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Appointments & Promotions

AJ Capital Partners Names Clay Thelen as Chief Financial Officer

CHICAGO, IL. May 1, 2017 – AJ Capital Partners announced today the hire of a new member to its executive team. Clay Thelen joins the team as Chief Financial Officer, with a specific focus on capital markets.

“Clay is an exciting addition for our Company,” said Eric Hassberger, COO of AJ Capital Partners. “Clay's extensive knowledge and experience in the capital markets and lodging industry make him an ideal fit for the AJ Capital and Graduate Hotels team.”

Prior to joining AJ Capital Partners, Clay was Vice President, Capital Markets, Acquisitions, and Treasurer at Strategic Hotels & Resorts (SHR) where he led the capital markets, financial planning and analysis, and treasury functions. Additionally, in his time at SHR, Clay directly participated in the company’s hotel acquisition and disposition activity as well as its transition from being publicly traded to privately held. Clay began his career as a CPA in the risk advisory and audit practices at Ernst & Young, LLP.

About AJ Capital Partners

Adventurous Journeys Capital Partners, based in Chicago, is an accomplished team of hospitality and real estate investors whose innate passion is to create a one-of-a kind portfolio of timeless assets. The counter-culture investors acquire, design and develop transformative real estate throughout the United States, Mexico, and the Caribbean. In fall 2014, AJ Capital Partners launched the Graduate Hotels brand. AJ Capital Partners continues to grow its portfolio of lodging investments, firmly establishing the group as visionary leaders in the lifestyle-driven investment industry. For more information on AJ Capital Partners, please visit www.ajcpt.com.

Contact:
Meg Connolly
meg@mcc-pr.com
212-505-8200

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.