Douglas Hercher, Managing Director at RobertDouglas, noted, “Haberhill’s extensive experience with large, branded hotels and complex renovation projects, along with their detailed strategy for re-positioning and re-branding the Renaissance, were critical to attracting capital to the project.”
St. Louis has enjoyed a recent surge in the performance of its lodging market, with market-wide RevPAR showing double-digit growth in 2014, driven by a balanced mix of business, convention, group and tourism demand. Haberhill’s founder, Doug Greene, commented that “I am excited with this purchase and look forward to re-establishing the Marriott St. Louis as the City’s leading downtown hotel,” adding “the City has been a helpful partner to us through what was a complicated acquisition process and we are confident we can contribute to the continued growth of the City’s downtown core.”
RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles and San Francisco that specializes in the sale, financing and equity capitalization of hotel, resort and gaming properties throughout North America. Founded by two of the hotel industry’s pre-eminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact firstname.lastname@example.org or go to www.robert-douglas.com.