Concord takes seven Poteat hotels into management
Concord Hospitality has assumed management of the Poteat Hotels portfolio in North Carolina. The assignment covers seven hotels and 711 rooms. Concord announced the mandate from Raleigh, the city where the operator keeps its headquarters.
The properties move to Concord management through October 2026. The first transfer closed on 1 October, and three more followed on 12 October.
Concord Hospitality Enterprises Company works from 11410 Common Oaks Drive in Raleigh. The company also trades as a developer and an owner.
Seven hotels and 711 rooms across five cities
The portfolio sits in five cities. They are New Bern, Greenville, Wilmington, Boone and High Point. The release lists every hotel with its room count.
The 98-room Courtyard New Bern and the 115-room Courtyard Greenville hold the eastern end of the intake. The 125-room Aloft Wilmington and the 53-room Best Western Wilmington share a city. The 100-room Courtyard Boone and the 113-room Hampton Inn Boone stand in the western mountains, and the 107-room Courtyard High Point completes the set. Those seven counts add to 711, and the room counts run from 53 to 125.
The Wilmington pair and the 1 October transfer
The 53-room Best Western Wilmington moved to Concord management on 1 October. It is the only property the release dates to that day. Wilmington carries two hotels in the portfolio, the Best Western and the 125-room Aloft.
Boone and High Point follow on 12 October
Concord assumed management of the 100-room Courtyard Boone, the 113-room Hampton Inn Boone and the 107-room Courtyard High Point on 12 October. That is the second dated step in the release.
Four of the seven hotels had changed hands by 12 October. The release states that the properties will transition throughout October.
A portfolio split between full-service and select-service
Concord describes the intake as a mix of full-service and select-service hotels under global brands. The release names Courtyard, Aloft, Best Western and Hampton Inn across the seven addresses.
Concord’s about page records approved operator status with Marriott International, Hilton, Hyatt, Choice Hotels International and IHG.
Will Loughran on the home-state assignment
Will Loughran, chief operating officer of Concord Hospitality, said the company is excited to partner with the Poteat family and welcome the seven properties to its growing North Carolina portfolio. He described Concord as a North Carolina-based company with a deep understanding of the communities and markets where these hotels operate. He said the partnership is an example of the long-term relationships the company values.
The operator’s leadership page lists Loughran as chief operating officer, beside Mark Laport as president and chief executive officer and Julie Richter as chief financial officer.
Reg Poteat on choosing an operator
Reg Poteat, chief executive and founder of Poteat Hotels, said the family had been awarded National Hotel of the Year on several occasions over the last decade and had received six Conrad Awards from Hilton. He said the family chose Concord because it was the most qualified of the management companies to continue the Poteat legacy.
He named integrity, value and community as cornerstones of the family and the business. He said the family trusts Concord to care for the properties, the associates and the communities they serve.
The terms the assignment does not disclose
The announcement carries no management fee, no contract term and no purchase price. The Poteat family keeps ownership of the seven hotels and Concord takes the management contracts.