Industry Veterans John Murphy and David Parsky Announce Launch of Investment Firm Triton Hospitality Group
New Venture is Targeting Hotel Assets and Loans for Economic Recovery Through the Current Downturn and Beyond
John Murphy, founding president of Evolution Hospitality and David Parsky, founder of Arris Investments, announced today their new venture, Triton Hospitality Group (Triton), a boutique hospitality firm focused on distressed assets and loans resulting from the current downturn. With a combined 50 years of experience in the hotel and investment management industries, the new partners seek to invest in selective ventures, leveraging their diverse skills to maximize value, while collaborating with owners, lenders, and capital providers to bring assets to their full potential.
"In 2020 we experienced an extraordinarily swift and unpredictable downward spiral of our economy which overwhelmed the hospitality and travel industries," said Murphy, partner at Triton Hospitality Group. "While we are extremely optimistic and eager to watch the industry recover, we are putting our combined expertise and track records to work with owners to drive asset value and achieve rapid recuperation and long-term success."
In his new role, Murphy will oversee strategy efforts, asset performance and business analytics at Triton. A tenured leader in the space, in 2011 he founded Southern California-based Evolution Hospitality and served as president and CEO of the innovative hotel management group. Under Murphy's leadership, Evolution grew from nine assets at launch to over 100, including 75 open and 25 in development, by the end of 2019, and company-managed revenue topped $1 billion, ranking Evolution as one of the top third-party hotel management companies in the US. In 2015, Evolution was acquired by global leader Aimbridge Hospitality and Murphy remained as the president of this wholly owned subsidiary. In 2020, he become a strategic advisor where he continued to work with senior leaders until launching Triton.
Bringing to Triton over 22 years of institutional real estate investment management experience, Parsky will oversee acquisitions, finance, and capital markets efforts for the firm. Most recently, he directed the business and investment strategy for Arris Investments, a Los Angeles-based real estate investment management firm. Prior to Arris, he held senior leadership positions at several high-profile investment firms including Apollo Global Real Estate, Citi Property Investors, Colony Capital, and Security Capital Group and has been responsible for over $2 billion of real estate investments.
"The shock to the system that the hospitality business experienced in 2020 has created an urgent need for owners and lenders to revisit and restructure their capital stacks as a predicate to any prudent recovery plan," said Parsky, partner at Triton Hospitality Group. "Triton has the tools, capital and experience to accomplish this crucial step for its projects."
Together, Murphy and Parsky bring a unique set of skills to the industry, including engaged leadership, strong hotel revenue generation and operational expertise, complex capital markets and restructuring execution capabilities, vast industry connections and transaction sourcing channels. Having co-invested in and managed three successful hotel transactions in the last cycle, they have established a strong relationship and a proven track record of success delivering exceptional returns to investors.
Triton Hospitality Group is located at 3029 Wilshire Blvd., Suite 200, Santa Monica, CA 90403. For more information, visit www.TritonHG.com or email inquiry@TritonHG.com.