Tulsa-based Coury Properties branches into hospitality consulting

Journal Record, The (Oklahoma City), Nov 14, 2006 by Kirby Lee Davis

Building on its success with the Hotel Ambassador and Colcord Hotel, Coury Properties has launched a hospitality development and management unit.

This follows President and Chairman Paul Coury's strategy of developing his two signature hotels into a regional chain.

Called The Coury Collection, the new subsidiary will seek projects both in and outside the Sooner State.

Consulting and management services provided by the new business unit range from market analysis, planning and research to property assessments and acquisition, regulatory reporting, restaurant opportunities, branding, e-commerce, hiring and customer relations training.

"Within the hospitality sector," said Coury, "we specialize in turnkey solutions for owners and financial institutions. Our approach is very hands-on, very creative. Our goal is to help clients make informed decisions."

The new unit, with more than 30 years of combined industry experience under Executive Vice President Phillip King, will offer consulting services to property owners or investors considering upscale hotel development plans - with Tulsa's Ambassador and Oklahoma City's Colcord illustrating their talents.

Coury has enjoyed a 20-percent return on The Ambassador since the $5.5 million hotel opened in 2000. Many Tulsa observers have called it the city's finest hospitality offering, with Conde Nast Traveler recognizing the 55-room boutique getaway with a "mark of excellence."

The 108-room Colcord opened last month in downtown Oklahoma City after a $15 million renovation.

With both hotels, Coury played a very direct role in renovating and restoring the properties, even down to logo and tapestry designs.

"I can look at the shell of a building and see its potential, both structurally and in the competitive environment," said Coury.

Under his development strategy, the 21-year industry veteran aims to balance both the building's "original architectural integrity" and its need for modern amenities - all the while maintaining a solid business footing in revenue, occupancy and guest relations.

"In the luxury hotelier business, our core revenue is repeat business," said King. "We bring guests back by treating them with style, going out of our way to serve them, and building relationships. Our approach to hotel development consulting is nothing short of that same commitment."