McWhinney Names Omar Palacios Executive Vice President of Hospitality

May 28, 2024 Posted In

McWhinney Names Omar Palacios Executive Vice President of Hospitality

Palacios brings nearly three decades of hospitality development experience to the role

DENVER – May 30, 2024 – McWhinney, a Colorado-based real estate investor and developer in commercial, multifamily, hospitality, residential and mixed-use assets, today announced that Omar Palacios has been named Executive Vice President of Hospitality. Palacios will oversee all aspects of development, acquisition, transactions, financing, design, construction, and the transition to asset management. Dave Johnstone, the current Executive Vice President and Chief Investment Officer of Hospitality, will move into a strategic advisory role before formally retiring at the end of the year.

With his extensive hospitality legacy, Johnstone has been instrumental in overseeing McWhinney’s hospitality acquisitions, developments, asset management, and dispositions since 2015. His notable projects include Santa Monica Proper, Austin Proper, Hyatt Place Boston Seaport, Hyatt Centric in Austin, and the Cal Neva Resort in Lake Tahoe. Johnstone’s contributions will be invaluable as he works closely with Palacios to ensure a seamless transition.

In his new role at McWhinney, Palacios will lead the company’s hospitality development team, evaluate acquisition opportunities, manage project teams, oversee project life cycles and ensure project alignment with McWhinney’s strategic plan goals, all with the aim of driving the company’s future growth and success.

“Dave has demonstrated exceptional leadership and vision, playing a vital role in McWhinney’s acquisition and development of irreplaceable hospitality assets across the U.S.,” said Keith Hurand, Chief Development Officer at McWhinney. “Omar’s appointment reflects our commitment to continuing Dave’s legacy of forward-thinking leadership and to elevating our hospitality portfolio. His role is pivotal in shaping our hospitality endeavors, driving strategic development and execution with the goal of creating places people love and meeting the highest standards of excellence, innovation and guest satisfaction.”

Palacios joins McWhinney Real Estate from Geolo Capital in San Francisco, where he served as Chief Operating Officer, Chief Financial Officer and Partner from 2015 to 2023. During his tenure at Geolo Capital, Palacios played a key role in the firm’s transition and growth, leading various strategic initiatives and overseeing numerous successful transactions across multiple sectors. Palacios is relocating from California to Colorado and officially assumed his role on May 28.

“I am honored to join McWhinney and contribute to the company’s ongoing success in the hospitality sector,” said Palacios. “Dave has built a great portfolio and team. He’s also been instrumental in establishing McWhinney as a key player in hospitality, and I’m excited at the opportunity to extend the firm’s growth. I look forward to collaborating with the team at McWhinney and leveraging our collective expertise to identify and execute strategic opportunities that drive value and deliver exceptional experiences for our guests and partners. Lastly, I’d like to thank Chad and Troy McWhinney for the opportunity to continue building on their success in the commercial real estate industry.”

For more information on McWhinney’s leadership and hospitality developments, visit: https://mcwhinney.com/

About McWhinney Real Estate

McWhinney is passionate about creating places people love. Guided by its values – respect, integrity, perseverance and legacy – the company cultivates communities with a unique sense of place, focusing on value-generation, sustainability and connectivity. To date, the full-service real estate investment, development and management firm has planned and developed over 6,000 acres of master-planned communities and 13 million square feet of mixed-use, industrial, residential, multifamily, hospitality and office properties.

McWhinney’s long-standing history began with a Colorado homestead over 150 years ago, culminating in the creation of the company in 1991 and continuing today with a diversified real estate development vision shaping the landscape of communities concentrated in Colorado’s Front Range and the Western U.S.

Select recent McWhinney company and project accolades include both ULI Americas’ and ULI Global’s “Award for Excellence,” Colorado Business Committee for the Arts’ “Business for the Arts” award, Broomfield Council of the Arts & Humanities’ “Business of the Year” award, the Associated Builders and Contractors Rocky Mountain Chapter’s “Project of the Year” and “Excellence in Construction” awards and the National Association of Home Builders “Platinum Award – On-the-Boards.” McWhinney’s DEI Committee has also been recognized with an “Award of Achievement” by NAIOP Colorado. With sustainability at its core, McWhinney’s Centerra community has been certified as Colorado’s first National Wildlife Federation Certified Wildlife Habitat.

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