Buyout Creates Luxury Hospitality Division

DALLAS-A local investment group has launched a hotel acquisition and development division, seeded by the 45-acre resort project, Laguna Kai on the Rivera Maya, and buyout of the award-winning Knable Group in New York City.

Timothy L. Barton, president and CEO of JMJ Holdings, has struck a deal for 20-year veteran Christopher R.J. Knable to become president and managing director of JMJ Hospitality, which will be based in New York City. Barton is traveling and couldn’t be reached by publication time to discuss details about the hotel group’s acquisition and development plans. But in today’s press release, the buying focus includes brands as well as real estate. Also under consideration is licensing a name to create an in-house brand.

Knable says JMJ Hospitality will be “a very opportunistic player” that will scan the globe for greenfield development and conversions of ultra-luxury assets. He adds that the chase has begun for deals in the Americas, Middle East and Europe.

JMJ Hospitality is being launched with Laguna Kai, a project being managed by Dallas-based Rosewood Hotels & Resorts. The resort and spa development, featuring a Greg Norman championship golf course, will debut in spring 2007 on the Rivera Maya in Mexico, south of Cancun. The development is a joint venture between JMJ and OHL of Spain. The 120 suites are being outfitted with private plunge pools, secluded patios and private boat docks.