Los Angeles-based real estate services firm Lowe Enterprises announced that James “Jamie” Sabatier has been named president and chief operating officer of Destination Hotels & Resorts, the firm’s hospitality management subsidiary.

Established in 1973, the Destination collection of unique properties now includes a distinctive portfolio of nearly 40 award-winning hotels, resorts, and conference centers.

“Jamie is a skilled and innovative leader who shares our vision for the future of Destination Hotels & Resorts,” said Robert J. Lowe, Jr., co-president of Lowe Enterprises.

“With 25 years of experience both inside and outside the hospitality industry, he is well-suited to guide Destination Hotels & Resorts through a new phase of growth.”

As a senior executive with Starwood Hotels and Resorts, Sabatier was part of the team that led the W Hotels brand to industry prominence, involved in determining the strategic direction, positioning and growth plan for the brand.

During his tenure, W Hotels’ portfolio and its active pipeline grew significantly. Sabatier also oversaw Starwood’s global investment team as it completed approximately 50 corporate and real estate transactions including the Le Meridien mezzanine investment and brand acquisition and the $600 million acquisition of Vistana, its residential, fractional and vacation ownership company.

Prior to his time at Starwood, Sabatier was a senior member of the investment banking division of Montgomery Securities where he led the completion of merger, acquisition and equity transactions totaling more than $1 billion.

He began his career in investment banking with Lehman Brothers and, before that, Coldwell Banker Commercial. Most recently, as the head of J. Sabatier & Company, he has acquired commercial real estate assets while guiding the successful turnaround of a family-owned business.

He earned his bachelor’s degree in history from Brown University and his MBA in finance from Northwestern University’s Kellogg Graduate School of Business.

After more than a year of planning for transition, Sabatier will take the helm from retiring-president Charles S. Peck who has led the company for 15 years of exceptional growth and profitability.

Under Peck’s leadership, Destination Hotels & Resorts has grown to be currently ranked the third largest hotel management company in the U.S. (Hotel Business) and has just completed another year of significant growth, adding seven properties to its management roster over the last 12 months.

“Charlie built a strong leadership team that is a great legacy for the firm as we transition to new leadership,” added Lowe. “We will continue to benefit from his keen business skills and passion for the hospitality business as he works with us on future strategic projects.”

The firm currently manages nearly 40 hotel, resort, and resort condominium properties nationwide with a total of more than 9,100 guest rooms. Sabatier assumed his new role on April 9.

Source : HospitalityNet

Researcher: Prateek