Dive Brief:
- M2G Ventures launched a dedicated hospitality vertical, the Fort Worth, Texas-based real estate investment and development firm announced Tuesday. Crescent Real Estate exec Chris Hanrattie was named managing director, head of hospitality to lead the effort.
- The vertical will focus on hospitality projects where the company believes it can drive RevPAR growth and improve operational efficiency, according to the announcement.
- M2G Ventures co-founder Jessica Essl told Hotel Dive that while the company will continue to pursue investments in its core markets across Texas, M2G is also targeting “high-growth markets across the Sunbelt as we expand our geographic footprint.”
Dive Insight:
M2G sees “opportunities to acquire well-located full-service and select-service hotels in high-growth or emerging markets,” Essl said in a statement. “M2G’s focus on brand, guest-centered design and a deep understanding of customer preferences will play a pivotal role as we expand our hospitality portfolio.”
Hanrattie joins from Crescent Real Estate, where he most recently served as senior vice president of investments and head of hospitality in Fort Worth. There, he also oversaw the firm’s hospitality vertical, leading hospitality investment strategy, acquisitions and dispositions.
Essl told Hotel Dive that Hanrattie’s expertise “sharpens our focus and strengthens our ability to execute our investment strategy across all verticals,” including industrial, mixed-use, retail and hospitality.
According to M2G, the firm’s new vertical reflects “significant growth and transformation existing within the hospitality and travel industry.”
That growth is evident in the company’s home city of Fort Worth, which The Wall Street Journal called America’s fastest-growing major city in 2023. The greater Dallas-Fort Worth metropolitan area has also seen heightened hotel development and investment in recent years.
Crescent Real Estate opened The Crescent Fort Worth in 2023, the first luxury hotel in the city’s cultural district.