Dec 15, 2015
Kian Capital is pleased to announce that it has invested $9.9 million of senior secured debt and equity in Spire Hospitality (“Spire” or the “Company”) to finance the Company’s growth initiatives. Spire Hospitality, based in Deerfield, Illinois, is a leading third-party hospitality operator with more than 5,870 keys under management across 20 hotels operating under well-known brands such as Marriott International, Hilton Hotels & Resorts, Starwood Hotels & Resorts and InterContinental Hotels Group.
Bill DeForrest, President and CEO of Spire, said “Kian’s partnership approach and growth orientation was very appealing to us. They were diligent and thorough in understanding our business, and we are excited that their capital has positioned Spire to take advantage of numerous growth initiatives in 2016 and beyond.”
Kevin McCarthy, Partner at Kian Capital, said “Bill DeForrest and his team are industry veterans with a demonstrated track record of successfully operating complex, full-service hotels. Our investment in Spire is aligned with our strategy of partnering with seasoned management teams capable of driving growth and long-term value.” Marc Sanchez, Vice President at Kian Capital, added “Spire’s full service management and operational capabilities, combined with its customer-first approach, distinguishes Spire in the marketplace and positions the Company for sustained growth.
Kian’s partnership approach and growth orientation was very appealing to us. They were diligent and thorough in understanding our business, and we are excited that their capital has positioned Spire to take advantage of numerous growth initiatives in 2016 and beyond.
President & CEO of Spire
About Spire Hospitality
Spire Hospitality (“Spire”) is a third-party operator of 6,000 room keys and 300,000 square feet of meeting space across 17 states. The Spire portfolio, with a focus on large, full-service hotels, includes unique independent properties and premier branded assets across Hilton Hotels & Resorts (“HLT”), InterContinental Hotels Group (“IHG”) and Marriott International (“MAR”). Spire Hospitality offers expertise in all facets of hospitality management and is committed to preserving, protecting and enhancing the value of hotel real estate.View Website