CapStar Advisors has completed two transactions. The firm recently acted as a representative of Springboard Hospitality in its merger with Hotel Equities and completed a strategic growth plan for Brightwild, a branded vacation rental company based in Key West, Fla.
The Merger
Springfield Hospitality—a hotel management firm specializing in independent hotels—merged its 50-hotel portfolio with Hotel Equities, a hospitality operator and developer previously managing a portfolio of approximately 200 hotels, resorts and outdoor hospitality destinations throughout the U.S., Canada, the Caribbean and Latin America. The transaction provides Hotel Equities entry into the Hawaii market and takes advantage of the technology platform created by Springboard’s CEO, Ben Rafter. Rafter will continue as CEO of the newly expanded Hotel Equities.
“CapStar worked diligently with us to understand the Springboard culture and help find the appropriate fit,” Rafter said in a statement. "[Principals] Paul Whetsell and Dave McCaslin worked hand-in-hand with our team to craft a deal that worked for all parties involved.”
Growth Strategy
Meanwhile, Brightwild retained CapStar to assist with a growth strategy for the company to maximize its operational capabilities to meet its growth targets. CapStar worked with the company to identify new growth markets and segments.
“CapStar’s operational expertise speaks for itself, from the founding of the original CapStar in 1986 through its growth into Interstate Hotels & Resorts, invaluable knowledge they put to use helping us shape our own growth plans moving forward,” said Mike Phillips, CEO of Loci Capital.
CapStar Advisors Partner David McCaslin touted the company’s ability to get deals done. “Over the past five to 10 years, there has been more focus on M&A as it has become increasingly important for hospitality platforms to achieve scale," he said. "CapStar represents firms looking to sell, merge or recapitalize, often times where the principals are approaching retirement or decide to focus on other career opportunities. We work with owners and operators to find solutions that allow all parties to reach their true potential. We actively market and finalize the sale of small-to-medium size companies, sourcing and negotiating merger and acquisition opportunities, introducing capital partners, reviewing multi-property and individual asset sales and purchases, deep value-add renovations and corporate restructurings.”
With offices in Washington, D.C. and the U.K., CapStar is a hotel advisory firm focused on assisting investors, owners and operators.