"In Mexico alone, we have a good half-dozen deals on the verge of being closed," Christopher R.J. Knable, president and managing director of the newly formed JMJ Hospitality, tells GlobeSt.com. The pipeline also holds at least a dozen deals in various negotiating stages for developments in the Caribbean, Europe, the Middle East and US, he says. The ballpark estimate is 40% of the resorts will be ground-up development.
JMJ Hospitality's hardy pipeline is the end result of Knable selling his two-year-old company in New York City to Dallas-based JMJ Holdings, led by Timothy L. Barton. "There is a lot of liquidity in the world and there's certainly been a lot of interest in JMJ," Knable says. "If we close as many deals as we have in the pipeline, it will easily be over $1 billion of enterprise value."
Knable says the development plan will be five-star quality, but isn't married to any geographical region. "It's opportunity targeted," he stresses.
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