Terra Resort Group, MetWest Ventures form management company

JACKSON HOLE, WYOMING Hotel management firm Terra Resort Group and investment house MetWest Ventures have formed a new company, MetWest Terra Hospitality. The company will manage a collection of properties in Wyoming, California, Vermont and Florida, and is actively pursuing new hotels to add to the group. MetWest Terra Hospitality will be based in Jackson Hole.

MetWest Terra Hospitality will expand its collection of hotels nationwide through the procurement of third-party management agreements; partnership ventures with hotel owners, lenders, and capital investors; and acquisitions through affiliates of MetWest. The company will focus on aligning with financial institutions that own or are lenders to hotel properties.

“Terra Resort Group has a strong track record of managing and turning around hotels and now, with the resources from MetWest, we have the financial expertise and access to investment capital needed to improve the results of lenders and equity holders,” says Jamie Yarrow, president and chief operating officer of the new company.

Terra Resort Group, formed in 2006, operates its flagship Hotel Terra Jackson Hole and the adjacent Teton Mountain Lodge & Spa and the Inn at Jackson Hole. Earlier this year, an affiliate of MetWest Ventures purchased Casa Madrona Hotel & Spa in Sausalito, California, and retained Terra Resort Group to manage the hotel and lead an extensive renovation.

MetWest Ventures was founded by Richard Hollander in 1992. “When we began to work with the team at Terra Resort Group, we quickly recognized the potential to create significant value together,” says Hollander, who will serve as chairman and CEO of the newly formed company. “Consistent with previous ventures, we saw an opportunity to combine our investment acumen with what we believe to be the foundation of an exceptional hotel management company.”

Yarrow, who spent nearly 20 years with Four Seasons Hotels & Resorts, says that MetWest is the ideal partner to help fulfill the vision held by the Terra Resort Group team. “From the top down, we are longtime luxury hoteliers who are well equipped to bring value to hotels through our service standards and operating expertise,” Yarrow says. “We know how to maximize a hotel’s potential. Together, we now have the unique opportunity to apply our skill set in a much larger capacity, with a capital engine behind us.”

Adds Hollander: “We approach every relationship as an opportunity to create a win-win scenario. We have a long history of creating meaningful, successful alignments for the benefit of all of our stakeholders. This new venture goes to the heart of this approach.”