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Associated Press
2 days ago
- Business
- Associated Press
Rowan Innovation Venture Fund Appoints Garden State Venture Partners to Lead Next Phase of Innovation
- New leadership team will expand fund operations, deepen economic impact, and engage new partners across New Jersey's innovation ecosystem - GLASSBORO, N.J., June 12, 2025 (SEND2PRESS NEWSWIRE) — Rowan Innovation Venture Fund (RIVF) today announced the appointment of Garden State Venture Partners (GSVP) as its new management team, marking a significant milestone in the fund's evolution. This leadership expansion brings together a seasoned group of investment and institutional professionals to lead the fund into its next phase of innovation and impact. The GSVP leadership team is comprised of three Rowan alumni, including Michael Connallon, Jr., who brings 24 years of experience in global financial services, including leadership roles at JPMorgan Chase, where he advised highly sophisticated institutional investors, following years at Goldman Sachs and Deutsche Bank. Shawn Hill has two decades of venture capital and private equity management positions, including Partner at Moderne Ventures, Venture Partner at Polymath Ventures, and management positions at Constellation Software, one of Canada's largest private equity firms. Connallon and Hill join Ernie Holtzheimer, a distinguished corporate and securities attorney and partner at Eckert Seamans Cherin & Mellott, LLC, who has managed RIVF since 2020. Connallon says, 'this team brings deep venture experience and industry operational expertise with plans to scale the fund's value and strengthen commercial pathways for university-led research and technology. Through GSVP's global network, we will attract new co-investment partners for RIVF portfolio companies who are mission-aligned and impact-driven, engaging businesses and investors in a soon-to-be-announced Fund that will allow for larger, later-stage funding rounds.' 'Our partnership with Garden State Venture Partners will accelerate the success of Rowan-born startups, attract investment to the region and state, and create new opportunities for our students, faculty, and the broader community,' said Dr. Ali Houshmand, president of Rowan University. 'This collaboration will give entrepreneurs and researchers across New Jersey much needed access to capital, expertise and guidance.' 'This started as a Rowan effort but is quickly growing to have impact across the state. With the expansion of resources within RIVF we are doubling down on our commitment to support bold founders and accelerate innovation across New Jersey,' said Holtzheimer. 'The opportunities ahead are significant,' adds Hill, 'this is just the beginning. Over the coming months, we will be announcing new partnerships, investment strategies and ways we plan to scale our reach across the state.' About the Rowan Innovation Venture Fund Rowan Innovation Venture Fund (RIVF) currently manages 18 active investments in the life sciences, biotechnology, software development, telecommunications and food and beverage sectors. Launched with $5 million commitment in 2014 to seed visionary start-up ideas, RIVF received an additional $20 million commitment in 2022 to back a pipeline of evolving businesses from within and outside the Rowan University community. This fund is particularly unique because university-born venture funds of this scale are rare across the United States with estimates of only 5% of higher-ed institutions participating. Learn more about the RIVF at About Garden State Venture Partners Garden State Venture Partners (GSVP) is a next-gen venture capital firm built to attract and retain companies and talent within the state of New Jersey. GSVP is uniquely positioned to deepen existing partnerships and forge new ones across the state—catalyzing innovation and driving sustained economic success by connecting and investing in the state's innovation ecosystem. Learn more about GSVP at and access full leadership team bios here (PDF): MEDIA CONTACT: Colleen Kendrick, CEO Nonprofit Partners [email protected] 1-800-298-9812 ext. 1 MULTIMEDIA: Photo link for media: Photo caption: GSVP Managing Partners and distinguished Rowan University alumni – Michael Connallon Jr., Ernie Holtzheimer, and Shawn Hill. NEWS SOURCE: Garden State Venture Partners Keywords: Funding and Investment, Garden State Venture Partners, venture capital, entrepreneurship, innovation, technology, finance, economic development, academia, venture fund, innovation, economic development, entrepreneurship, New Jersey, Rowan University, GLASSBORO, N.J. This press release was issued on behalf of the news source (Garden State Venture Partners) who is solely responsibile for its accuracy, by Send2Press® Newswire. Information is believed accurate but not guaranteed. Story ID: S2P126926 APNF0325A To view the original version, visit: © 2025 Send2Press® Newswire, a press release distribution service, Calif., USA. RIGHTS GRANTED FOR REPRODUCTION IN WHOLE OR IN PART BY ANY LEGITIMATE MEDIA OUTLET - SUCH AS NEWSPAPER, BROADCAST OR TRADE PERIODICAL. MAY NOT BE USED ON ANY NON-MEDIA WEBSITE PROMOTING PR OR MARKETING SERVICES OR CONTENT DEVELOPMENT. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story.
