The Evolution of Our Coastal Virginia Hospitality Management GroupIn 1986, CEO Bruce Thompson, entered the vacation ownership industry, co-founding the highly successful Gold Key Resorts with 30 employees and 170 rooms. Thompson then expanded into hotels and restaurants, and the company evolved to include Professional Hospitality Resource (PHR).
Today, with $500-million in asset value and $170-million in annual revenue, Gold Key | PHR boasts over 1,300 keys under the Ramada, Hilton and Marriott flags, multiple award-winning restaurants and is the state's largest hospitality employer. The vacation ownership side of the company, Gold Key Resorts, which included five timeshare resorts at the Virginia Beach Oceanfront and one resort in Kitty Hawk, NC, was sold to Diamond Resorts International, Inc. in 2015.
The company has exponentially grown to develop, own and manage hotels, including Virginia's first Marriott Autograph Collection Hotel, commercial real estate and luxury residential projects in the mid-Atlantic. In 2011, Gold Key | PHR launched a large mixed use development at the Virginia Beach Oceanfront that houses office space, an apartment complex and retail shops.
Gold Key | PHR now dominates every aspect of the Virginia Beach resort area's hospitality industry: employing the largest workforce in Virginia Beach, investing the most development dollars, and owning and operating some of the most successful restaurants in Virginia.