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Midas Hospitality

Midas Hospitality Creates New Sister Company Midas Capital

in Companies/News

Midas Hospitality, a premier hotel management group, recently created a sister company called Midas Capital.

The company’s new office, which is located at 63 Wall St. in New York, will be led by Director of Investments Josh Burrell.  Director of Investments Eric Goettelmann will head the St. Louis office, which is located at 1804 Borman Circle in St. Louis and is the headquarters of Midas Hospitality.

Midas Capital will offer investors a new fund vehicle in order to raise money for future hotel acquisitions and developments.  Instead of investing in only one hotel, this new opportunity gives Midas investors greater diversification as the fund targets approximately 10 to 15 hotel projects.  Midas Capital plans to raise up to $100 million by the middle of 2019 with the assistance of approximately 250 investors.  Midas Capital estimates its new fund will allow Midas Hospitality to employ an additional 350 employees across the Midwest and Southeastern states.

Burrell’s responsibilities include strategy development, acquisition due diligence, investor relations, and sector research.  He possesses more than 10 years of investment advisory, capital markets, and acquisition work.  Burrell is a member of the New York Society of Security Analysts and a member of the CFA Institute.  Prior to joining Midas Capital, he served as the Vice President in the Capital Advisory Group for Lazard Asset Management, a global investment banking firm based in New York City.  Burrell previously worked as a senior analyst in both New York and London at Moody’s Investor Services.  He currently serves as a board member on the Gateway Disabled Ski Program and holds FINRA Series 7 and 63 licenses.  He earned his Bachelor of Science in Business Administration (B.S.B.A.) degree with a concentration in finance in the Applied Financial Analysis program from the John Cook School of Business at Saint Louis University.

Goettelmann’s responsibilities include managing equity raises, as well as leading projects and corporate financing initiatives such as modeling and underwriting for new developments and acquisitions, deal structuring, debt procurement, debt management, financial reporting, forecasting, performance analysis, and ensuring Midas Capital and its funds are operating within compliance of the SEC and other regulatory bodies.  He has over 10 years of finance, accounting, business development and acquisition, and consulting experience, which includes serving as Controller for Midas Hospitality.  Prior to joining Midas Hospitality, Goettelmann worked in the assurance services department at a local public accounting firm while co-founding and establishing multiple businesses.  He is a member of Audubon Associates, co-founder of Milk and Honey in Wildwood, Mo., and serves on the board of the Midas Hospitality Family Foundation.  He is currently earning his Master of Business Administration (MBA) degree from the Olin Business School at Washington University in St. Louis and has his Bachelor of Science in Business Administration (B.S.B.A.) degree with a concentration in Accounting from the John Cook School of Business at Saint Louis University.

“Midas Capital offers a new approach to our investors where they can now be involved with multiple hotels and opportunities at one time,” said co-founder and managing member J.T. Norville.  “We are looking at developing a wider diversification of business ventures where we can make the best use of our long-term experience, strong network, and vertically-integrated brand.”

For more information about Midas Capital, call Josh Burrell at (347) 352-4170, Eric Goettelmann at (636) 293-6411, or visit www.midashotelfund.com.

Founded in 2006, Midas Hospitality has developed, opened and currently manages numerous properties including 40 hotels in 14 states.  The company serves global brands including Hilton, IHG, Marriott, and Starwood.  Midas Hospitality’s headquarters are located at 1804 Borman Circle Dr. in Maryland Heights, Mo.  For more information, call (314) 692-0100 or visithttp://www.midashospitality.com.

Legacy Suites Opens New Hotel In South Carolina Rock Hill’s Extended Stay Hotel Is Only Second One Built In The Country

in Companies/News

Legacy Suites recently opened at 1835 Canterbury Glen Lane in Rock Hill, S.C.  The $11 million 64,000-square-foot hotel is four stories and includes 115 all-suite rooms with fully-equipped kitchens.  This is the second Legacy Suites hotel in the country.  The first one is located in Donaldsonville, La.  A third Legacy Suites, which will have 107 all-suite rooms and cost $11.5 million, will open in the summer of 2018 at 1011 Woodruff Rd. in Greenville, S.C.

General Manager Michael Williams said Rock Hill was selected for Legacy Suites’ second hotel location because “our company wants to support and be a part of the area’s continuous business growth.”

