expanding management contracts with clients ranging from publicly traded REITs to private equity firms to high net worth individuals. For more information, visit OTODevelopment.com.
About Courtyard by Marriott
Courtyard is the hotel brand of choice for ambitious and enterprising guests who see business travel as a driver of personal fulfillment and professional growth. Courtyard provides opportunities for guests to pursue both their personal and professional passions on the road. With more than 1,200 locations in over 54 countries and territories, Courtyard is proud to participate in Marriott Bonvoy, the new name of Marriott’s travel program replacing Marriott Rewards®, The Ritz-Carlton Rewards®, and Starwood Preferred Guest® (SPG). The program offers members an extraordinary portfolio of global brands, experiences on Marriott Bonvoy Moments and unparalleled benefits including earning points toward free hotel stays and nights toward Elite status recognition. To enroll for free or for more information about the program, visit MarriottBonvoy.com. For more information or reservations, visit courtyard.marriott.com, become a fan on Facebook or follow @CourtyardHotels on Twitter and Instagram.