San Francisco-based hotel and investment advisory firm Chartres Lodging Group has announced the restructuring of its executive team as a result of a growing portfolio and projected growth in 2012. Chartres Lodging is currently responsible for a $2.2 billion, 12,500-room portfolio of luxury and upscale hotels, conference centers and resorts in the United States and Japan.
As part of the restructure, former president and co-founder Rob Kline has been appointed CEO, while managing partner and co-founder Maki Nakamura Bara has been appointed president. Both remain co-chairs of their affiliated property management company, Kokua Hospitality.
Chartres’ acquisition goals include a US$1 billion increase in major markets over the next three years and being more active in the early part of the current cycle to capitalize on the growth of the market.
Chartres most recently opened the first Hyatt Place branded property in the Hawaii market, Hyatt Place Waikiki, in joint partnership with Morgan Stanley Real Estate Funds. The company is also in the process of completing a hotel acquisition in New York City that will require a large physical repositioning.
Kline will oversee Chartres’ corporate finance activities, capital partner relations, new business initiatives and company strategy. Bara will be responsible for company strategy, maintaining a leadership role in development management and lending her strategic vision in Chartres’ renovation activities. She will also oversee business growth and strategy in the Japanese market.
Among other appointments, Kirk Pederson, chief investment officer and COO, is now responsible for all new acquisitions, operations and management. Maxine Taylor, executive vice president and head of asset management now oversees all asset management activities. Anjali Dusija Agarwal, vice president, assumes a leadership role in the asset management as well as a more in-depth role in acquisitions, supervising the underwriting and digging deep into the operations to create value enhancement opportunities.