Legacy Suites, which offers modern and spacious studio suites, features an all-inclusive extended stay experience complete with kitchen and full size appliances.  Additional amenities include a gathering room, fitness center, laundry facilities, and a backyard seating area with barbecue grills and a picnic area.

“Legacy Suites are an excellent option for extended stay travelers who are looking for comfort and a wide array of amenities,” said Williams.  “We look forward to joining this community with our newest property, which is perfectly situated in order to accommodate the growing area.”

Midas Hospitality, a premier hotel management group, is managing the hotel.  Sister company MC Hotel Construction, a general contractor specializing in new hotel construction and renovations, built the hotel.

Founded in 2006, Midas Hospitality has developed, opened and currently manages numerous properties including 40 hotels in 14 states.  The company serves global brands including Hilton, IHG, Marriott, and Starwood.  Midas Hospitality’s headquarters are located at 1804 Borman Circle Dr. in Maryland Heights, Mo.  For more information, call (314) 692-0100 or visit http://www.midashospitality.com.

MC Hotel Construction, which is also located at 1804 Borman Circle Dr., specializes in hotel construction and renovations with projects currently underway in six states.  MC Hotel Construction builds for leading brands such as Hilton, Marriott, IHG, Starwood and

Midas Hospitality Purchases Its First Hotel in Texas

in Companies/News

A St. Louis company is adding a Texas hotel to its expanding portfolio that includes 41 hotels in 14 states.

Midas Hospitality, a premier hotel management group, recently purchased a Staybridge Suites in Houston from Pride Management Inc. of Beaumont, Texas.  The $21.6 million property opened in January of 2017 and is the first hotel the company has acquired in Texas.

Located at 9000 Main St. directly across from NRG Stadium, the 120-room hotel is also conveniently located near the Houston Medical Center.  The property features a variety of amenities including a business center, meeting room, fitness center, outdoor pool, evening reception, and barbeque grills.

“This opportunity fit perfectly with our company’s vision and capabilities,” said Midas Hospitality CEO David Robert.  “Houston is a continuously evolving city, and we have researched this market for many years.  The acquisition happened at the right time and place for us, and we could not be more excited to be a part of this growing community.”

Founded in 2006, Midas Hospitality has developed, opened and currently manages numerous properties including 41 hotels in 14 states.  The company serves global brands including Hilton, IHG, Marriott, and Starwood.  Midas Hospitality’s headquarters are located at 1804 Borman Circle Dr. in Maryland Heights, Mo.  For more information, call (314) 692-0100 or visit http://www.midashospitality.com.

Midas Hospitality to Bring First Element by Westin to St. Louis

in Homepage Primary/News

A new eco-conscious hotel, which will be built at the home of a long-time area non-profit organization, is coming to St. Louis by 2019.

Owner Midas Forest Park, LLC, a subsidiary of Midas Hospitality, recently bought the current home of Habitat for Humanity Saint Louis (HFHSL) located at 3763 Forest Park Ave.  The 1.5 acre property was purchased for $2.4 million to make way for the $25 million Element by Westin.  Midas Hospitality will lease the non-profit organization space for up to one year while it relocates.

The hotel concept encourages renewal through a nature-influenced environment and is constructed with an efficient use of space and sustainability in mind.  The eight-story, 119,000-square-foot hotel will include 153 extended stay rooms and feature 10,000-square-foot retail space plus a rooftop lounge.

The environmentally-responsible rooms will have oversized windows to allow natural light plus fully-equipped kitchens with spa-inspired bathrooms.  The hotel will have an extensive fitness center, an all-natural saline pool, and a borrow-a-bike program for its guests.  Element will be located directly across from the St. Louis Foundry redevelopment.  It will back up to St. Louis University and be only three blocks from the Cortex Innovation District and one block from Ikea.

Midas Hospitality will manage the hotel.  The builder is MC Hotel Construction, a general contractor specializing in new hotel construction and renovations, which is the sister company of Midas Hospitality.  The architecture firm is Gray Design.  All three companies are based in St. Louis, Mo., and this is the first Element hotel built and managed by these businesses.  Carrolton Bank provided the financing for the acquisition.

“The vibrant midtown area is the perfect place for an environmentally-friendly Element by Westin,” said Midas Hospitality CEO David Robert.  “We are excited to work with this growing community by providing extended stay lodging to the university campuses, innovation district, and medical community.”

