Steven Marx – President and Founder
Steve Marx has gained a unique perspective of the hotel industry over the past thirty years successfully completing a wide variety of hotel dispositions, receivership and advisory assignments during many economic cycles. He founded Hotel Source in 1996 to create an innovative and uniquely focused company to combine hotel industry-specific insight with superior real estate knowledge. Steve quickly assesses shortcomings and opportunities in hotel assets and is able to implement a plan to maximize value.
Steve has successfully represented institutional and private sellers, hotel companies and owner-operators in the value-driven disposition of full, limited and select service hotels ranging in size, location and market orientation. Steve is also Managing Member of SJMG, LLC, a private equity firm that invests in distressed hotel assets turning them around to reach their maximum potential and value. This group completed their first acquisition of a 114-room hotel property located in a resort market.
Steve gained operations experience with Hyatt, Four Seasons, Fairmont, Sheraton, Holiday Inn and independent hotels. He is or has been a member of the International Society of Hospitality Consultants (ISHC), Michigan State University School of Hospitality Business Advisory Board (MSU), International Council of Shopping Centers (ICSC), Chicago Real Estate Council (CREC), Urban Land Institute (ULI) and Turnaround Management Association (TMA).
Steve received his Masters of Business Administration (MBA) degree from DePaul University in Chicago, with a concentration in entrepreneurship and finance. While at DePaul, he participated in an international business program in Thailand, Laos and Vietnam. He obtained his Bachelor of Arts (BA) degree from the Michigan State University School of Hotel Management and studied at Ecole Hotelière in Lausanne, Switzerland, and University of Wisconsin – Madison. He also is a graduate of Archeworks, an alternative design school focused on addressing social issues. Steve received his Certificate in Real Estate Finance Investment from New York University. Steve has been a guest lecturer at Michigan State University, DePaul University, Kendall College and Roosevelt University.