River Homes is acquired by a St. Francisville property management company

St. Francisville-based Louisiana Hospitality Group has acquired home rental and property management company River Homes and its clientele for an undisclosed amount.

River Homes owner Thomas Schumacher tells Daily Report that he reached out to the hospitality group roughly two months ago to gauge interest. The parties began converting all of the homeowners last week.

“What Louisiana Hospitality Group is doing is pretty incredible,” Schumacher says. “They’re just getting bigger and bigger. They started with St. Francisville Inn and did a great job with that. They started doing short-term rentals and are now entering the False River market. They have the staff and the resources.”

Schumacher incorporated River Homes in fall 2020 and launched the company in early 2021 with co-founder Elizabeth Koke.

The business, which is based in New Roads, offers rental and property management for houses in the False River area. Since its launch, River Homes has grown to 18 employees, managing a portfolio of nearly 85 homes. Over the last 2½ years, it has earned more than $3 million in revenue.

Schumacher is stepping away from his previous role after accepting a job with northwest Florida-based real estate developer and asset manager St. Joe Company. He says he will also work with Louisiana Hospitality, but in a limited capacity.

Louisiana Hospitality Group owns and operates luxury inns, restaurants, guest cottages and spas in Louisiana. Jim Johnston and Brandon Branch own the company.

“In terms of False River, they are finishing what we started and have big plans for the short-term rental market in south Louisiana,” Schumacher says.