Heart of America Group

What Heart of America Group does

Heart of America Group is a privately held, family-owned hospitality and real estate development company founded in 1978 by Mike and Kim Whalen. Headquartered in Des Moines, Iowa with operations support in Moline, Illinois, the company operates a vertically integrated design-build-operate platform spanning restaurants, hotels, multifamily residential developments, car washes, and energy bar concepts across the Midwest and select states. Its portfolio includes 8+ proprietary restaurant brands (Machine Shed, Johnny's Italian Steakhouse, Burger Shed, Thunder Bay Grille, Fifth Avenue Syndicate, The J Bar, The Republic on Grand, Gramma's Kitchen, Hyper Energy Bar, Par T Barn), 5 boutique hotel brands (Hotel Renovo, Revel Hotel, The Rewind Hotel, The Axis Hotel, Wildwood Lodge), franchise operations under Hilton Tapestry Collection, Marriott, IHG, and Hyatt, four multifamily developments totaling 448+ units (Tempo, The Aston, The Ludlow, Southport Lofts), and three Tommy's Express Car Wash locations.

The company's core technology centers on sustainable building practices including geothermal HVAC systems, solar thermal, heat pumps, energy recovery ventilation, electrochromic smart glass, ICF construction, and EV charging stations — delivered through an in-house architecture and construction team led by VP of Construction John Schulz. Revenue mechanics combine one-time transactions (restaurant F&B sales, hotel rooms, beverage sales), recurring subscription revenue (multifamily leasing, car wash memberships, franchise royalty income), and event-driven income (weddings, corporate events, social gatherings at hotels and restaurants). Customer segments are predominantly consumer-facing: leisure and business travelers, dining patrons, event hosts, urban residents, and quick-service beverage/car wash consumers across Iowa, Illinois, Wisconsin, Kansas, Minnesota, Nebraska, Missouri, Colorado, and Texas.

The company does not publicly disclose financial results and operates as HOA Development LLC under Illinois jurisdiction. No external institutional funding or public listing is present; expansion is entirely organic. The Whalen family remains actively involved in leadership, with Mike Whalen serving as Founder and President/CEO.

Name

Heart of America Group

Legal name

HOA Development LLC

Website

https://heartofamericagroup.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Heart of America Group is a privately held, family-owned hospitality and real estate development company founded in 1978, operating restaurants, boutique and franchised hotels, multifamily residential, car washes, and energy bars across the Midwest through a vertically integrated design-build-operate platform.

Ownership category

akta.pro rank

Product category

Hospitality and Real Estate Development

NAICS

Traveler Accommodation (7211), Management of Companies and Enterprises (55), Drinking Places (Alcoholic Beverages) (7224)

SIC

Hotels & Motels (7011), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Catering Coordination & Bar Service Management (Non-restaurant) (HSACAAAH)

akta.pro secondary industries

Corporate Incentive, VIP & Hospitality Programs (HSACADAN), Hotel & Resort Banqueting (In-House Catering) (THAHAKAC), Event Rentals (Tents, Furniture, A/V, Decor) (HSACAAAG)

Keywords

• Hospitality management services
• Restaurant brand portfolio
• Boutique hotel operations
• Multifamily real estate development
• Commercial property development

