Thayer Lodging Group, an Annapolis, Maryland-based hotel investment and management company, has hired William Reynolds, who will join as a managing director in charge of the firm’s acquisition and development efforts.
Reynolds is a 20-year industry veteran who has been involved in $3.5 billion (€2.7 billion) in hotel transactions over the course of his career. He previously served as a managing director at Hospitality Capital Partners/USAA Real Estate, chief investment officer at REIT MeriStar Hospitality, and has held senior positions at Interstate Hotels & Resorts and CapStar Hotel Company.
Since its inception in 1991, Thayer has raised four private equity real estate funds and six single investment vehicles with total capital commitments of $2.5 billion. The firm is currently investing its fourth private equity real estate fund, which is focused primarily on upper upscale hotels in major metro markets. It has made nine investments to date.
Thayer has developed or acquired close to three dozen hotels and resorts, including the Grande Lakes Resort in Orlando, Florida, which it bills as the biggest and most expensive non-gaming resort ever built in the United States.
The firm was founded in 1991 by two former Marriott executives, Lee Pillsbury and Fred Malek. Before founding Thayer, Malek worked in politics, first as a special assistant for President Richard Nixon and later as campaign manager for President George HW Bush.