Concord Hospitality currently has an ambitious pipeline of 12 hotels under construction and is providing third-party management services for another five in active construction, with all 17 hotels to be managed by Concord upon opening. Once they are completed, the company will surpass the century mark—100 hotels under management—and open 12 hotels in as many months.
“Having weathered a number of hotel cycles, we were confident coming out of 2009 that the near future would be positive, and we took a well calculated risk that this cycle would be a bit unique,” says Mark Laport, Concord’s president and CEO. “We were one of the few companies who developed continuously through the downturn, setting the stage for the most aggressive growth phase in our company’s 30-year history.”
The company recently broke ground on a $91 million Hyatt House in Jersey City, New Jersey—the brand’s first upside-down hotel with a top-floor lobby. Concord is also developing two New York properties—an AC Hotel in Hudson Yards and a Cambria Hotel and Suites close to Times Square, as well as a Cambria Suites on 28th Street and a Courtyard by Marriott on Greenwich Street adjacent to the September 11 Memorial & Museum site. Additionally, Concord is developing the first Marriott full service/Residence Inn dual-brand hotel in Columbus, Ohio, near Ohio State University.
