WASHINGTON, D.C., March 27, 2012—Modus Hotels, an owner/operator of a collection of independent and branded hotels and a division of Cafritz Interests, a diversified real estate company, today announced they have hired hotel real estate veteran Mark Morris as executive vice-president of acquisitions. With two Washington, D.C. acquisitions, the Washington Suites Downtown hotel last year, and more recently the Chase Suites (middle right photo), Modus seeks to increase its investment activity.
“With the industry outlook remaining strong and financing availability continuing to improve, we believe now is an ideal time to further ramp-up our acquisition program, especially in this early phase of the hotel real estate cycle,” said Aaron Katz, president & CEO of Modus Hotels.
“With nearly 20 years of hospitality investment and real estate experience, Mark brings hands-on experience in virtually every meaningful U.S. hotel market, as well as an incredible database and the knowledge and skillset to creatively get deals done.”
Morris’s career spans a wide range of real estate investment and development activities, predominantly in the hotel industry. Prior to joining Modus, he was executive vice president of Molinaro Koger, a hotel real estate brokerage firm.
While there, he was involved in transactions totaling more than $3 billion, with a focus on business class and extended stay hotels, as well as unique independent hotels.
Contacts:
Chris Daly or Lauralee Dobbins, media
Lauralee@Dalygray.com
703-435-6293
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