Multi-branded hotel management company creates ‘Hospitality Strategic Services LLC’ to assist banks and special servicers in dealing effectively with distressed hotel assets in their portfolios
[Danbury, Conn. and West Palm Beach, Fla., Sept. 1, 2020]—Meyer Jabara Hotels (MJH), a multi-branded hotel management and ownership company, has appointed Richard Sprecher to Vice President of Development. The 40-year hospitality veteran will focus on growing the company’s third-party hotel management contracts, as well as structuring joint venture agreements, obtaining hotel receivership assignments, and identifying hotels the company should acquire. Operating from MJH’s new development office in Rolling Meadows, Ill., Sprecher will also spearhead a new distressed asset division — Hospitality Strategic Services LLC — designed to assist banks and special servicers in dealing effectively with hotel assets in their portfolios.
“Amidst today’s economy, owners, banks, and special servicers need an experienced and engaged management company that understands the operational and legal intricacies that come along with the receivership process,” Sprecher said. “Meyer Jabara Hotels is expert at ensuring that assets and cash flow are protected. The company has weathered every economic storm, and it will continue to navigate the challenges ahead and steer its hotels to recovery. This is just one of many reasons why I joined the Meyer Jabara Hotels team — plus, many hotel franchise executives told me that they are one of the best management groups in the business and they are nice people too. I look forward to working with a company comprised of engaged and responsive hoteliers who come to work every day willing to do whatever it takes to support their hotels and each other. I am confident that with MJ leading the way, the future will be bright for those they serve.”
Sprecher is a senior hotel executive and dealmaker in all areas of hospitality. He comes to Meyer Jabara Hotels from Aimbridge Hospitality where he served as vice president of business development for 11 years. Prior to that, he served as director of franchise sales for Choice Hotels International where he sold more than 200 hotel franchises. Prior to joining Choice, Sprecher held senior positions with Amerihost Properties, Bradbury Suites, and Renaissance Hotels & Resorts. In those positions he directed and was involved in the opening of new properties from 115 to 320 keys, in the full-service, luxury, and limited-service hotel sectors.
“Rich is in synch with every aspect of the hotel business, and the experience, integrity, and knowledge he brings to the table is extraordinary,” said MJH President Justin Jabara. “He’s a hard-working guy who gets things done right, and he’s spent a lot of time developing markets that we haven’t been in for a while. More importantly, Rich has made a positive impact on every person he’s worked with throughout his career, and we are delighted to have him on board to expand our third-party management portfolio and grow into additional receivership assignments.”
Meyer Jabara Hotels owns and operates hotels that size from 80 room boutiques to 508 rooms in a full-service convention hotel setting. The company provides a full range of hotel management services including, but not limited to, asset management, sales and marketing, revenue management, accounting services, human resources and risk management. MJH has distinguished itself as an employer of choice within the hospitality industry. Its management teams have a history of longevity; the current average tenure of its general managers exceeds 11 years. This is accomplished by creating a culture where associates are encouraged to reach their fullest potential.
To reach Richard Sprecher, call (847) 302-1419 or email [email protected]. For more information on Meyer Jabara Hotels, visit www.meyerjabarahotels.com. For media inquiries, call Barb Worcester of PRpro at (440) 930-5770 or email her at [email protected].