TMGOC Ventures takes 50% stake in Lexima Lodging

CHARLESTON, South Carolina, and BOCA RATON, Florida – Developer TMGOC Ventures has taken a 50% interest in third-party management company Lexima Lodging with the latter gradually taking over management of most TMGOC hotel assets. Further terms of the deal were not disclosed.

The deal is intended to propel Lexima's growth in all phases – human capital, IT infrastructure, and future business development.

“The primary focus is on assisting Lexima in broadening its outreach to other institutional hotel owners who desire a higher level of service from their management company,” TMGOC Co-Founder and Managing Partner Glenn Alba told Hotel Investment Today. “We believe Lexima will be ideally positioned in the future with 50 to 70 hotels under management, increasing over time and with a select group of owners.”

Lexima, founded in 2019 and today with 18 hotels and 2,500 rooms under management in 10 states, has experience working with brands from Hyatt, Marriott, Hilton, IHG and Choice. The company is led in partnership by CEO John Cantele, COO David Emery, and CFO Kay Auer. Cantele’s career includes leadership roles with CorePoint Lodging, La Quinta Holdings, and Hyatt Hotels where he served as global head Select Hotels.

Alba and Cantele have worked together for more than 15 years – more recently when Alba was at Blackstone Real Estate and more closely when Cantele was COO of La Quinta Inns & Suites during Blackstone ownership, and further after it became a publicly traded company.

The TMGOC-Lexima management exchange process began with The Moxy Charleston Downtown on March 1. Lexima has also managed another TMGOC property, the Holiday Inn in Boca Raton, Florida, since 2023.

In addition, with the news starting to reach other owners hotel, Lexima has already won a new operating agreement with The Waterfront Homewood Suites, a 104-room property in Wichita, Kansas, effective March 1.

“Their combined experience working with many of the brands already in our portfolio and reputation for revenue and hotel management provides the synergy we desire moving forward,” said Alba. “This strategic alignment immediately elevates our operations and will drive increased asset value.”

Today, TMGOC’s portfolio consists of $1 billion in existing and development pipeline investments comprising 2,620 hotel keys, along with opportunistic multi-family, office and retail investments.