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The paths of Philip
Maritz and Lew Wolff, both real estate investors/developers and
St. Louis natives, crossed in 1992 and led to a breakfast meeting
at The Ritz-Carlton Hotel in St. Louis, where they discussed
collaborating on potential investment projects. Two years later
they formed the hotel investment group, Maritz, Wolff & Co.,
and acquired The Ritz-Carlton, St. Louis. Following the investment,
through an innovative approach to ownership, Maritz, Wolff worked
with The Ritz-Carlton’s management team to increase the
property’s revenues by 14 percent and operating profits
by 127 percent. During this period, the partners observed factors
in the hotel industry indicating strong investment opportunities
for top-tier urban and resort lodging properties. |
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