August 24, 2015 | Investment
OTO Development, a South Carolina-based developer, owner and operator of hotels, announces its fourth consecutive year on the list of Inc. 5000, representing America’s fastest-growing private companies.
“OTO Development is honored to make another appearance on this notable list among so many great companies and entrepreneurs. We are especially excited to be the only hotel developer on the list,” commented CEO of OTO Development Corry Oakes. “Making the list multiple years is a remarkable achievement and a testament to the quality of our team. These exceptional people drive our success by developing extraordinary properties while also facilitating a superior return on investment for the properties we manage. Our continued focus on growth through development and management of select-service and extended-stay hotels has been instrumental in this achievement.”
The company’s growth represents a multi-pronged strategy that includes the sale of select hotel properties while retaining management, the development of new company-owned hotels and also acquiring additional third-party management contracts. OTO Development has grown to over 1,300 employees nationwide.
OTO Development currently manages 46 hotel properties and has a billion-dollar pipeline of new hotel development projects in high-barrier-to-entry gateway markets on the East and West Coasts.
According to Inc., “the list is a distinguished editorial award, a celebration of innovation, a network of entrepreneurial leaders… In 1982, Inc. introduced the Inc. 500 list of the fastest-growing privately held companies in the United States. Since then, this prestigious list of the nation’s most successful private companies has become the hallmark of entrepreneurial success and the place where future household names first make their mark. Pandora, 7 Eleven, Toys ‘R’ Us, Zipcar, Zappos.com and numerous other well-known brands have been honored by the Inc. 5000. In 2007, the Inc. 500 list expanded to the Inc. 5000, giving readers a deeper, richer understanding of the entrepreneurial landscape and capturing a broader spectrum of success.”
See OTO Development’s profile on Inc.5000 at www.inc.com/profile/oto-development