The Market Leader In Just 20 Years

Gold Key | PHR was launched in the mid-eighties as Professional Hospitality Resources (PHR). PHR initially was a hotel and restaurant development and management company. Later in the same decade the company launched Gold Key Resorts, a developer of time-share properties. Today, Gold Key | PHR is a unified development and management organization with an enviable record of sustained growth, prudent management and community investment. We owe much of our success to our ability to create synergy among our various companies. Early on, we saw our restaurants as profit centers, not just amenities. We quickly envisioned our time-share properties as hotel opportunities. And we proved from our earliest days that our most profitable properties were those we envisioned and developed ourselves.

1986:

Awarded management contract of Crosswinds Hotel, flagged as a Best Western. Property value increased 138% between 1987-1996. Awarded management contract for the Beach Cabaret Restaurant.

1987:

Developed Comfort Inn, the 84-unit oceanfront hotel-condominium. Profit for PHR from selling each unit exceeded $1 million.

1988:

Comfort Inn Grand Opening.

1989:

Created company to allow for resale of condominium owners. Gold Key Resorts opens first sales center. Formed BQTS Associates, L.P. as vehicle to convert Beach Quarters whole condo units to timeshare units. Obtained options on 85% of inventory.

1990:

Opened Beach Quarters Timeshare, a Clarion Resort with sales in excess of $50 million and profits in excess of $15 million. Developed software for servicing city-wide central reservations and marketing.

1991:

Purchased the Tropicana Hotel from a failed Savings and Loan; repositioned the hotel asset to achieve a 95% return. Awarded a management contract for the Dolphin Inn, a condo hotel project, increased earnings over 40%. 

1992:

Created Reservations Plus to operate as a central reservations system to support Visitor Bureaus nationwide. Developed Mahi Mah’s – the award winning 325 seat restaurant.

1993:

Salvaged the Ramada from bankruptcy, obtained equity partnership in hotel, received long-term management contract. Mahi Mah’s grossed a record breaking $3.1 million.

1994:

Awarded management contract on three additional hotels with AMRESCO. Purchased HOJO Inn, and reflagged the property as a Best Western Franchise. Received 4 franchise awards.

1995:

Retained management contract for hotel owned by Construction Pension Realty Corp. Successfully negotiated a reduction of debt for the Tropicana of $1 million. Received franchise awards for three PHR-managed hotels.

1996:

Successfully negotiated the sale of the Best Western Oceanfront for $7.1 million. Purchased land for development of a purpose-built vacation ownership project – the future Turtle Cay Resort. Received franchise awards for excellence for three PHR-managed hotels. Sold remaining optioned Beach Quarters Units.

1997:

Purchased the Tradewinds Hotel. Started construction on the purpose-built vacation ownership condominium project Turtle Cay. Received franchise award of excellence for two PHR-managed hotels. Won Virginia Beach RFP for the 31st Street Hotel private/public partnership.

1998:

Awarded management contract for the Hampton Inn Norfolk Airport. Ramada on the Beach received Gold Key Award. The Ramada restaurant Mahi Mah’s was second runner-up for “Restaurant of the Year”. Comfort Inn received the Brandie Award for the highest RevPAR within Comfort Inn system worldwide. Clarion Resort received the Choice Housekeeping Award.

1999:

Expanded to the Outer Banks with the purchase of the Nags Head Beach Hotel. Purchased the Thunderbird Hotel. Ramada received Renovation of the Year award.

2000:

Flagged the 96-room Nags Head Beach Hotel as a Travelodge. 2001: Broke ground on the 86-unit purpose-built mixed use development, the Boardwalk Resort Hotel and Villas. Hired Otto.

2002:

Opened the Boardwalk for sales and reservations. Opened Rockfish restaurant.

2003:

Broke ground on the $62 million Hilton Virginia Beach Oceanfront. Opened the Vacation Markets to generate resort leads.

2004:

Broke ground on Phase I of the $100 million Ocean Beach Club (OBC) resort complex and opened the OBC Shoppes with the new PHR restaurant, Pi Pizzeria and Malbon Brothers BBQ. Introduced Oasis Rooms at the Ramada.

2005:

Opened the Hilton Virginia Beach Oceanfront and OBC Phase I. Broke ground on OBC Phase II. Opened Catch 31, Salacia and SkyBar restaurants. Opened 2 new Vacation Markets. Opened 31 Ocean Shoppes, a Career Center, and a Central Laundry Facility.

2008:

Opened Phase II and broke ground on Phase III of the Ocean Beach Club resort complex. New market expansion of integrated hotels and timeshare.

2010:

Sold out Phase II. Continued to develop and manage integrated hotels and timeshare locally and in regional markets.

2011:

Began sales of Oceanaire.