Yahoo
07-02-2025
- Business
- Yahoo
MARRIOTT INTERNATIONAL ASIA PACIFIC EXCLUDING CHINA REGION CELEBRATES YEAR OF RECORD-BREAKING GROWTH WITH OVER 100 SIGNED DEALS IN 2024
With record annual deals and rooms signings, the company's APEC region added over 21,000 rooms to its development pipeline in 2024, driven by strategic conversion and multi-unit agreement strategy SINGAPORE, Feb. 7, 2025 /PRNewswire/ -- Marriott International, Inc. (Nasdaq: MAR) today announced another year of strong growth in the Asia Pacific excluding China (APEC) region, signing a record 109 deals across 11 markets, contributing 21,439 rooms to the region's development pipeline, closing the year with 77,532 total rooms in the region's year-end pipeline. The company continues to expand its portfolio in the region across market segments, including its debut in the midscale segment and its expansion of its luxury portfolio, reinforcing Marriott's lead in the region's evolving hospitality landscape. "2024 was a record-breaking year for Marriott International in APEC, with exceptional growth driven by key development milestones, market expansions, and the introduction of new brands in sought-after destinations," said Rajeev Menon, President, Asia Pacific excluding China, Marriott International. "As we continue to meet the evolving needs of modern travelers, APEC remains a pivotal region in our company's growth strategy, reinforcing our position as a leader in the global hospitality industry." Accelerated Growth Across Segments In 2024, Marriott signed 109 deals representing 21,439 rooms in APEC, bringing its regional pipeline to 363 properties and 77,532 rooms — a 12% year-over-year increase. India, Japan and Indonesia were the highest growth markets in the region, comprising 72% of the region's deal signings in the year. Growing the luxury portfolio in the region remains a key focus, accounting for 19% of signed deals in 2024. More than 20 agreements were signed representing 4,600 rooms in the region across six Marriott International Luxury Group brands, meeting the increasing demand from affluent travelers seeking high-end, experiential stays in both established and emerging destinations. This includes the expected debuts of EDITION in Jakarta, Indonesia, and Mumbai, India; The Ritz-Carlton in Jaipur and Udaipur, India; a second W Hotels in Singapore; and more. Multi-unit agreements and conversion opportunities played a key role in the region's pipeline growth, with conversions representing 36% of 2024 signings. Marking the company's regional debut in the affordable midscale space, Marriott launched Four Points Flex by Sheraton in Japan, as part of a strategic multi-unit agreement with KKR to convert 14 properties across 10 cities in Japan. In November 2024, the brand celebrated its official debut in the region and the company's 100th property in Japan with the opening of the Four Points Flex by Sheraton Osaka Umeda. "As Marriott continues to expand its presence across APEC, we aim to continue broadening our portfolio of best-in-class brands and unforgettable experiences to meet the growing demand for travel," said Shawn Hill, Chief Development Officer, Asia Pacific excluding China, Marriott International. "By enhancing our offerings and entering new markets, we're not only aiming to deliver greater value to owners, franchisees and developers, but also adapting to the evolving needs of today's travelers — across all stay purposes and experiences." Market Expansion and Brand Debuts In 2024, Marriott entered new destinations and celebrated brand debuts in the region, centered around its growing traveler base. The company debuted in Papua New Guinea with the opening of Marriott Executive Apartments Port Moresby, increasing its operating presence to 22 countries and territories in APEC. Following the brand's success in Japan, South Korea and Australia, the lifestyle-focused Moxy Hotels brand also made its debut in key cities, including Moxy Bengaluru Prestige Tech Cloud in India, Moxy Putrajaya in Malaysia, and Moxy Bangkok Ratchaprasong in Thailand, catering to a new generation of travelers seeking vibrant and design-forward stays. Celebrated Milestone Openings Building on a record-breaking year of development and pipeline growth, the company also celebrated significant opening milestones in APEC, including: 600th property in APEC – Adelaide Marriott Hotel, Australia 150th property in India – Katra Marriott Resort & Spa 50th property in Malaysia – Penang Marriott Complex 100th property in Japan – Four Points Flex by Sheraton Osaka Umeda With an expanding portfolio, Marriott International in APEC closed 2024 with 635 open properties across 25 brands in 22 countries and territories, underscoring its position as a hospitality leader in the region. As Marriott continues to expand its offerings, the breadth and depth of the company's portfolio remains well-positioned to offer a compelling value proposition for developers and real estate investors. Download hi-res images and sizzle reel here To learn more about Marriott's development opportunities and updates, visit Note on Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of United States federal securities laws, including statements related to our expectations regarding new offerings and markets; deal signings and expected future project openings and portfolio growth; our development pipeline; brand debuts in certain markets and sectors; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we identify in our U.S. Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release and undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise. MARRIOTT INTERNATIONAL, INC. Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of over 9,300 properties across more than 30 leading brands in 144 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at and for the latest company news, visit In addition, connect with us on Facebook and @MarriottIntl on X and Instagram. Marriott encourages investors, the media, and others interested in the company to review and subscribe to the information Marriott posts on its investor relations website at or Marriott's news center website at which may be material. The contents of these websites are not incorporated by reference into this press release or any report or document Marriott files with the SEC, and any references to the websites are intended to be inactive textual references only. View original content to download multimedia: SOURCE Marriott International Sign in to access your portfolio
