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Hotel developer and real estate firm join forces armed with hotel project pipeline

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A hotel developer based in Atlanta has joined forces with a real estate firm to form a new company with the core focus of acquiring hotels across the US.

Stormont Hospitality Group and The Allen Morris Co. have formed AMS Hospitality and created a pipeline of hotel projects in Georgia, North Carolina and Florida to be announced throughout 2020.

AMS will focus initially on southeast United States markets and launch with the closing of two new hotel projects in Atlanta: the 176-bedroom Star Metals Hotel, scheduled for completion in Q4 2021, and the 205-bedroom Midtown Union Hotel, slated to be finished in 2022. 

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Spencer Morris, Peter DiCorpo, Jim Stormont and John Cooper are among the Allen Morris Co. and Stormont Hospitality Group representatives who will comprise the board of AMS Hospitality.

All former Stormont Hospitality Group employees have become employees of the new venture, according to the announcement.

“The new company will be working with all major hotel companies and their respective brands, while also developing a series of local independent boutique hotels,” said W. Allen Morris, chairman and CEO of The Allen Morris Co., and principal of the new AMS Hospitality.

“The potential of the two organizations formally joining is extraordinary when taking into account the Allen Morris Company’s financial capabilities and six-decade long reputation for developing first-class projects and our own capabilities in the hospitality space,” Jim Stormont, co-founder of Stormont Hospitality Group, and president of AMS Hospitality, said.

Tags : acquisitionsdevelopmentfirm
Zoe Monk

The author Zoe Monk

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