Walter Barela
Principal, Peak Hospitality
Hospitality and hotel development executive in Albuquerque, New Mexico, with more than 45 years in hotel operations, development, repositioning and turnarounds. Through Peak Hospitality his leadership spans more than 100 hotels and restaurants across 10 states.
- 45+years in hospitality and hotel development
- 100+hotels and restaurants through Peak Hospitality
- 10states
- 2000Peak Hospitality founded
Today
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Principal, Peak Hospitality
Albuquerque, NMFounded and scaled a hospitality development and management platform overseeing more than 100 hotels and restaurants across 10 states: boutique properties, convention hotels, conference centers and water parks. Turnarounds, renovations, repositioning and brand transformations, including the redevelopment of a 372-room Wyndham hotel, conference center and water park. Properties have earned recognition from USA Today, TripAdvisor and Carlson Hotels.
Since 2000 -
Principal, Sky Investment Property Advisors
Albuquerque, NMA real estate advisory firm he established after earning his real estate license, focused on receivership, distressed assets and property disposition after the 2008 downturn. Advises on hospitality property transitions and investment decisions.
Since 2010 -
Owner-operator, Barela Farms and Kare’n’growing Greenhouses
Albuquerque, NMA wholesale horticultural business supplying annuals and perennials to landscape and retail customers.
Since 1999
Areas of expertise
- Hotel development and operations
- Turnaround and restructuring
- Asset repositioning and rebranding
- Hotel renovation and capital projects
- Distressed asset and receivership management
- Real estate and asset disposition
- Hospitality asset management
- Revenue and profit optimization
- P&L, budgeting and financial oversight
- Mergers, sales and ownership transitions
- Board and civic governance
- Hospitality industry leadership
Turnarounds
Properties he has led through renovation, restructuring, bankruptcy or a change of brand, and what moved.
| Property | The work | Result |
|---|---|---|
| Radisson Hotel & Conference CenterAlbuquerque, NM · 372 rooms | An $8 million renovation and repositioning of an independent convention hotel with 30,000+ square feet of meeting space; three new food and beverage concepts; converted to a three-star Radisson. | Revenue from under $5 million to $11 million. Positioned for a $19.5 million sale to Davidson Hotels, backed by Prudential Real Estate. |
| Pickwick HotelSan Francisco, CA · 210 rooms | Reorganized the historic downtown hotel and completed an $8.5 million restoration, then prepared it for transition to Patriot Hotels as a Grand Heritage asset. | ADR from $89 to $145. House profit from 38% to 57%. |
| Forest Park HotelSt. Louis, MO | Steered the hotel through a two-year bankruptcy: restructured debt, directed renovations, and reengineered the 24-hour deli, bakery and bar. | ADR up 90%. Occupancy from 23% to 62%. Deli, bakery and bar above $65,000 a week. |
| Regent Hotel to DoubleTreeAlbuquerque, NM | Led the renovation and rebranding for the property’s transition to DoubleTree. | Commercial and government business up 85%. |
Assignments range from 49-room boutique properties to 400-room hotels and large convention facilities, through bankruptcy, debt restructuring, receivership, acquisition, disposition, rebranding and ownership transitions.
Career
General manager
General Manager, Radisson Hotel & Conference Center
Albuquerque, NM372-room convention hotel with 30,000+ square feet of meeting space and four outlets. Led the $8 million renovation and the conversion to a three-star Radisson.
1994 to 1999General Manager, Pickwick Hotel
San Francisco, CA210-room historic downtown hotel. Reorganization and $8.5 million restoration.
General Manager, Olympus Hotel
Salt Lake City, UT400-room, three-star downtown corporate hotel. Principal hotel liaison to Cavanaugh Hotels Corporation through the sale and management transition.
Forest Park Hotel Management Group
Co-founder and General Manager
St. Louis, MOCo-founded Forest Park Hotel Management with Harold Butler, founder of Denny’s Restaurants. Led hotel management strategy across the group’s properties and steered the Forest Park Hotel through its two-year bankruptcy.
1988 to 1995Community and civic leadership, City of St. Louis
St. Louis, MOFounded the Central West End Merchants Committee and youth programs aimed at neighborhood revitalization, which helped bring renewed hotel development to the area. Appointed City Commissioner for the 24th Ward to complete a retiring commissioner’s term.
Earlier hospitality leadership
Assistant General Manager, Regent Hotel
Albuquerque, NMLed the renovation and rebranding to DoubleTree; commercial and government business up 85%.
Assistant General Manager, Sheraton Uptown
Albuquerque, NMSelected by the Maloof family to lead the renovation that turned an independent property into a four-star branded hotel.
Assistant General Manager and Project Manager, Ramada Classic Hotel
Albuquerque, NMDirected a $1.5 million public-space renovation.
Director of Rooms and Director of Operations, Myrtle Beach Hilton
Myrtle Beach, SCAssistant Director of Front Office Operations, Palacio Del Rio
San Antonio, TXFront Office Manager, Amfac Hotel
Albuquerque, NMDevelopment projects
Construction, renovation, acquisition and disposition projects at the Hampton Inn Santa Fe, Ramada Ltd. Albuquerque, the Le Baron properties and the Ramada Inn Albuquerque.
Industry, government and board leadership
Industry
- American Hotel & Lodging Association, Board of Directors
- Latino Hotel Association, Chairman
- Greater Albuquerque Innkeepers Association, President, two consecutive terms
- New Mexico Hospitality Association, Chairman, five-year term
- Albuquerque Convention & Visitors Bureau, Board of Directors
- Horizon Trust, Board of Directors
Government and civic
- New Mexico Department of Labor, Board of Directors, four-year appointee
- Albuquerque Mayor’s Lodgers Tax Advisory Board, appointed member
- State of New Mexico, Judge Commissioner
- City of St. Louis, Missouri, City Ambassador, Council Member and Commissioner, 24th Ward
Education
- University of New Mexico, degree in Economics, 1986
- Westminster College, pre-law studies, 1979
Get in touch
For hotel management, development, acquisitions or speaking, send a note through this form. It goes straight to Walter.