Business & Finance

McNeill Hotel Company Retains Investment Banking Firm To Raise Joint Venture Capital

Memphis, TN. March 22, 2017 - McNeill Hotel Company, a nationally-recognized hotel owner, developer, and manager, announced today that it has retained the investment banking firm, RobertDouglas, to raise an initial commitment of $50 million of joint venture capital to accelerate the roll-out of the firm’s growing portfolio of strategically-located, premium select-service hotels. McNeill, which has historically funded its projects through its proprietary network of capital sources, is seeking additional fundings to allow the company to aggressively pursue individual, portfolio, or entity level investment opportunities throughout the United States.

McNeill Hotel Company is led by Phillip H. McNeill, Jr. and Mark Ricketts, second-generation hoteliers with a combined 60 years of hospitality and commercial real estate experience, and is strategically focused on Marriott and Hilton franchised select-service opportunities in carefully underwritten secondary markets across the United States. In the little more than two years since its inception, McNeill has built a portfolio of 13 award-winning assets and has two more under construction – an impressive growth trajectory that it is well positioned to maintain by leveraging its extensive development, acquisition, and property management capabilities. With a combination of in-place cash flow underpinned by the success of the existing assets, a focused runway to growth, and an institutional caliber leadership team with an established track record, the platform is ideally suited to a range of institutional capital sources looking to capitalize on the steadfast performance of the select-service segment.

About McNeill Hotel Company

Headquartered in Germantown, Tennessee, McNeill Hotel Company focuses on select service hotels with a growth strategy based on a mix of new hotel development, meaningful acquisitions and third party management agreements. The company is an approved franchisee for both Marriott and Hilton. Phillip McNeill, Jr and Mark Ricketts, the company's principals, are 2nd generation hoteliers with over 60 years of combined institutional experience in the hotel industry, encompassing nearly every discipline of the business.

About RobertDouglas

RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles and San Francisco that specializes in the sale, financing and equity capitalization of hotel, resort and gaming properties throughout North America. Founded by two of the hotel industry's pre-eminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact info@robert-douglas.com or go to www.robert-douglas.com.

Coming Up In The September Online Hotel Business Review




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Feature Focus
Hotel Group Meetings: Blue Skies Ahead
After a decade of sacrifice and struggle, it seems that hotels and meeting planners have every reason to be optimistic about the group meeting business going forward. By every industry benchmark and measure, 2017 is shaping up to be a record year, which means more meetings in more locations for more attendees. And though no one in the industry is complaining about this rosy outlook, the strong demand is increasing competition among meeting planners across the board – for the most desirable locations, for the best hotels, for the most creative experiences, for the most talented chefs, and for the best technology available. Because of this robust demand, hotels are in the driver’s seat and they are flexing their collective muscles. Even though over 100,000 new rooms were added last year, hotel rates are expected to rise by a minimum of 4.0%, and they are also charging fees on amenities that were often gratis in the past. In addition, hotels are offering shorter lead times on booking commitments, forcing planners to sign contracts earlier than in past years. Planners are having to work more quickly and to commit farther in advance to secure key properties. Planners are also having to meet increased attendee expectations. They no longer are content with a trade show and a few dinners; they want an experience. Planners need to find ways to create a meaningful experience to ensure that attendees walk away with an impactful memory. This kind of experiential learning can generate a deeper emotional connection, which can ultimately result in increased brand recognition, client retention, and incremental sales. The September Hotel Business Review will examine issues relevant to group business and will report on what some hotels are doing to promote this sector of their operations.