From site control to opening
The criteria applied before a site is pursued, the sequence that follows, and what the firm will review.
What qualifies a market
Tested at the market level before any parcel is underwritten.
Compelling long-term growth
Population, employment and output rising over time, carried by more than one industry.
High barriers to entry
Constrained land and multi-year approvals, which hold supply flat well after delivery.
Diverse demand generators
Business, group and leisure demand from different sources and in different seasons.
Efficient construction type
A building and room count the submarket carries at the rate it achieves.
How a project moves
The sequence is constant. The program is set project by project.
Site control and feasibility
A letter of intent, then an option or purchase agreement with an entitlement contingency. Demand segmentation, competitive set and achievable rate are tested before the parcel is taken down.
Entitlement
Zoning, conditional use, design review and environmental clearance, with brand approval negotiated in parallel so standards enter the drawings at schematic design. Both principals present at every public hearing.
Eleven projects presented at public hearing. Eleven approved. Coastal jurisdictions, historic districts and design review boards are where the firm works, and entitlement risk is priced at site control and carried by the firm.
Capital and delivery
Sponsor and joint venture equity alongside a construction facility, a guaranteed maximum price agreed before the loan closes, then construction, operator mobilization and opening.
Structure and guaranty
- Equity
- Sponsor equity alongside joint venture capital, including land contributed as equity.
- Debt
- Construction facilities placed directly with lenders. Hotel Anna closed a $46.3 million facility in September 2025.
- Guaranty
- Completion and recourse obligations are carried by the principals.
- Sponsor diligence
- Marriott, Hilton, Hyatt, IHG Kimpton and Pendry each completed a full review before approving the firm as a development partner.
What the firm reviews
Published so an owner or adviser can test a parcel before making contact.
Sites outside these ranges are still reviewed. Location, parcel size, zoning and entitlement status, and known constraints are enough to start.
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