DEVELOPING URBAN HOTELS
Merritt Development Group (MDG) based in Austin, Texas is a privately owned merchant hotel development company specializing in the development of urban hotels typically affiliated with Hilton and Marriott throughout the United States.
Jeremy David Merritt, is President and Owner of MDG, has over 30 years of hotel development experience leading their company’s development efforts with such notable firms as Interstate Hotels & Resorts, FFC Hospitality and Marcus Hotels & Resorts. Since graduating from Cornell University’s School of Hotel Administration in 1985 Merritt has been involved in developing, acquiring or securing management contracts on over 100 transactions.
MDG was formed in 2013 and since that time MDG has been responsible for the development of over $1B in various hotel projects around the country:
- $304MM in completed projects
- $70MM in development
- $285MM under contract
MDG secures off market sites, determines the best available brand and most experienced operator, secures desirable retail tenants, and assists ownership in securing the most efficient debt and equity.
On a selected basis MDG will also acquire existing distressed hotel assets that are in need of a repositioning whether the challenges are attributed to brand, operator of physical condition.