Founded in 2012, Propel Development is operated by CEO, Tye Turman, and CFO, Hans Lindberg. Propel Development’s main function is to source opportunities with hotel franchise companies to find suitable locations for new properties and structure equity and debt sufficient to make those opportunities into a reality.
Propel Development's process begins with an initial review of hundreds of prospects per year. In order to meet our basic threshold for development, we have to be confident that multiple industries will be utilizing the prospective location for business and leisure travel. If the prospect passes our initial market evaluation, we reach out to our sources at Marriott, Hilton, and IHG to see what brands are available for the location. Not all brands are suitable for every location, so having a diverse exposure to major brands is a necessity. Once we determine there is a fit, we proceed deeper into our due diligence process by identifying major demand drivers to our selected brand and verifying the product we will be delivering will fit the traveler. At this point, our relationship with our sister company Propel Construction, LLC. comes into play as they begin to work on budgeting for our proposed hotel.