MEMPHIS, TN—Wright Investments has implemented plans to strengthen the company’s operational platform and growth path with some recent moves.
The firm hired industry veteran Dave Makarsky as COO after an extensive search. Also, the company has acquired two new hotels in the last five months that are both planned to be lifestyle hotels and centrally located in Memphis, TN and Lake Placid, NY.
“We are extremely excited to have Dave join our great team,” said CEO Larry Wright, Jr. “His lifelong experience with all facets of hotel and restaurant management will be accretive to our short- and long-term goals at Wright Investments. Dave’s hiring signals a new opportunity in our 36-year history and we expect his contribution to propel our company forward.”
Makarsky most recently served as COO for Gold Key|PHR Hotels & Resorts in Virginia Beach, VA. An alumnus of Cornell’s School of Hotel Administration, he is a seasoned veteran with diverse experience in food & beverage, hotel operations and human resources and has held senior roles with Crestline Hotels & Resorts and B. F. Saul Hospitality Group.
“I am honored to join Wright Investments as we brace for a period of growth and innovation,” said Makarsky. “With a passion for operational excellence, leadership development and associate engagement, I look forward to creating value for our investors and to contributing to the organization’s legacy of success in the years ahead.”
Regarding the company’s growth plans, Wright added, “Via careful and deliberate strategy, we have been fortunate to acquire two existing hotels in downtown Memphis and downtown Lake Placid. Both will become lifestyle assets after extensive re-imagination and renovation. All stakeholders at the employee, community and investor levels will truly benefit and these assets will bear-hug the unique aspects of their locations, history and culture. We are actively seeking other unique and careful acquisitions as well as hotel management and project management opportunities.”
Wright Investments was founded in 1982 and has owned or managed more than 185 hotels in 27 states and the District of Columbia. The company currently operates across a wide spectrum of service levels and geographic areas.