"We've grown rapidly in the past 12 months, acquiring more than $350 million in hotel assets," says Gary Mendell, managing partner of HEI Hospitality. "In July, we completed the purchase of a portfolio of hotels from Starwood in a partnership, and we have continued to seek first-class, full-service hotels, both individual properties and portfolios."He adds, "Now, as evidence of a recovery in the economy and the lodging industry continues to mount, we plan to continue our acquisition efforts. The addition of Roger Clark to our management team will allow us to do that."

The HEI-Olympus-Rockwood partnership purchased 12 hotels from Starwood Hotels & Resorts Worldwide, in a deal that involved 3,678 rooms at six Sheratons, two Westins, one Marriott, two Hiltons and one independently flagged hotel, for approximately $300 million. In June, HEI and Prudential Real Estate Investors purchased the Hilton Novi (since renamed Sheraton Detroit Novi) in Novi, MI, from Starwood for an undisclosed amount.

Clark, who worked at New Castle Hotels for the past 13 years and has been in the hospitality industry for 20 years, says HEI Hospitality has a few deals in the pipeline for hotel properties in the domestic US. Prior to joining New Castle, he served in development positions at Promus Cos.' Homewood Suites Division and at Interstate Hotels Corp.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.