Spartanburg-based OTO Development said Monday, July 10, it has added seven properties to its portfolio of managed hotels.
The properties include the Hampton Inn & Suites San Diego/Poway, Hampton Inn Santa Barbara/Goleta, Hampton Inn & Suites Camarillo, Courtyard Charlotte City Center, Hyatt Place Washington DC/US Capitol, Residence Inn Baltimore Downtown/Inner Harbor, and Hampton Inn Baltimore Inner Harbor.
The new additions bring OTO’s properties to 66 in markets across the country. But that number could grow soon as the company said it has “several more in the pipeline.”
“We are experiencing — and pursuing — significant growth in our managed portfolio,” said Corry Oakes, president and CEO of OTO, in a statement. “OTO’s third-party management clients appreciate our ability to turn properties quickly — most in less than 30 days — followed by a proven operations strategy that provides measureable results in revenue, profitability, and guest satisfaction.”
In June, the company, which is an affiliate of Spartanburg’s Johnson Management and founded in Spartanburg in 2004, earned Hilton’s Developer of the Year award in the Focused Service Category.
During the previous month, OTO was named Marriott International’s 2017 CONNECT Developer of the Year.
“Our breadth and depth of experience — especially in urban markets — positions us to drive revenue and growth for the ownership groups that entrust us with their operations,” said Jason Boehm, vice president of business development for OTO, in a statement. “Our strategic initiative to expand third-party partnerships is accelerated by a proven ability to increase the value of every property in our managed portfolio. We are excited about ongoing discussions on new opportunities with interested REITS, private equity firms and individuals.”