Palisades Hospitality Group launches real estate and acquisition subsidiary

Olema-House-terrace-king-room

Olema House – Terrace King

Palisades Hospitality Group (PHG), the vertically-integrated hospitality brand behind operations and management company Mosaic Hotel Group, launches Local Framework – the brand’s own real estate and acquisitions firm.

Local Framework acts as the development component of PHG, overseeing all facets of real estate from acquisitions to concept design, development, project repositioning and renovations, programming, and asset management. By introducing in-house real estate expertise, PHG creates greater alignment amongst ownership and management to maximize the long-term value creation and impact for each project. PHG tapped co-founder Skylar Skikos to lead the new development firm, after his success working alongside PHG CEO Tim Harmon.

Advertisement

Local Framework specializes in creating highly individualized hospitality projects shaped with identity and purpose. The company advocates “human-scale” development and combines placemaking with dynamic programming to create iconic destinations. Focusing on smaller markets and neighborhoods throughout the Western U.S. and Mexico, Local Framework views its locations as extensions of its projects and sets out to build inspired spaces for, and meaningful relationships with, its communities. Local Framework is deliberate and intentional in its expansion and selects projects with three defining principles:

  • Sense of place: projects and markets that feature a distinct identity, human scale, and design vernacular in keeping with their settings.
  • Community connection: properties that are integrated with the community and with a deep local following – often via food and beverage concepts. This activates the space and provides for a more dynamic and authentic experience of the destination.
  • Meaningful engagement: projects that are designed to foster personal enrichment, elicit curiosity, and encourage creative pursuits. For example, the company’s upcoming Mexico property has a vibrant arts and culture scene, and as a result, the will include studio space for local artists to create and share their work onsite.

Local Framework’s first project, Olema House, is located outside San Francisco and is an intimate lodge with a rural and Bohemian blend that fits in seamlessly with the company’s philosophy. The company has additional projects in development in San Miguel de Allende, Mexico and Napa Valley. For future growth opportunities, Local Framework targets markets with authenticity and heritage – whether that be through nearby national parks, universities, cultural attractions, or historic towns.

“Growing Palisades Hospitality Group continues to be a goal of mine, and I am excited to officially introduce Local Framework to bring developments and passion projects to realization,” said Tim Harmon, CEO of Palisades Hospitality Group. “Having worked with Skylar over the last five years on real estate and acquisition projects, I am certain his skillset, professionalism and drive will make Local Framework a success.”

Local Framework intends to assemble a portfolio of transformative destinations that impact and inspire travelers and locals. Each property will reinforce Local Framework’s key principles and foster local exploration and enriching experiences. The company has a long-term investment horizon and looks to create generational projects with an enduring legacy. Local Framework will also assist in program development, ensuring programs align with each project’s identity and mission. The company plans to establish destination partners and local insider guides to facilitate and encourage greater exploration and local discovery.

As the President of Local Framework, Skylar Skikos oversees the day-to-day operation of the company, as well planning and scouting future development projects. Skikos has worked with PHG for five years, focusing on business development, investment execution, and project design and development. Prior to joining PHG, Skikos served as Vice President at Fillmore Capital Partners, handling acquisitions, project design and asset management for Fillmore’s hospitality investments. Skikos started his career at Keystone Realty Capital, a real estate capital markets advisory firm where he assisted in the execution of over $1 billion of debt and equity transactions. Skikos holds a Bachelor of Science in finance and Bachelor of Arts in philosophy from Santa Clara University.

“I am thrilled to be leading the Local Framework team and bringing iconic projects to life that connect travelers and locals,” said Skikos. “As an avid traveler myself, and one that looks to it as a means of learning, personal growth, and to fuel my curiosity, I am proud to be developing not just hotels, but creating destinations and experiences that will enrich and intrigue.”

For more information on Local Framework, please visit www.localframework.com.

Advertisement
Lobby-Latin-America
Ibis to offer new customer experience
wellness-trends
Eight wellness trends for 2019
Menu