OTO Development Makes Inc. 5000 List – for the 6th Time
August 30, 2017 5:49am
SPARTANBURG SC (AUGUST 30, 2017) – OTO Development has earned a spot on the 2017 Inc. 5000 list of the fastest-growing private companies in America. This is the sixth time that OTO, a Johnson Management company, has made the list.
“As a 6th time honoree, OTO Development is part of a very select group of companies,” said Eric Schurenberg, President/Editor-in-Chief of Inc. magazine, in making the announcement. “We call it the Honor Roll and fewer than a tenth of Inc. 5000 honorees -- an already quite select group -- ever achieve this milestone.”
The Inc. 5000 list was announced this month; a conference/awards gala is planned for October.
“What an accomplishment, making the Inc. 5000 Honor Roll,” said Corry Oakes, CEO of OTO Development, a Spartanburg-based hospitality company with a portfolio of 66 – and counting -- owned and/or managed hotels within the Marriott, Hilton and Hyatt brand families. “Our continued momentum comes via the incredible efforts of our 2,200+ employees, both corporate and on property. We grow by developing excellent properties, providing an exceptional guest experience, and ensuring superior ROI for management clients as well as investors.”
Sustainable growth, according to Oakes, is more than simply increasing numbers.
“It’s not enough to just add room keys to our portfolio,” he said, in reference to OTO’s smart-growth strategy that comprises new hotel development in key urban markets and the addition of management contracts with clients ranging from publicly traded REITs to private equity firms to high net worth individuals. “OTO intends to be among the fastest-growing companies in lodging with thoughtful, strategic expansion.”
The Inc. 5000 is ranked according to percentage of revenue growth over three full calendar years. Companies must be U.S. based, privately held and independent. Revenue in the initial year must have been at least $100,000, and revenue in the most recent year must have been at least $2 million. A complete list of Inc. 5000 companies is available on the magazine’s website.
Tags: inc. 500,
inc. 5000 list,
OTO Development, a Johnson Management company, is an award-winning, fast-growing hotel development and management company. Founded in 2004 and partnering with the Hilton, Hyatt and Marriott brands, OTO's industry leadership position is anchored by a portfolio of excellent hotels staffed by exceptional people. The company has developed more than 70 hotels over the past 13 years while also adding to its list of managed properties, which now comprise approximately 8,600 room keys. Today, OTO's impressive growth is focused on new urban development projects in San Francisco, Los Angeles, San Diego, Manhattan and Washington DC as well as increasing emphasis on adding new management contracts with clients ranging from publicly traded REITs to private equity firms to high net worth individuals. For more information, visit OTODevelopment.com.
Contact: Diane Jackson
Meyer Jabara Hotels to Operate Cambria South Boston
OTO Development Opens New 168-Key SpringHill Suites by Marriott in Belmont, California
Mediocre Managers Are All Over in Hospitality
Lotte Tour Development and Hyatt Hotels Enter Agreement for New Build Grand Hyatt Hotel in Jeju City, South Korea
Yes -- Service is Selling, Too!
Hospitality Funding Advises Cambria Hotels Expansion in Sonoma County, California
Strand Hospitality Services Assumes Management of the SpringHill Suites Atlanta Six Flags
OTO Development Adds 7 Properties to Managed Portfolio
Hunden Strategic Partners Announces Lakefront Hotel Developer RFQ for Michigan City, Indiana
Summit Hotel Properties Completes Acquisition of 181-Room Courtyard by Marriott Charlotte City Center for $56.3 Million
Scarlett Hotel Group Takes Over Management of Marriott Residence Inn in Downtown Clearwater
SMS Lodging Assumes Management of Hotel Astor in Miami
Accubase Introduces Core Services for the Hospitality Industry
Concord Hospitality Begins Construction on the 160-room Hyatt Place Jacksonville with Opening Schedule for Late 2018
What Hoteliers Need To Know About Indonesia
Hotel Development Trends and Opportunities South America
Hawkeye Hotels Breaks Ground on Three New Midwest Hotel Projects
Excellence Group Breaks Ground on $110 Million Excellence Oyster Bay Luxury Hotel Project in Montego Bay, Jamaica
Wyndham and Zeus International Enter Strategic Development Partnership for 20 New Hotels
Owned and Managed by OTO Development, Courtyard by Marriott Redwood City Opens in California
Please login or register to post a comment.