October 20, 2016 | Management
SPARTANBURG, SC – OTO Development added five contracts to their managed portfolio this month, continuing their steady growth as a third-party management provider. Specializing in upscale select-service hotels, the hospitality company will now provide operational management to the following properties, concentrated in the Mid-Atlantic and Florida markets:
“Our success in management really comes down to our core principle of adding lasting value to each and every property in our portfolio,” remarked Jason Boehm, OTO’s VP of Business Development. “We’re committed to driving revenue and increasing returns for our ownership groups; with the addition of these five properties, we’re looking forward to even more opportunities for growth as we look ahead into 2017.”
"Our goal is to make meaningful improvements to our managed properties that lead to improved bottom lines and asset values for owners," summarized Corry Oakes, OTO Development's CEO. "We are pleased about the continued growth with this part of our business, and believe we have a very scalable platform to add value for other owners."
Now managing properties in key markets across the U.S., OTO’s recent areas of significant growth include the mid-atlantic region, South Florida, and California, with plans to expand their footprint.