Yet Another New Hotel Coming to Carroll County

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Drill Capital announces strategic entry into the Utica Shale
New Hotel Project Targets Rise in Lodging Demand from Ohio Utica Shale Boom
NEW YORK, NY, November 13, 2013/PRNewswire/ -- Drill Capital LLC, an alternative asset manager focused on investments in the North American energy sector, has closed on a transaction for the construction of a new hotel located in eastern Ohio, at the center of the Utica Shale formation. The three-story hotel, which will consist of 83 rooms, will be built under a Wyndham Hotel Group portfolio brand and is set to open in the second quarter of 2014.
The deal capitalizes on the rising demand for lodging accommodations in the Utica Shale, a key energy production hub, for oil and gas workers, engineers, and travelers. It also marks the growth of Drill Capital, founded by former Ospraie Management energy analyst Farid Guindo. Drill Capital’s focus on opportunistic public and private investments tied to the growth of North American energy sector and its extensive understanding of all aspects of energy economics
“This is an exciting time for our firm, as we have completed our initial start-up phase and have been successful in attracting capital to begin executing on multiple projects in our pipeline,” said Mr. Guindo, Founder and Managing Partner of Drill Capital. “We have assembled a team of seasoned real estate professionals to help leverage our comprehensive experience and research capabilities in the energy space, which is our primary area of focus.”
The Utica Shale formation spans across areas of Canada and several U.S. states—including Kentucky, Maryland, New York, Pennsylvania, Tennessee, West Virginia, and Virginia—but Ohio has become a particular hotspot, with many analysts drawing comparisons to the highly-successful Eagle Ford Shale formation in Texas.
“Our emphasis on primary research and on-the-ground due diligence allows us to anticipate production and activity spikes in key domestic shale formations, and right now the Utica Shale in Ohio is set to exceed other plays at similar stages of their respective development life cycles,” added Mr. Guindo. “We expect that our bottom-up approach will continue to help us pursue similarly attractive opportunities targeting the remarkable growth in unconventional energy across North America.”
Prior to forming Drill Capital, Mr. Guindo worked for Ospraie Management, a commodities-focused investment firm, where he focused on investments in the energy sector. Mr. Guindo joined Ospraie after working for the Natural Resources Group within the Investment Banking Division for Lehman Brothers and Barclays Capital.

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