Chartwell Hospitality plans to spend $400 million to $500 million on select-service hotels, taking advantage of bargains made possible by the recession.
The Franklin-based hotel investor and operator announced its plans Tuesday, saying it has raised $200 million for Chartwell Hospitality Fund I, which will be leveraged to create a half billion in investment capital. Company founders Phillip McNeill Sr. and Robert Schaedle — who kicked in a total of $50 million — hope to recreate the acquisition strategy they used in the early 1990s and 2001.
Read More:
0 comments:
Post a Comment