MXR Hospitality has appointed Brent McDowell as its inaugural CEO and Eric Watts as its inaugural president.
MXR is a strategic partnership of RREAF Holdings, a privately held, vertically integrated real estate investment and development firm, and hospitality investor Phillip McNeill Sr.
McDowell, currently COO for McNeill Hotel Company, will supervise all operating units of MXR Hospitality, including hotel development, third-party property management assignments and brand relationships, hotel sales and acquisitions, human resources, administrative functions and new business development. He will work closely with Watts in guiding the firm’s strategic direction.
He joined McNeill Hotel Company upon its formation and helped lead its growth, which included the development, design and construction of seven new-build hotel projects and the acquisition of an additional 14 hotels as of the end of 2022. As EVP, business development and COO for McNeill Hotel Company, and with nearly 30 years in the hospitality industry, he has overseen the growth of the platform’s investment vehicles and supported the company’s focus on guest service, team engagement and owner relations.
Prior to joining McNeill, McDowell served as VP of Pillar Hotels & Resorts Construction, where he oversaw strategic capital planning and execution of capital expenditures for a portfolio of more than 300 hotels across 10 brands. He also served as asset manager in the realty management division for Goldman Sachs, providing oversight for nearly 100 properties across multiple major brands.
“Brent is an outstanding person and leader who commands respect from clients, industry partners and teams, and is able to drive productive consensus at all levels of hospitality,” Phillip McNeill and Kip Sowden, chairman/CEO, RREAF Holdings, said in a statement. “Moreover, in addition to his outstanding hotel development experience, he has excellent accomplishments across all areas of hospitality, including asset management and new business development.”
McDowell added, “I feel extremely privileged to assume this new role at a time that is both challenging and exciting for our industry, where we plan to drive business opportunities in what we see as a still-underserved asset class,” said McDowell. “We also are deeply committed to the McNeill and RREAF Holdings traditions of outstanding guest service, being true partners to our host communities, and providing meaningful engagement and career paths for our team.”
Watts, who also serves as president, extended-stay, RREAF Holdings, will focus on refining and growing MXR’s ground-up extended-stay platform. His responsibilities include supervising site selection and evaluation, negotiation, entitlements and construction activities for new-build projects. He will also work with McDowell in identifying new business opportunities, including third-party property management assignments.
He has 10 years of experience in development, spanning retail, multifamily, and hospitality construction. He joined RREAF Holdings in 2016 as director, capital expenditures over its multifamily platform, later transitioning to project managing several ground-up projects across the Southeast. In 2022, he became director, construction, extended-stay hospitality and was subsequently named president, extended-stay.
Prior to joining RREAF Holdings, Watts served as project manager for Innovation Renovation of Memphis, TN, where he facilitated the rehabilitation of more than 1,500 units for Mid-America Apartments LLC and Fogelman Properties Group in the Mid-South/Memphis area.
“Eric has been instrumental in guiding the growth of our new MXR property management and development platforms, which includes identifying premier sites, areas for improved efficiencies in construction, property maintenance and operations that can drive both guest satisfaction and investment potential,” said McNeill and Sowden. “He is also an astute leader who combines his practical expertise with outstanding interpersonal skills.”
Watts added, “I am thrilled to be part of this new partnership with the highly respected McNeill team. With the extended-stay sector experiencing exponential growth over the past three years, MXR Hospitality aims to leverage decades of combined hospitality and ownership expertise to enhance both existing extended-stay assets and those currently under development.”
