NATIONAL REPORT—Avistone has named the leader of its new hospitality division, while AAHOA has added an industry veteran to its executive team.
Muller Named Managing Director of Newly Formed Avistone Hospitality Division
Avistone, a commercial real estate investment firm specializing in the acquisition and operation of multi-tenant, industrial properties nationwide, has named Charlie Muller managing director of its newly formed hotel division, Avistone Hospitality.
“With the travel industry facing continued headwinds, a number of owners are opting to divest their properties and portfolios versus riding out the troubled forecast,” said Richard Kent, president, Avistone. “This creates opportunity for investment firms such as our own. While we historically have focused more on industrial properties and business parks, our core expertise remains real estate investment, including identifying opportunity, capitalizing investments, repositioning properties, improving cash flow and enhancing value at disposition. With Charlie helming this operation, we feel strongly that we are entering the market at the right time with the right person to help us achieve our aggressive growth objectives.”
Muller brings with him nearly four decades of hospitality expertise in operations, acquisitions, development, asset management and dispositions. He has completed more than $7.5 billion in transactions, including acquiring 75-plus hotels, developing/redeveloping 19 hotels and has overseen asset management practices for over 200 hotels and recreational properties.
Prior to joining Avistone, Muller held such positions as SVP of investments with First Hospitality, VP of development at Omni Hotels & Resorts and EVP/COO for CNL Hotels & Resorts and CNL Lifestyle Properties.
“Working with a well-established real estate investment management firm like Avistone as they expand into the hospitality industry provides me with an opportunity to utilize my full skillset, which inspires me professionally,” he said. “Creating and utilizing private equity funds, we will seek investments in limited-service, extended-stay, full-service and resort hotels throughout the U.S. We are targeting property acquisitions and/or note purchases, as well as limited new development opportunities where they make sense. Avistone Hospitality will focus on hotels at below-market-replacement cost that will benefit from capital infusion, renovation, rebranding, repositioning and/or improved management and marketing capabilities.
“Avistone Hospitality will make immediate use of its existing and extensive list of hotel brokers, auction firms, owners and lenders to target investment opportunities,” he added. “Once acquired, we plan to improve property revenues through effective asset management practices and alignment with proven operators as we move to stabilize RevPAR, increase cash flow and eventually sell opportunistically as conditions warrant.”
Stuckey Joins AAHOA as VP of Business Development
AAHOA has added Robert Stuckey as its new VP of business development. Stuckey will lead the department and join AAHOA’s executive leadership team.
“We are excited to welcome Robert to AAHOA,” said Cecil P. Staton, president/CEO, AAHOA. “He brings substantial experience to his position and a sound strategic vision for the association’s important business development work. He has an exceptional understanding of our members and the hospitality industry, and I look forward to working with Robert in this new role.”
Stuckey joins AAHOA from Davidson Hotels, where he served as director, transitions and brand compliance. Previously he worked for ShawContract and IHG. Stuckey brings his unique perspective of hotel operations, brand leadership and vendor relations to AAHOA. He is familiar with the association, having worked with AAHOA members in his previous positions, guided ShawContract’s industry partnership with AAHOA, and frequently attended AAHOA’s conventions and trade shows.
“I could not be more excited about joining AAHOA at this incredibly important time in our industry’s history,” said Stuckey. “AAHOA, its members and industry partners have always been an important part of my hospitality career including working and consulting directly with members. Feedback, partnership, growth and innovation will be my mantra as we look to grow our value and connection with AAHOA members and industry partners, carrying out AAHOA’s 2021-2023 Strategic Plan, and continuing down the road to recovery for the entire AAHOA community.”