Mar 18, 2024 TMGOC VENTURES ANNOUNCES STRATEGIC INVESTMENT AND PARTNERSHIP WITH HOTEL MANAGEMENT LEADER LEXIMA LODGING
TMGOC VENTURES ANNOUNCES STRATEGIC INVESTMENT AND PARTNERSHIP WITH HOTEL MANAGEMENT LEADER LEXIMA LODGING
The new partnership combines the capital strength and hotel portfolio of TMGOC with Lexima’s management expertise to bolster hotel operations and increase third-party management capabilities
CHARLESTON, S.C. and BOCA RATON, Fla. – TMGOC Ventures (TMGOC), a real estate and development private equity firm headquartered in Charleston, S.C. and Boca Raton, Fla., today announced a strategic investment and partnership agreement with Lexima Lodging (Lexima), a leading third-party hotel management company.
This collaboration increases Lexima’s visibility and scale, infusing new capital resources to create a more efficient and powerful third-party hotel management platform that offers enhanced capabilities for the entire industry. The platform is backed by TMGOC’s capital allocation and hotel portfolio strength and bolstered by the operational excellence Lexima is known for.
“When evaluating prospective management partners, Lexima stood out as the best fit for our organization,” said TMGOC Co-Founder and Managing Partner Glenn Alba. “Their combined experience working with many of the brands already in our portfolio and reputation for revenue and hotel management provides the synergy we desire moving forward. This strategic alignment immediately elevates our operations and will drive increased asset value.”
Lexima is a recognized operations leader with over 30 years of experience in third-party hotel management, investment, and asset management. They have extensive experience working with the world’s most recognized hotel brands, including Hyatt, Marriott, Hilton, IHG, and Choice. The company is led in partnership by John Cantele, David Emery, and Kay Auer. John is an accomplished hotel management executive with a record of elevating customer experience, hotel financial performance, and market share. His career includes leadership roles with CorePoint Lodging, La Quinta Holdings, and Hyatt Hotels where he served as Global Head Select Hotels.
He is supported by David Emery, chief operating officer, and Kay Auer, chief financial officer, hospitality leaders with a strong reputation for asset management, deal structuring, financing, and hotel development. Together, they form a complementary collaboration serving institutional owners and other portfolio-based clients.
“We are thrilled to take Lexima to the next level through this collaboration with Glenn, Sunju, and the TMGOC team,” said Lexima Chief Executive Officer John Cantele. “As we continued to meet with them, it became clear that this was a win-win allowing us to scale immediately by aligning our operational expertise with the capital strength TMGOC provides. It’s already allowed us to hit the ground running, and we look forward to a bright future together.”
The new agreement will see Lexima gradually assume operational control of the majority of TMGOC properties. This process began with The Moxy Charleston Downtown on March 1. Lexima has managed another TMGOC property, the Holiday Inn in Boca Raton, Fla., since 2023.
The joining of forces is already paying off, as the influx of resources allowed Lexima to win a new operating agreement with The Waterfront Homewood Suites, a 104-room property in Wichita, Kan., effective March 1. Proforma, Lexima will have 18 hotels and 2,500 rooms under management in 10 states.
Visit leximalodging.com to learn more about the newly enhanced operations platform.
ABOUT LEXIMA HOTEL MANAGEMENT SERVICES
Lexima Hotel Management Services is a recognized hotel operations leader, with more than 30 years of experience in third-party management, investment, and asset management. It is a sought-after operations leader, born from its extensive experience working with major brands, including Hyatt, Marriott, Hilton IHG, and Choice. Lexima has 18 hotels and 2,500 rooms under management in 10 states. The company was founded in 2019 and is headquartered in Wichita, Kan. To learn more, visit leximalodging.com.
ABOUT TMGOC VENTURES
TMGOC Ventures is a real estate and development private equity firm with more than 150 years of combined experience specializing in the hospitality and multi-family sectors. Co-founded by Sunju Patel and Glenn Alba, TMGOC Ventures was born out of an entrepreneurial spirit and is guided by an institutional mindset focused on acquiring and developing a robust hotel and residential portfolio that creates value for investors, partners, and communities. TMGOC’s portfolio consists of $1 billion in existing and development pipeline investments comprising 2,620 hotel keys, along with opportunistic multi-family, office and retail investments. The company is headquartered in Charleston, S.C. and Boca Raton, Fla., with additional offices in Aspen, Colo., and Oakland, C.A. To learn about investment opportunities and current projects, visit www.tmgocventures.com.
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