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Cross Country Ventures Inc. Arranges Purchase and Re-flagging of Valu-Lodge in Macon, Georgia
 
March 9, 1999 - A group of black investors purchased the 100 hundred room Valu-lodge hotel that is located in downtown Macon, Georgia. We took possession of the property nearly forty-five days ago said Gary Cross who is the CEO of Cross Country Ventures Inc., of Atlanta Georgia. We have since signed a franchise agreement to begin operating as Travelodge Suites, Downtown. 

The property, which was obtained at an undisclosed amount, is undergoing massive renovations. We have been provided a punch list from Cendant, but we plan to exceed that by far, said Cross. 

We have begun to reposition the property. We have replaced a low budget weekly clientele into an upscale mid-market niche. The Average Daily Rate was just under twenty dollars per day when we took over. We are now over thirty dollars per room per day and rising,  Cross said. 

We intend to assist this city in positioning its tourism products. Presently there are only two hotels in the downtown area of Macon, a Crown Plaza and now our Travelodge Suites. 

We are very excited about showing the entire industry that African Americans, although not very visible in the lodging business, can make good operators. 

Gary Cross is also the founder & executive director of the National Association of Black Hospitality Allies Inc. NABHA was established for the purpose of organizing and informing blacks to become active as owners of lodging. We have established relationships with most of the major hotel franchise companies says Cross. Our goal is to assist black investors in acquiring one hundred hotels over the next few years. 

This first project only scratches the surface. We wanted to show everyone that we could do what we say. Yes, blacks can own first class franchised lodging products and more importantly, mainstream hotel companies are just as excited to conduct business with us as they are with any other qualified hotel investor. Our Macon, Georgia location has tremendous upside potential. This is an example of the types of opportunities that exist. 

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Contact:
Gary Cross  
404-522-7729 office
404-522-2949 fax
E-mail: [email protected]
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Also See: African-Americans Capitalize on Lodging's Stability, Growth / NABHA / Oct 1998 

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