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After Mario Tricoci sold his stake in the Elysian hotel in Chicago to Sam Zell in late 2011 , he put his head together with his GM and now business partner Kevin Robinson to create a new management / development company that would differentiate itself in the 4-star independent space .
They decided to look at secondary and tertiary markets where there was a lack of interesting hotels and supply , in general , and where there were opportunities to embrace the local culture .
The pair has been looking at development opportunities in the US $ 20 million to US $ 30 million range in addition to independent owners that needed help with service or creating a sales philosophy that is relevant to the local market .
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They ended up at the Iron Horse Hotel in Milwaukee , where they convinced owners Tim Dixon and Brigette Breitenbach to sell them an equity position and let take over management .
That deal marked the beginning for Aparium Hotel Group Properties , with offices in Chicago and Milwaukee . In fact , Dixon is now a managing partner of Aparium Hotel Group and CEO of Aparium Development Co . while Breitenbach is spearheading marketing .
Tricoci says the group is very close to making a deal with sizeable equity partners that will allow it to compete with bigger players in the independent space . The group , which has a second , US $ 350,000-per-key hotel coming soon in LaCrosse , Wisconsin , and
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If you create that local respect , there ’ s a stIckIness to that busIness and a support that has an extraordInary rIpple effect . |
– Mario Tricoci |
several others in various stages of development , operates under a strict platform that focuses on “ translocal ” hospitality , owner collaboration and an intuitive service model . “ If you create that local respect , there ’ s a stickiness to that business and a support that has an extraordinary ripple effect ,” Tricoci explains .
Tricoci says Aparium is also under development in downtown Detroit and Covington , Kentucky , and is negotiating a deal in Minneapolis . He also notes possible deals in Montclair , New Jersey , and Vail and Telluride , Colorado .
“ Our profitability at the Iron Horse is extraordinary , and our owner is making a lot of money ,” Tricoci says . “ And that is a good calling card .”
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