“I'm one of the owners of the hotel… Thanks for your business,” Wright told guests Renee and
The Turpas seemed thrilled. Renee volunteered that they are
That's the kind of attention to guest services that is spurring Wright Investments' growth and its impending move to a larger, more upscale headquarters.
The 35-year-old firm buys, fixes and sells hotels. Wright Investments has owned and/or managed about 180 of them since Wright's father,
The firm has 25 hotels now, 13 of which it has some ownership in.
Now, Wright Investments is building its second “
Wright Investments also expects by June to move from the 6,500-square-foot building it owns at
“It's a much more efficient space,” Wright said of the Ridgeway Center building. “Frankly, it really takes us up a notch.”
Wright could easily manage another 20 hotels out of the Ridgeway Center space, “and we've got room to expand there,” he said.
Wright Investments is “really good at identifying good markets with properties that have great potential, good bones,” said hotel industry consultant
“They've got a lot of investors who have been very happy with almost all the properties they have invested in.”
Asked if Wright Investments could be compared to companies that fix and flip houses, Wright responded with a laugh, “It's very similar but definitely more sophisticated than that.
“It's as simple as buying an asset for
On average, Wright keeps ownership of a hotel for five or seven years. Enough time to “allow us to create that value. Get in there and work with the staff and maximize the value of the asset and sell it at the appropriate time.”
“We've been in this asset multiple times in different iterations,” Wright said. “And we've treated everybody right throughout.”
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