HEI Hotels & Resorts has announced the hiring of Thomas Papelian as Chief Investment Officer in the company’s latest addition to their growing team. Papelian joins HEI after a long and successful tenure at Marriott International, where he notably grew their managed and franchised footprint of full-service hotels in the United States.
As SVP within Marriott International’s full-service hotel development team, Papelian led strategic growth and development initiatives for the full-service, luxury and boutique hotel brands of the behemoth of hospitality industry throughout the Eastern United States. A top producer during his 16 years with the company, he has demonstrated extensive expertise, structured numerous noteworthy transactions, and negotiated long-term deals with some of Marriott’s top owners and development partners. .
As HEI is in the process of completing ten joint venture acquisitions in partnership with several leading institutional investors, the addition of a seasoned veteran like Papelian to its investment team will significantly improve HEI’s deal activity. Papelian is highly respected in the accommodation industry and his 30 years of experience in hospitality and real estate, as well as his professional network, will serve HEI well.
In the past six months alone, HEI has completed the acquisition of nine properties in its portfolio, including the Madison Hotel in Washington, DC, the Ivy a Luxury Collection Hotel in Minneapolis, MN, Westchester Marriott in Tarrytown, NY , and the Doubletree Austin, Texas.