Connor Carey has been promoted Vice President at Smith Hill Capital
Smith Hill Capital, the dedicated private credit and commercial real estate debt investment management business of Procaccianti Companies, announced today the promotion of Connor Carey to Vice President. In his new role, Carey will lead strategic initiatives across lending and capital markets, supporting the continued growth of the Smith Hill Capital private credit platform.
Since joining Smith Hill Capital, Carey has played a critical role in expanding the firm's portfolio and deepening its relationships across the industry. His ability to execute complex transactions and drive value for borrowers, partners, and investors has helped solidify the firm's reputation as a trusted lending partner in the hospitality space.
Smith Hill Capital continues to grow its footprint through strategic investments and partnerships, bringing institutional execution to middle-market hospitality deals across the U.S.
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Highlights Weekend nights and non-Top 25 Markets drove U.S. RevPAR Global RevPAR slowed but remained positive Mixed signals ahead for summer Weekends made up for lackluster weekday performance U.S. hotels posted a modest advance in the week ending 17 May with a strong ending offsetting lackluster performance at the beginning. Revenue per available room (RevPAR) rose 0.9%, lifted by a 1.3% gain in average daily rate (ADR) as occupancy fell. RevPAR on Thursday through Saturday increased 2.4% with Friday on top at +3.3%. Tuesday/Wednesday was flat (+0.4%), and the start of the week was down (-1.7). This is notable because last week, it was the weekend that saw the largest loss. It is difficult to pinpoint the cause of this weekend flip, but it's possible that a shift in high school and college graduations occurred due the later start of the semester after the Christmas/New Year holidays. — Source: STR — Source: STR Detroit earned top honors during a slow week across the Top 25 Markets Markets outside the Top 25 drove performance with a 2.2% RevPAR gain, while the Top 25 Markets (T25) dropped 0.4%. However, 11 of the T25 saw RevPAR advance, led by Detroit (+26.1%), which hosted Automate 2025. Chicago saw its RevPAR increase 13.5% with double-digit gains Tuesday through Saturday. All seven submarkets saw RevPAR growth in the week, ranging from +1.4% in Chicago Southwest to +27.6% in Chicago North. The Chicago CBD submarket was up 14.4% for the week and is up 5.9% since 5 January 2025 all on ADR. Los Angeles and San Diego rounded out the list of double-digit RevPAR gainers. 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Hospitality Net
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Hospitality Net
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