Michael Palmeri Named SVP, Head of Development For Loews Hotels
Monday March 31st, 2014 - 9:53AM 0
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NEW YORK—Loews Hotels & Resorts has promoted Michael Palmeri to Senior Vice President, Acquisitions and Development, and he will assume responsibility for leading the company’s property acquisitions, real estate development and capital raising.
Palmeri, who joined Loews Hotels & Resorts in 2011, has played an instrumental role in growing the company and expanding the Loews brand, according to the company. Loews recently acquired hotels in Los Angeles, Washington, D.C. and Boston and is opening hotel four in Orlando, Universal’s Cabana Bay Beach Resort, a joint venture with NBC Universal. Additionally the company is developing a hotel in Chicago, which is scheduled to open in early 2015.
Palmeri, who will also play a key role in managing new capital partners and raising equity for deals, joined Loews with extensive lodging investment experience having worked in acquisitions and asset management for hotel operating investment platforms, including Chicago-based Abacus Lodging Investors, and San Francisco-based Chartres Lodging Group.
Tags: Palmeri • development • acquisitions • Hospitality • Personnel •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.