Twenty Four Seven Hotels announced the company has named Gary Gray as chief investment officer. Gray will oversee portfolio growth strategies across acquisitions, development and hotel management opportunities for the company. The appointment of Gray furthers the growing company’s plan to continue to expand across the western United States.
With more than 25 years of experience in the hospitality industry, Gray most recently served as senior vice president – portfolio business development at TPG Hotels & Resorts. He specialized in sourcing, underwriting and closing hotel transactions ranging from the new construction of California’s first AC Hotel by Marriott, to more than 20 hotel acquisitions and hotel management agreements nationwide, collectively valued in the hundreds of millions of dollars.
In his new role, Gray will spearhead Twenty Four Seven Hotels’ business development strategy with a focus on identifying and building strategic partnerships to position the company in new markets and to optimize its presence in existing markets.
“As we were looking to expand our leadership, Gary’s background was a solid fit with both our growth plan and our culture,” said David Wani, chief executive officer of Twenty Four Seven Hotels. “The timing of his appointment supports our current momentum as his strengths will be instrumental in helping to define and accelerate the company’s future path.”
Gray began his career in hotel development as a project manager for a west coast based commercial developer specializing in the development and ownership of hotels. During his 20-year tenure, he led the development and acquisition efforts to position the company as one of the industry’s leading hotel ownership and operating companies and the largest owner and operator of Embassy Suites Hotels in the country at the time.
“The evolving brand of Twenty Four Seven Hotels combined with the team’s energy and enthusiasm is contagious and is what excites me about joining the group,” commented Gray. “Growing the portfolio isn’t just leveraging new strategies and relationships; it’s about ensuring Twenty Four Seven Hotels’ brand and vision align with our investors, as well.”
Gray’s southern California ties include having earned his B.S and M.B.A. from the University of California, Los Angeles.