Dive Brief:
- Dallas-based Coury Holdings launched Concert Hospitality, a hospitality management company designed to work with full- and select-service hotels under core brands, the company announced in a release obtained by Hotel Dive.
- Concert Hospitality will operate independently alongside Coury Holdings’ Coury Hospitality, which focuses on lifestyle brands.
- The new venture — which will be dedicated to “delivering personalized guest experiences and operational excellence” — will allow Coury Holdings to manage “a more diverse range of investments,” according to Founder and CEO Paul Coury.
Dive Insight:
Concert Hospitality’s portfolio will start with four hotels: two in the Dallas-Fort Worth metropolitan area, one in Los Angeles and one in Columbus, Ohio.
Paul Coury told Hotel Dive that, over the years, the company has had to turn away business that didn’t fit Coury Hospitality’s lifestyle-focused model.
“By creating Concert Hospitality as its own entity and allowing it to have its own DNA, we will keep both companies true to their missions,” the CEO said.
Operating Concert Hospitality and Coury Hospitality as independent entities, he added, will position the companies to better “drive topline revenue and profitability for hotel owners, while delivering more experiences and unmatched moments for our guests.”
Industry veteran Chris Charbonnet will oversee Concert Hospitality as its regional vice president of operations. Charbonnet has more than two decades of experience managing hotel portfolios at Schulte Hospitality Group, Aimbridge Hospitality, MCR Hotels and Prism Hotels & Resorts.
At Concert Hospitality, Charbonnet will be responsible for overseeing strategic operations and collaborating with property teams to optimize performance.
Coury Holdings — whose portfolio spans hospitality, real estate and investment — operates as a joint venture with investment firm NewcrestImage, which last June acquired a 50% stake in the company.
Since NewcrestImage’s founding in 2013, the company has been involved in transactions totaling over $3 billion across nearly 275 hotels.
