OTO Adds Four Properties to Managed Portfolio
March 15, 2018 | Management
With a proven operations strategy that provides measurable results in revenue, profitability and guest satisfaction, OTO Development is a preferred third-party management company for a variety of hotel ownership groups.
OTO develops, owns and operates its own portfolio of select-service hotels while also lending expertise to ownership groups ranging from publicly traded REITs to private equity firms to high net worth individuals. The Spartanburg SC-based hospitality company operates 68 properties in all, including four new third-party managed properties in Chicago, Baltimore and Charleston SC, with several more in the pipeline.
"With a wealth of experience managing our own properties, we can provide best-in-class results to clients who entrust us with their hotel operations," says Jason Boehm, OTO's Vice President of Business Development. "We've created a scalable platform - comprising technology, human resources, revenue management and ecommerce functions - that consistently outperforms our competitors."
Listed six times on the Inc. 5000 tally of the fastest-growing private companies in America, OTO Development is now a member of the Inc. 5000 Honor Roll. The company earned this select distinction by concentrating on strategic expansion, building its client base by increasing the value of every property in its managed portfolio.
"We are excited about the new opportunities we have to drive bottom line results for our partners while providing an exceptional experience for our hotel guests," Boehm says, noting that the latest contract acquisitions, which total nearly 500 rooms, are Hyatt Place Chicago/Lombard/Oak Brook, Hyatt Place Chicago/Hoffman Estates, Hyatt Place Baltimore/Owings Mill, and Residence Inn Charleston North/Ashley Phosphate.
As part of the Johnson Family of Companies, OTO Development operates under six guiding principles - Integrity, Partnership, Humility, Principled Entrepreneurship, Initiative and Fulfillment - and seeks to collaborate with others who share the same values.
"We are committed to enduring business relationships grounded in mutual trust, respect, service and reliability," says Corry Oakes, President/CEO of OTO Development. "We create long-term value for our clients and investors by anticipating opportunities for profitable growth, satisfying the evolving needs of the customer, and embracing change while striving for continuous improvement. Every interaction, internal as well as external, is informed by our guiding principles."