January 28, 2019 LOS ANGELES – Lowe, a national real estate investor, developer and manager, announced today that it has formed a new, wholly-owned hotel and resort management company, CoralTree Hospitality Group. Led by senior executives who built their hospitality careers at Lowe-affiliated hotel management companies, CoralTree Hospitality Group launches with a portfolio of 17 lifestyle hotels and resorts under management across the U.S. and in Puerto Rico.
“We have the opportunity to return to our hospitality roots with a spirit of individuality, a focus on each property’s attributes and identity, and an emphasis on personalized, exceptional service.”
“The milestone sale of our prior hotel management company to Hyatt last year was the beginning of a fresh new chapter of hotel and resort management for Lowe and our CoralTree team,” said Lowe Co-CEO and CoralTree Chairman Robert J. “Rob” Lowe, Jr. “We have the opportunity to return to our hospitality roots with a spirit of individuality, a focus on each property’s attributes and identity, and an emphasis on personalized, exceptional service.”
The CoralTree Hospitality Group, with 3,400 employees nationwide, is led by President Thomas Luersen, a 20-year veteran of Lowe, Destination Hotels and Resorts and Two Roads Hospitality. Luersen has assembled a highly capable senior team including Executive Vice President Andre’ Fournier and Senior Vice President Robert Mellwig, who are also Lowe shareholders and former executive team members of Two Roads Hospitality and Destination Hotels. They bring strong leadership, hands-on hospitality expertise, and a commitment to the service, culture and values that define Lowe and its affiliates including CoralTree Hospitality. The team will be headquartered in Englewood, Colorado.
“Lowe’s legacy of hospitality, dedication to customer service and respect for the value of relationships, developed over 46 years of hotel and resort management, is ingrained in our culture and naturally continues with CoralTree Hospitality,” said CoralTree Hospitality President Thomas Luersen. “We take a different approach to travel by delivering distinctive, memorable experiences that celebrate the surroundings, community and culture of each individual property. No two visits to our properties will be the same. Further, as hotel owners and developers ourselves, we have a firsthand understanding of how to optimize the value of every hotel we manage.”
The 17 hotels and resorts currently managed by CoralTree Hospitality Group include independent, branded and soft-branded properties such as Terranea Resort on the Southern California coast, the El San Juan Resort in Puerto Rico, Hotel Lincoln in Chicago, and Hotel Talisa in Vail, Colorado.
In addition to providing onsite hotel and resort property management, CoralTree also provides hotel and resort asset management services. It currently oversees Lowe’s resort investments, including Wild Dunes Resort near Charleston, Sunriver Resort in Central Oregon and Suncadia Resort outside of Seattle, as well as hotel properties being developed by Lowe in Southern California and at the Charleston waterfront.
Lowe formed Destination Hotels in 1973 to operate two properties it owned and proceeded to grow the company into a significant operator of independent and lifestyle hotel and resort properties throughout the U.S. Two Roads was created in 2016 when Destination Hotels merged with Commune Hotels and Resorts, a Geolo-owned company, establishing Two Roads as the largest global collection of lifestyle hospitality brands. Two Roads Hospitality was sold to Hyatt in December 2018.