MONTREAL, Nov. 12, 2014 /PRNewswire/ -- Joining household names in the hotel industry - such as Best Western, Marriott and Hilton - Rosdev Hotels Group made an appearance on Hotelier's annual feature, "The Top 50," an award for the highest-producing hotel groups in the industry.
Awarded based on an assessment made in 2013, the honor was recently announced to the public. As noted by Hotelier Magazine, placement on such a list was achieved by companies who remained buoyant despite a sluggish period in the industry and was determined by monitoring activity during two historically difficult years: 2011-2012.
Despite the market's slump in that period, principals of the company turned up the volume at Rosdev, one of Canada's largest real estate businesses, with over 50 years of experience in acquisitions, development, construction, leasing and management.
With over 2000 hotel rooms, strategically scattered throughout Montreal, Quebec, Ottawa, as well as a vast portfolio of U.S.-based assets in the Tri-State Area, Rosdev's hospitality arm has remained solvent through the recession. But Rosdev didn't merely survive, it achieved outstanding growth in its most recent cycles - thanks to a heavy-hitting capital improvement and management campaign, coupled with consistent volume.
Since 2010, the firm spent north of $60 million on capital improvements for its properties, some of which are brands like Holiday Inn, Garden Inn & Suites and Crown Plaza. Meanwhile, and despite allocating so much equity for long-term growth, the company's production allowed a 5.3 percent growth between 2011 and 2012, placing Rosdev Hotels Group on an enviable growth trajectory in the years that followed, and allowing similarly optimistic projections for 2015.
"Our hotel division poured a tremendous amount of focus and strategy into its growth," said Andrew Bougadis, Vice President of Operations and Development of Rosdev Real Estate Group. "So it's gratifying to see these efforts illustrated in the form of The Top 50 list."
About Rosdev Real Estate Group: Founded in 1960 by the Chairman of the Board, David Rosenberg, and now into its third generation, Rosdev, with its Head Office in Montreal, Quebec, is owned by the Rosenberg family with Michael Rosenberg as President and Chief Executive Officer. The Rosdev Group provides a full range of in-house services including legal, accounting, marketing, maintenance and planning with most properties having on-site management as well. Throughout its history, it has remained on top of the latest market trends and consistently demonstrated a capacity for identifying and developing real estate and business projects with competitive strengths and stable returns. It is ideally positioned for sustainability and growth through strategic acquisitions, developments, innovative leasing and quality property management. Including its affiliates, Rosdev's combined real estate holdings consist of over 10 million square feet of gross leasable area with more than 1500 dedicated employees supporting the various ventures.
SOURCE Rosdev Hotels Group