HEI Hotels & Resorts has announced the hiring of Thomas Papelian as Managing Director of Investments in the firm’s latest addition to their growing team. Papelian joins HEI after a long and successful tenure at Marriott International, where he notably increased their managed and franchised footprint of full-service hotels in the United States.
As an SVP with Marriott International’s full-service hotel development team, Papelian led the strategic growth and development initiatives of the hospitality juggernaut’s full-service, luxury, and boutique hotel brands throughout the East Region of the United States. A high-level producer during his 16-year tenure with the company, he demonstrated extensive expertise, structured numerous noteworthy transactions and negotiated long-term agreements with some of Marriott’s largest owners and development partners.
With HEI in the midst of closing ten joint venture acquisitions in partnership with several industry-leading institutional investors, adding a seasoned veteran like Papelian to its Investments team will significantly enhance HEI’s transaction activity. Papelian is highly respected throughout the lodging industry and his 30 years of experience in hospitality and real estate, and professional network will serve HEI greatly.
“We are thrilled to add Tom’s razor-sharp deal instincts, long standing industry relationships, and transaction prowess to our growing Investments team,” announced HEI’s Managing Partner & CEO, Anthony Rutledge. “Coupling our superb management track record with Tom’s pedigree will further strengthen the impressive roster of talent on our Investments team and bolster continued growth.”
In the last six months alone, HEI has led the acquisition of nine properties into its portfolio, including the Madison Hotel in Washington, DC, the Hotel Ivy a Luxury Collection Hotel in Minneapolis, MN, Westchester Marriott in Tarrytown, NY, and the Doubletree Austin, TX.