This week we launch a special series – Lessons on the Links – where I talk with extraordinary leaders over a round of golf. This week our Guest Mentor is Norman Jenkins, the CEO of Capstone Development, a real estate development company headquartered here in the DC area. Capstone Development owns and manages 30 Marriott and Hilton hotels across the country. Over a competitive round of golf at Norbeck Country Club, Norman and I discuss making the transition from corporate to entrepreneurship and the secret to successful mentor/protégé relationships. On the Rant/Rave/Review segment, I offer a reflection after a tragic week of domestic terrorism in the U.S.
WHILE MOST WERE JUST TRYING TO STAY AFLOAT at the peak of the Great Recession in 2008, Norman Jenkins was busy moving forward, leaving behind a senior vice president position with Marriott International to launch his own company, Capstone Development. After making it through a crash course in operating in a poor economy, Jenkins has learned how to prepare for the worst and appreciate the best. With seven years under his belt and 19 properties in his portfolio, Jenkins says he would not have done it any other way.
Capstone Development, LLC has acquired the 157-room Hampton Inn & Suites Nashville/Vanderbilt and the 169-room Hampton Inn Nashville/Vanderbilt from a private developer and investor.
Marriott International Inc. executives will sign the first contract for the Washington Marriott Marquis, the Convention Center-affiliated property now under construction, in a ceremony scheduled for 5:15 p.m. Tuesday.
Quadrangle Development Corp., as QC 369 LLC, has submitted a planned-unit development application to construct a 570,000-square-foot, 12-story building at Ninth and L streets NW, adjacent to the new Marriott Marquis. The $230 million project, called Columbia Place, will contain a hotel (really, two hotels, both Marriotts) and multifamily residential.
From its inaugural Women’s Ownership Works or WOW Summit at the Courtyard/Residence Inn Manhattan Central Park, Marriott International (NASDAQ: MAR) will announce plans to have 1,000 or 25 percent of its existing global hotel portfolio owned by diverse owners, including women, by 2020. The WOW Summit brings together a small group of current women hotel owners with women exploring hotel development as part of their investment approach.
Joining Mr. Marriott and Mayor Gray for this momentous occasion were city officials, community leaders, representatives from Marriott International, Inc., Quadrangle Development, Capstone Development, Destination DC and Events DC.
The 150-room Courtyard by Marriott in Atlanta, Georgia opened on Sunday, January 23, 2011. Located at 133 Carnegie Way NW, the Courtyard Atlanta Downtown is owned by Capstone Partners and managed by Marriott International.
After 16 years at Marriott International, Norman Jenkins is walking away from what appears to be a secure corporate job and stepping out on his own at a time of high economic turbulence.