OTO Development Grows Management Portfolio
SPARTANBURG, SC––OTO Development, part of The Johnson Group, is expanding its management portfolio with three additional hotels in a new market. The Spartanburg SC-based hospitality company develops and operates its own select-service and lifestyle hotels while also lending expertise to ownership groups ranging from publicly traded REITs to private equity firms to high net worth individuals.
The most recent third-party management contract, signed earlier this month, represents OTO’s entry into the dynamic Orlando, Florida market.
“We appreciate the partnership we have with our third-party ownership groups, rooted in mutual respect and trust. The opportunity to manage additional hotels in a new market is a vote of confidence in our performance and ability to create real value for owners,” says Corry Oakes, President/CEO of OTO Development. “While COVID-19 may have temporarily changed the hotel industry in a meaningful way, what has not changed it our commitment to effective strategies and relentless pursuit of opportunities to grow revenue, market share and profitability at all of our hotels.”
With a scalable platform comprising technology, human resources, revenue management and ecommerce functions, OTO offers a return on investment that outperforms industry standards.
OTO’s latest additions to its managed portfolio include Hyatt Place across from Universal ResortTM ,Hyatt House across from Universal ResortTM, and Hyatt Place Orlando/Convention Center.