News for the Hospitality Executive
Terra Resort Group and MetWest Ventures Form New
Hospitality Company: MetWest Terra Hospitality
Capital with Experienced Hotel Management Team
September 20, 2010 (Jackson Hole, WY) – Terra Resort Group, the Jackson Hole-based hotel management company and MetWest Ventures, the Los Angeles-based investment firm, have formed a new company, MetWest Terra Hospitality. The new company will manage an exclusive collection of properties in Wyoming, California, Vermont and Florida, and is actively pursuing new hotels to add to the group. MetWest Terra Hospitality will be based in Jackson Hole.
MetWest Terra Hospitality will expand its collection of hotels nationwide
through the procurement of third-party management agreements; partnership
ventures with hotel owners, lenders, and capital investors; and acquisitions
through affiliates of MetWest. In addition, the company will focus on aligning
with financial institutions that own or are lenders to hotel properties.
Terra Resort Group was formed in 2006. The flagship Hotel Terra Jackson Hole opened in February 2008 as a Silver LEED certified, AAA Four Diamond hotel, slopeside to Jackson Hole Mountain Resort. Shortly thereafter, Terra assumed management of the adjacent Four Diamond Teton Mountain Lodge & Spa and the Inn at Jackson Hole. Earlier this year an affiliate of MetWest Ventures purchased the Casa Madrona Hotel & Spa, a well-known boutique hotel in Sausalito, CA. MetWest retained Terra Resort Group to manage the hotel and lead an extensive renovation of the historic property.
MetWest Ventures was founded by Richard Hollander in 1992. Under
Mr. Hollander’s leadership, MetWest has nurtured the development of several
financial and investments advisory companies. Considering the recent dislocations
in commercial real estate and specifically within hospitality, Mr. Hollander
has once again turned his focus to real estate. “When we began to
work with the team at Terra Resort Group we quickly recognized the potential
to create significant value together. Consistent with previous ventures,
we saw an opportunity to combine our investment acumen with what we believe
to be the foundation of an exceptional hotel management company,” says
Richard Hollander, who now serves as Chairman and CEO of MetWest Terra
About MetWest Ventures: Richard Hollander formed MetWest Ventures in 1992 and since that time has created related investment strategies that have managed more than $80 billion in assets, including assets from several of the top 100 U.S. public pension funds. Through MetWest Realty Advisors, the company is an active investor in the commercial real estate space. metwestventures.com
|Also See:||SIMA Management Corp. Selects Terra Resort Group to Run the Casa Madrona Hotel & Spa in Sausalito, California; Affiliate of SIMA Acquired the 63-room Hotel as Part of Foreclosure Sale for $11.4 million / April 2010|
|Terra Resort Group Assumes Management of Topnotch Resort and Spa, in Stowe, Vermont / June 2010|