NAPALI CAPITAL ANNOUNCES FORMATION OF NAPALI HOSPITALITY GROUP
Napali Capital broadens investment platform and plans first offering through Napali Hospitality Group
Southlake, Texas, November 8, 2018 — Napali Capital, LLC, today announced the formation of Napali Hospitality Group, the first addition to the Napali Capital family of companies. Napali Hospitality Group will focus on the acquisition of hospitality assets with the goal of achieving the highest level of employee and guest service and profitable returns for Napali Capital investors and stakeholders.
Tim Black, Co-founder and Managing Partner of Napali Capital, will lead Napali Hospitality Group alongside his brother and Napali Capital Co-founder and Managing Partner Thomas Black, M.D. Tim Black’s experience in hospitality management and operations, maximizing revenue, implementing new revenue streams, and cost control were fundamental in forming Napali Hospitality Group. As a 32-year veteran of the hospitality and entertainment industry, he spent the last 13 years of his career at Great Wolf Resorts before retiring as Chief Operating Officer of the company. Black also worked for Six Flags Entertainment where he served as park President for Hurricane Harbor, Wild Animal Safari, and Six Flags Great Adventure, the company’s largest and most profitable asset.
Tim Black and Thomas Black are joined by former Great Wolf Resorts Chief Executive Officer Kimberly Schaefer who brings more than 25 years in hospitality industry finance, leadership, and executive oversight to the company. Schaefer, who was instrumental in orchestrating Great Wolf Resort’s public offering in 2005 as we as well as in its sale to private equity, first in 2013 and again in 2015, also personally has owned numerous hotels. Her portfolio included many nationally recognized brands including Holiday Inn Express, Holiday Inn Hotel & Suites, Hampton Inn & Suites, Country Inn & Suites, Fairfield Inn & Suites, Crowne Plaza (now Holiday Inn & Suites), Microtel Inn, and Clarion Suites.
“It’s exciting to be able to bring together my accumulated experience to form Napali Hospitality Group,” said Black. “With our team’s knowledge, experience, and resources combined with the momentum in hospitality profitability, we were presented with the perfect opportunity to move forward with this business plan.”
“I’m really looking forward to partnering with Tim on this new venture,” said Schaefer. “Our combined tenure and passion for this industry along with Tom’s financial insight makes for a promising and profitable future for Napali Hospitality Group and its investors.”
In addition to verifying each investment meets strict criteria, Napali Hospitality Group leadership also consults an Advisory Board, of which Schaefer is a member along with Bill Simpson and Rilous Carter. The Advisory Board provides expertise through their extensive careers as management and operations leaders in major, nationally and internationally recognized hospitality brands to consult with Napali Hospitality Group on investments.
Simpson is an experienced executive with 40 years of experience in the hospitality and entertainment industries. Most recently, he worked with Hershey Entertainment and Resorts Company for 21 years, serving as its Chief Executive Officer from 2013 until his retirement in 2017, during which time, he and his team achieved record financial results, increasing revenue by 20 percent and EBITDA by 46 percent. Simpson’s reputation for strong organization development that focuses on company culture, team building, training and development, and succession planning is recognized throughout the industry.
Carter is a forty-five-year veteran of the hospitality industry. His early industry career includes leadership and management roles at Hyatt Hotels and Resorts Stouffer Hotels and Resorts, now Renaissance Hotels & Resorts. In 1997, Rilous joined Walt Disney World Resort where he served in numerous management and critical team roles at numerous Disney World Resorts and Disney’s portfolio of exclusive Vacation Club offerings. Before his retirement in 2016, Carter was Vice President of Disney’s Hollywood Studios theme park, Epcot and then of Catering, Convention Services, and Park Event Operations for all Walt Disney Parks and Resorts.
“Coming from an industry of service, I’m thrilled to be able to continue serving through Napali Hospitality Group,” said Carter.
Simpson said he was “honored to have been included as part of the Advisory Board and am looking forward to being a part of the growth of this company.”
Napali Hospitality Group’s first acquisition, the Holiday Inn DFW Airport Area West, will be offered to investors next week. The asset is a five-story, mid-rise, full-service hotel located eight minutes from DFW Airport, and is centrally located between Dallas and Fort Worth.