RobertDouglas advised McNeill Hotel Company in their selection of Almanac Realty Investors as a strategic capital partner. Under this partnership, an investment fund of Almanac will invest up to $150 million of capital to allow McNeill to double the size of its portfolio through the acquisition, development, and management of branded select-service hotels in secondary and select tertiary markets across the United States.
While a number of private equity funds, institutional investors, and high-net worth groups expressed interest in the programmatic equity investment opportunity, Almanac was ultimately selected as the best partner to accelerate McNeill’s strategic investments in quality select-service hotel properties.
McNeill’s two lead executives are second-generation industry veterans with a combined 60 years of experience and an established track record of value creation in the select-service hotel sector, including the development and subsequent $2.2 billion sale of the Equity Inns platform to Goldman Sachs in 2007.
In little more than three years since its inception, McNeill has built a portfolio of 18 award-winning assets, with another under construction. The company exclusively invests in carefully underwritten secondary markets with strong, recognizable demand drivers, and operates hotels franchised under leading Marriott and Hilton brands.
McNeill Hotel Company