The problem
Two hotels sharing one box means two franchisors, two operating models, and a capital stack that satisfies both. The conversion was allowed by right, no lengthy entitlement fight, which was a critical advantage. From there it was all execution.
What I did
I co-developed the project end to end, leading the team across architects, the GC, subcontractors, and engineers, and staying hands-on with finance, construction, investors, and the lender. I closed $100M of debt and equity, negotiated both Hyatt franchise agreements, and delivered one of the first dual-brand, select-service and extended-stay hotels of its kind. I managed the loan draws, ran a $1.5M IT build under budget and on time, and structured the insurance program that protected the project more than once. The systems were the job: dry and wet utilities, technology, carbon-fiber wrapping the structural columns. It's also the deal that pushed me to build my next big thing.
The details
| Total cost | $140M |
|---|---|
| Capital closed | $100M debt and equity |
| Keys | 401 |
| Brands | Hyatt House + Hyatt Place |
| Building | 258,000 SF office conversion, by right |
| IT build | $1.5M, under budget and on time |
| My role | Led the team (architects, GC, subs, engineers); loan draws, insurance, IT, building systems |