“We are delighted with the sale and what it will mean to our much needed work in the community.  As good stewards of our organization’s assets, we were pleased to be able to take advantage of the strong commercial real estate market in the area,” said Habitat for Humanity Saint Louis CEO Kimberly McKinney.  “For up to a year, we will be continuing our important work of building safe and affordable housing for hard working families from our current Forest Park Avenue location.  We look forward to sharing more information in the future on our operations for our city Habitat ReStore, our construction warehouse and our administrative offices in a conveniently relocated space.”

Habitat for Humanity Saint Louis (HFHSL) is a not-for-profit, ecumenical housing ministry working in partnership with individuals and communities of all faiths to improve housing conditions and provide safe, decent and affordable housing in St. Louis City and County.  In addition to a down payment and a mortgage, each HFHSL homebuyer invests 350 sweat-equity volunteer hours into building or rehabbing a home and attending life skills classes.  For more information, visit http://www.habitatstl.org.

Founded in 2006, Midas Hospitality has developed, opened and currently manages numerous properties including 30 hotels in 14 states.  The company serves global brands including Hilton, IHG, Marriott, and Starwood.  Midas Hospitality’s headquarters are located at 1804 Borman Circle Dr. in Maryland Heights, Mo.  For more information, call (314) 692-0100 or visit http://www.midashospitality.com.

MC Hotel Construction, which is also located at 1804 Borman Circle Dr., specializes in hotel construction and renovations with projects currently underway in six states.  MC Hotel Construction builds for leading brands such as Hilton, Marriott, IHG, Starwood and Legacy Suites.  For details, call (314) 339-6600 or visit http://www.mchotelconstruction.com.

Midas Hospitality Names Jim Brueggemann as New CFO

in People

Brueggemann previously served as company’s Vice President of Finance

Midas Hospitality, a premier hotel management group, recently appointed Jim Brueggemann, CPA, as the company’s new Chief Financial Officer.

Brueggemann will manage the company’s central accounting office in order to deliver accurate and timely financial analysis.  He will be accountable for the development of economic strategies and preparation of corporate growth plans.   Brueggemann also will oversee both financial forecasting efforts and risk management operations.

Prior to his new position, Brueggemann was the company’s Vice President of Finance.  He joined Midas Hospitality in May, 2013 with more than 18 years of accounting and finance experience.  The majority of his career has been in real estate construction and development, as well as property management.  Brueggemann graduated from the University of Missouri-Columbia with a BSBA in Accounting.

“Jim is an excellent choice for Chief Financial Officer, and we are pleased to promote him to this very integral position within our organization,” said David Robert, Midas Hospitality’s Managing Member and CEO.  “We look forward to achieving even greater success in the upcoming years thanks to his experience and industry knowledge.”

Founded in 2006, Midas Hospitality has developed, opened and currently manages numerous properties including 30 hotels in 11 states.

Staybridge Suites Opens in Maryland Heights, Mo.

in Companies/News

Midas Hospitality to manage new property

A $16 million Staybridge Suites recently opened at 25 Progress Parkway in Maryland Heights, Mo.  The 122-room all-suites hotel will be managed by Midas Hospitality, a premier hotel management group.  The hotel was built by Midas Hospitality’s sister company MC Hotel Construction, a general contractor specializing in new hotel construction and renovations.

Staybridge Suites offers both one and two bedroom suites for its guests.  The hotel provides fully equipped kitchens, state-of-the-art fitness center, an indoor swimming pool and plenty of amenities including free laundry facilities and complimentary breakfast.

“With the full kitchens and all-suites layout, the Staybridge Suites-Maryland Heights is perfect for the extended stay and transient guest visiting the Maryland Heights/Westport Plaza area,” said Kurt Furlong, Midas Hospitality’s Principal and Executive Vice President of Sales and Marketing.  “The hotel is the epitome of convenience with easy access to Interstates 70 and 270.  The hotel’s location sits proximate to the many nearby corporations including the expansive Edward Jones’ North Campus.”

Founded in 2006, Midas Hospitality has developed, opened and currently manages numerous properties including 27 hotels in 11 states.  The company serves global brands including Hilton, IHG, Marriott, and Starwood.  Midas Hospitality’s headquarters are located at 1804 Borman Circle Dr. in Maryland Heights, Mo.  For more information, call (314) 692-0100 or visit http://www.midashospitality.com.

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