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Archive for the 'Uncategorized' Category

New website launched

Please find our new website at Bannerot. We will update this blog for industry news and firm announcements so check back periodically. Thank you!

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Completion News: Civitas Capital Group Names Austin Khan Managing Director, Investments

We are pleased to have assisted Civitas Capital Group in the recruitment of Mr. Austin Khan as Managing Director, Investments. Austin Khan is an experienced hotel and real estate investment management professional and a senior member of the Investments team at Civitas. Khan’s 20 years of experience in real estate principal investment and advisory roles [...]

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NexPoint Hospitality Trust To Acquire Condor Hospitality Trust for $318 Million

NexPoint Hospitality Trust (NHT) and Condor Hospitality Trust announced the execution of a definitive agreement under which NHT’s operating partnership, NHT Operating Partnership, will acquire all of the outstanding equity interests of Condor and its operating partnership by merger for a total of approximately $318 million. NHT will acquire 15 select-service and extended-stay hospitality properties, [...]

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New search – Chief Executive Officer, TPI Hospitality

We are under way with a CEO search on behalf of TPI Hospitality, a privately held owner/operator headquartered in Minneapolis.  We seek a CEO with strong financial and portfolio strategy skills to lead the company through a generational transition.  The Chief Executive Officer will take a leadership role in driving company growth and profitability. This [...]

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More consolidation in the lodging industy: Ashford and Felcor

AHT’s bid to acquire Felcor continues combinations in the industry. Analysts opinions are mixed: Baird Equity Research noted that “while we believe a merger, if consummated, could be a meaningful value creation event for Ashford Trust, we ascribe a low probability to a merger being completed given that (1) Trust’s discussions with FelCor appear to [...]

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Completion News: TPI Hospitality, Chris Flagg SVP Development

We are pleased to have assisted TPI Hospitality in the recruitment of Chris Flagg as SVP Development. Chris joins TPI from Crestline Hotels & Resorts where he was SVP Development. Chris previously held development roles with Waterford Hotel Group and HEI Hotels & Resorts. A California native, he holds a Masters of Management in Hospitality [...]

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Completion News – Arby’s Restaurant Group Vice President Technology Strategy & Enterprise Architecture

  We are pleased to have assisted Arby’s Restaurant Group in the recruitment of Mr. Greg Blair as Vice President, Technology Strategy & Enterprise Architecture. In this newly created role, Greg will drive ARG’s five-year information technology strategy planning and implementation efforts and will ensure that I/T strategy aligns with business priorities and ensure the company’s enterprise architecture aligns [...]

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Completion News: Portman Holdings SVP Asset Management

We are pleased to have assisted Portman Holdings in the recruitment of Mr. Thomas DeSousa as Senior Vice President, Asset Management.  Reporting to Mr. Ambrish Baiswala, CEO, Mr. DeSousa will oversee all lodging assets developed by Portman Holdings in North America. Portman Holdings, LLC is a real estate development, investment and management company with an [...]

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Cascade Investment Acquires Atlanta Four Seasons

Cascade Investment, the private investment firm owned by entrepreneur Bill Gates, purchased the Four Seasons Hotel Atlanta from Host Hotels & Resorts, which has owned the property since 1998. Financial terms of the transaction were not disclosed. This marks Cascade’s second Four Seasons acquisition in recent weeks. The transaction includes the acquisition of 99,000 sq. [...]

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Extended Stay IPO. Can Hilton Be Far Behind?

Blackstone is making a market with an Extended Stay share offering of 10%-20% of the company’s value. (The was known in the late 80′s as “The Burlington Model” after the practice created by my then-employer, Burlington Northern Inc.  Very smart Seattle-based finance guys who created enormous value for our shareholders.)  The next shoe to drop, of [...]

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In early 2013, we engaged Larry Mendez at Bannerot Partners to conduct a search for a chief operating officer for our company, Supertel Hospitality – a publicly traded REIT located in Omaha, Nebraska. I was familiar with Larry through his work in the hotel industry, and our Board of Directors endorsed the assignment. Larry was incredibly thorough, communicative, and effective throughout the process. In the end, we hired a very qualified candidate that fit our culture perfectly.
Mr. Kelly Walters, CEOSupertel Hospitality
I’ve always found him to be the consummate professional. He works very hard to understand the client’s need and has an expansive network which allows him to execute against the strategy.  Larry is ethical beyond reproach and understands how to gently nudge the process forward and across the finish line.
Bill Upshaw, President Lodging and Residential, TPI Hospitality
“I highly recommend Larry Mendez and Bannerot Partners. In the search work that Larry did for us, he was able to identify high caliber candidates in a relatively short time span. We were pleased with the professionalism of the process and the final outcome. “
Bob Joyce, EVP Human Resources, Extended Stay America