Headquarters

HQ city

Moline

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Restaurant Operations: Own and operate portfolio of award-winning restaurants including Machine Shed, Johnny's Italian Steakhouse, Burger Shed, Thunder Bay Grille, Fifth Avenue Syndicate, The Republic on Grand, The J Bar, Gramma's Kitchen, and The ParT Barn. Revenue generated from food and beverage sales across multiple Midwest locations.
2. Hotel Operations: Own and operate boutique hotels under both proprietary brands (Hotel Renovo, Revel Hotel, The Rewind Hotel, The Axis Hotel, Wildwood Lodge) and franchise agreements with Hilton (Tapestry Collection), Marriott (AC Hotel, Fairfield Inn), IHG (Holiday Inn), and Hyatt. Revenue from lodging, food & beverage, and meeting/event services.
3. Franchise Fees and Royalty Income: Operating hotels under franchise agreements with major hospitality brands generates franchise fee and royalty income streams.
4. Multifamily Real Estate Development: Develop and lease multifamily residential properties including Tempo (110 units, Des Moines), The Aston (161 units, Des Moines), The Ludlow (Chicago), Southport Lofts (Chicago), and Randolph Street Retail & Living. Revenue from residential leasing and commercial ground-floor spaces.
5. Hyper Energy Bar Coffee and Energy Drinks: Young brand offering handcrafted coffee and infused energy drinks through double drive-thru locations. Revenue from beverage sales across multiple Midwest locations.
6. Tommy Express Car Wash: Operate three Tommy Express Car Wash locations in greater Des Moines area (Grimes, Waukee, West Des Moines) offering express tunnel car washing with membership subscription model.
7. Commercial Real Estate Development: Design, build, and manage commercial and retail developments including Prairie Crossing (Altoona, IA), East Village (Des Moines), Elmore Marketplace (Davenport), and historic renovations.
8. Design and Construction Services: In-house design and construction capabilities providing creative/technical design services, site planning, feasibility studies, construction documents, and construction observation. Services provided for own properties and potentially external clients.

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Heart of America Group owns, operates, and develops a diversified portfolio of restaurants, boutique and franchised hotels, multifamily residential properties, entertainment venues (The Par T Barn), coffee/energy drink drive-thru locations (Hyper Energy Bar), and car washes across the Midwest. The company leverages a vertically integrated Design.Build.Operate. platform that manages projects from conceptualization through construction and ongoing operations. Revenue is generated primarily through food and beverage sales, lodging, residential leasing, and subscription-based services.

Product overview

Heart of America Group is a hospitality and real estate development company operating a diversified portfolio of restaurant, hotel, and multifamily residential brands across the Midwest. The company owns and operates multiple restaurant concepts including Machine Shed Restaurant (farm-themed family dining), Johnny's Italian Steakhouse, Burger Shed, The J Bar, The Republic on Grand, Fifth Avenue Syndicate, Thunder Bay Grille, and Gramma's Kitchen & Checkered Flag, plus entertainment venue The Par T Barn (indoor golf). Their hotel portfolio includes boutique brands Hotel Renovo, Revel Hotel, The Rewind Hotel, The Axis Hotel, and Wildwood Lodge, along with managed locations under Hilton, Marriott, IHG, and Hyatt franchises. Additional business segments include Hyper Energy Bar (coffee and energy drinks with double drive-thru model), Tommy's Express Car Wash, and multifamily residential developments (Tempo, The Aston, The Ludlow, Southport Lofts) in Des Moines and Chicago. The company also provides design, construction, and property management services through integrated internal teams.

Differentiator

Problem solved

Functional benefit

Brands

• Machine Shed Restaurant: Farm-themed family restaurant chain dedicated to the American farmer, serving chef-driven farm-fresh fare made from scratch daily
• Johnny's Italian Steakhouse
• Burger Shed
• Thunder Bay Grille
• The J Bar
• Fifth Avenue Syndicate
• Hotel Renovo
• Revel Hotel
• The Rewind Hotel
• The Axis Hotel
• Wildwood Lodge
• Hyper Energy Bar
• Tommy's Express Car Wash
• The Par T Barn
• The Republic on Grand

Products and services

• Machine Shed Restaurant Farm-themed family restaurant chain founded in 1978, serving chef-driven farm-fresh fare made from scratch daily. Features buffets, breakfast, and comfort food across multiple Midwest locations.
• Johnny's Italian Steakhouse Italian steakhouse concept combining classic steaks with Italian cuisine and signature dishes like Steak de Burgo and Chanel No. 5. Operates across 11 locations.
• Burger Shed Casual burger restaurant serving Shed favorites, specialty burgers, and handcrafted shakes made from scratch daily.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core.

