Fort Worth-based M2G Ventures plans to enter the hospitality sector, its first major move beyond industrial and mixed-use retail.
Founded in 2014 by sisters Jessica Miller Essl and Susan Miller Gruppi, the development firm has hired Chris Hanrattie — a seasoned hotel investment executive formerly with Crescent Real Estate — to lead the new vertical as managing director and head of hospitality, the Dallas Business Journal reported.
M2G has a strong track record in urban redevelopment, having acquired 5.1 million square feet of real estate and turned $1.6 billion in sales. Notable projects include Fort Worth’s Foundry District, which it sold in 2022, and the Mule Alley redevelopment in the Fort Worth Stockyards.
The firm is also involved in a $1 billion expansion of the historic Stockyards. The project hit a snag when M2G’s development partner California-based Majestic Realty Company became embroiled in a legal dispute with the head of its Texas operations, Craig Cavileer. He left the company this spring.
The leap into hospitality aligns with M2G’s broader mission to “inspire evolution through impact and innovation,” said Essl. She emphasized the company’s affinity for mixed-use environments, where hospitality naturally complements retail and other asset classes.
Hanrattie supervised the acquisition of 23 hotels totaling more than $2 billion during his time at Crescent. At M2G, he will focus on acquiring hospitality properties in high-growth Sun Belt markets such as Texas, Georgia and Arizona. His strategy targets underperforming assets that could benefit from rebranding, repositioning or new management, especially “soft brand” hotels that integrate into their communities — like Fort Worth’s Hotel Drover.
Hanrattie sees growing demand for hotels that offer immersive experiences beyond lodging. Whether luxury or select-service, successful investments should blur the lines between lodging, retail and local culture.
“I think that’s the wave of the business going forward,” he told the Business Journal.
While no deals have been finalized, Essl confirmed that M2G is actively evaluating potential acquisitions.
“We’re not going to tread lightly,” she said, hinting that the firm’s first hospitality project will make a bold statement.
The Miller sisters are identical twins who have focused on adaptive reuse, historical redevelopments and industrial property development.
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