HEI Plans to Boost Hotel Investments to $1B+

HEI Hospitality, Norwalk, Conn., plans to increase its hotel investments to more than $1 billion, according to the company.The company's target acquisitions include single-asset portfolios and portfolios of "first-class, full-service" hotels with 200 to 500 rooms in the continental United States. HEI said it has hired Clark W. Hanrattie as senior vice president and chief investment officer from Olympus Real Estate Partners, a private real estate investment firm. "We continue to have an aggressive appetite for growth through acquisitions, and Clark will play a key role in our expansion plans," said Gary Mendell, HEI's chairman and chief executive officer. "His proven track record in single-asset and large portfolio acquisitions brings valuable experience to our team."