To capitalize on the development opportunities in the Southeast, Meyer Jabara Hotels recently opened a new office in Murfreesboro, TN, located in the Studio at Fountains building. Led by Richard Sprecher, VP, development, the management and ownership group is expecting to get a lot of deals done in this thriving market. Within the first few weeks of opening, four deals have been added to the pipeline and more are expected to close in the coming months.
“People here like doing business with those they know and those who are accessible,” Sprecher said. “We are finding that hotel owners in this market especially are looking for a fresh approach to management from a hands-on, experienced operator. Most are optimistic about the future, and many are looking to open new hotels in the next 18-36 months. Because people are eagerly traveling and Southern hospitality is still a big draw, the leisure market in Nashville and the Southeast is doing exceptionally well. Not only are we looking to grow our third-party management business, but we are seeking joint venture opportunities throughout the region.”
Meyer Jabara Hotels currently operates 29 hotels in 11 states, of which 18 properties are fully or partially owned. The portfolio of hotels includes Marriott, Hilton, Choice, Hyatt, InterContinental and Wyndham brands, as well as several independents.