Midas Capital will offer investors a new fund vehicle in order to raise money for future hotel acquisitions and developments.
St. Louis, Mo – Midas Hospitality, a premier hotel management group, recently created a sister company called Midas Capital.
The company’s new office, which is located at 63 Wall St. in New York, will be led by Director of Investments Josh Burrell. Director of Investments Eric Goettelmann will head the St. Louis office, which is located at 1804 Borman Circle in St. Louis and is the headquarters of Midas Hospitality.
Midas Capital will offer investors a new fund vehicle in order to raise money for future hotel acquisitions and developments. Instead of investing in only one hotel, this new opportunity gives Midas investors greater diversification as the fund targets approximately 10 to 15 hotel projects. Midas Capital plans to raise up to $100 million by the middle of 2019 with the assistance of approximately 250 investors. Midas Capital estimates its new fund will allow Midas Hospitality to employ an additional 350 employees across the Midwest and Southeastern states.
Burrell’s responsibilities include strategy development, acquisition due diligence, investor relations, and sector research. He possesses more than 10 years of investment advisory, capital markets, and acquisition work. Burrell is a member of the New York Society of Security Analysts and a member of the CFA Institute. Prior to joining Midas Capital, he served as the Vice President in the Capital Advisory Group for Lazard Asset Management, a global investment banking firm based in New York City. Burrell previously worked as a senior analyst in both New York and London at Moody’s Investor Services. He currently serves as a board member on the Gateway Disabled Ski Program and holds FINRA Series 7 and 63 licenses. He earned his Bachelor of Science in Business Administration (B.S.B.A.) degree with a concentration in finance in the Applied Financial Analysis program from the John Cook School of Business at Saint Louis University.
Goettelmann’s responsibilities include managing equity raises, as well as leading projects and corporate financing initiatives such as modeling and underwriting for new developments and acquisitions, deal structuring, debt procurement, debt management, financial reporting, forecasting, performance analysis, and ensuring Midas Capital and its funds are operating within compliance of the SEC and other regulatory bodies. He has over 10 years of finance, accounting, business development and acquisition, and consulting experience, which includes serving as Controller for Midas Hospitality. Prior to joining Midas Hospitality, Goettelmann worked in the assurance services department at a local public accounting firm while co-founding and establishing multiple businesses. He is a member of Audubon Associates, co-founder of Milk and Honey in Wildwood, Mo., and serves on the board of the Midas Hospitality Family Foundation. He is currently earning his Master of Business Administration (MBA) degree from the Olin Business School at Washington University in St. Louis and has his Bachelor of Science in Business Administration (B.S.B.A.) degree with a concentration in Accounting from the John Cook School of Business at Saint Louis University.
“Midas Capital offers a new approach to our investors where they can now be involved with multiple hotels and opportunities at one time,” said co-founder and managing member J.T. Norville. “We are looking at developing a wider diversification of business ventures where we can make the best use of our long-term experience, strong network, and vertically-integrated brand.”
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