DANBURY, CT—Meyer Jabara Hotels (MJH) has appointed Richard Sprecher to the position of VP of development.
The 40-year hospitality veteran will focus on growing the company’s third-party hotel management contracts, as well as structuring joint venture agreements, obtaining hotel receivership assignments and identifying hotels the company should acquire. Operating from MJH’s new development office in Rolling Meadows, IL, Sprecher will also spearhead a new distressed asset division—Hospitality Strategic Services LLC—designed to assist banks and special servicers in dealing effectively with hotel assets in their portfolios.
“Amidst today’s economy, owners, banks and special servicers need an experienced and engaged management company that understands the operational and legal intricacies that come along with the receivership process,” Sprecher said. “Meyer Jabara Hotels is expert at ensuring that assets and cash flow are protected. The company has weathered every economic storm, and it will continue to navigate the challenges ahead and steer its hotels to recovery. This is just one of many reasons why I joined the Meyer Jabara Hotels team—plus, many hotel franchise executives told me that they are one of the best management groups in the business and they are nice people, too. I look forward to working with a company comprised of engaged and responsive hoteliers who come to work every day willing to do whatever it takes to support their hotels and each other. I am confident that with MJ leading the way, the future will be bright for those they serve.”
Sprecher is a senior hotel executive and dealmaker in all areas of hospitality. He comes to Meyer Jabara Hotels from Aimbridge Hospitality, where he served as VP of business development for 11 years. Prior to that, he served as director of franchise sales for Choice Hotels International where he sold more than 200 hotel franchises. Prior to joining Choice, Sprecher held senior positions with Amerihost Properties, Bradbury Suites and Renaissance Hotels & Resorts. In those positions, he directed and was involved in the opening of new properties from 115 to 320 keys, in the full-service, luxury, and limited-service hotel sectors.
“Rich is in sync with every aspect of the hotel business, and the experience, integrity and knowledge he brings to the table is extraordinary,” said Justin Jabara, president, MJH. “He’s a hardworking guy who gets things done right, and he’s spent a lot of time developing markets that we haven’t been in for a while. More importantly, Rich has made a positive impact on every person he’s worked with throughout his career, and we are delighted to have him on board to expand our third-party management portfolio and grow into additional receivership assignments.”