• Hilton (Tapestry Collection)coreChannel Partner/ Reseller/ DistributorHeart of America Group operates multiple hotels under Hilton's Tapestry Collection brand including The Rewind Hotel, The Axis Hotel, Hotel Renovo, and Revel Hotel. These are franchise/franchisee relationships where HOA owns and operates the properties under Hilton's brand standards and flag.
• Marriott International (AC Hotel, Fairfield Inn)coreChannel Partner/ Reseller/ DistributorHeart of America Group operates AC Hotel Des Moines and multiple Fairfield Inn locations under Marriott franchise agreements.
• IHG (Holiday Inn, Holiday Inn Express)coreChannel Partner/ Reseller/ DistributorMultiple Holiday Inn and Holiday Inn Express properties operated under IHG franchise agreements across Iowa, Illinois, Wisconsin, and Kansas.
• Hyatt (Hyatt Place)coreChannel Partner/ Reseller/ DistributorHyatt Place Altoona operated under Hyatt franchise agreement.
• Wildwood Hills RanchcoreOthersHeart of America Group is a regular supporter of Wildwood Hills Ranch, a 400-acre ranch serving at-risk youth. Founded by Mike and Kim Whalen in 2001, the ranch prepares approximately 1,000 at-risk students annually with life skills and hope. HOA contributes annually to this organization.
• United WaycoreOthersHeart of America Group has proudly supported United Way through donations and past participation in activities such as the United Way Day of Caring.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Landry's, Inc. Privately held Tilman Fertitta-controlled integrated hospitality and entertainment operator with restaurants (Bubba Gump, Morton's), hotels (Golden Nugget), and entertainment venues. Mirrors HOA's integrated design-build-operate approach to multi-concept hospitality and entertainment across owned real estate.
• Marcus Hotels & Resorts: Midwest-based hotel and restaurant operator (subsidiary of The Marcus Corporation) running owned and managed hotels with companion restaurants and event spaces. Closest geographic and operational analog to HOA's Midwest hotel-restaurant portfolio.
• Pappas Restaurants: Privately held, family-owned multi-concept restaurant operator (Pappadeaux, Pappasito's, Pappas Burger, etc.) running independently developed concepts primarily across the Midwest/Gulf states. Comparable privately held, family-run, multi-brand restaurant model.
• Cracker Barrel Old Country Store: Publicly traded family-themed casual-dining chain with strong Midwest/South footprint. Comparable farm-themed family dining positioning versus HOA's Machine Shed brand and similar heavy concentration in secondary Midwestern markets.

Broad incumbents

• Aimbridge Hospitality: Largest third-party hotel management company in North America operating franchised and independent hotels across major chains. Comparable franchise-management structure to HOA's portfolio of branded hotel operations across Hilton, Marriott, and IHG families.
• Hyatt Hotels Corporation: Major hotel brand and franchisor where HOA operates Hyatt Place Altoona. Provides franchise-program comparison and brand-relationship context for HOA's hotel portfolio.
• Darden Restaurants: Largest publicly traded multi-brand full-service restaurant operator (Olive Garden, LongHorn, Cheddar's, Capital Grille). Comparable multi-brand casual/fine-dining operating model and franchise/owned-portfolio structure, with strong recognition that HOA's portfolio could earn if scaled successfully.
• Hilton Worldwide: Major hotel brand and franchisor where HOA operates the Tapestry Collection properties and Hilton Garden Inn locations. Represents a critical franchise partner and benchmarks brand-program economics for HOA's boutique hotel segment.
• Bally's Corporation (now Standard General / casino & hospitality): Diversified hospitality and entertainment operator with owned real estate, hotels, restaurants, and entertainment venues. Comparable integrated hospitality model with owned-real-estate foundation and entertainment adjacency (ParT Barn entertainment concept).

Emerging players

• Driftwood Hospitality Management: Hotel management and acquisition platform with owned and third-party-managed hotels, including conversion-renovation capabilities. Comparable design-build-operate approach in the boutique/soft-brand segment HOA pursues through Tapestry Collection.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/hyperenergybar
• Facebookfacebook.com/HeartofAmericaGroup
• LinkedInlinkedin.com/company/heartofamericagroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Heart of America Group