Frontier Development was founded in 1998, originally as a residential real estate development and investment company. In 2009, the firm relocated its offices to Washington D.C, and rebranded as Frontier Development & Hospitality Group shifting its investment focus to lodging assets. It has since acquired and developed hotels assets with a total capitalization of over $200 million, completing over 75 real estate transactions since its inception. The firm’s management team brings expertise in the areas of acquisitions, dispositions, development, construction management, asset management and finance.
Investment Strategy (Acquisitions)
Frontier employs a value-add investment strategy to acquire under-branded, under capitalized or mismanaged assets in growing markets with multiple demand generators. Its targeted sources of capital range from high net worth individuals, to institutional private equity and family offices.
Evens Charles is the founder and managing principal of Frontier Development & Hospitality Group LLC. A native of Washington, D.C, Mr. Charles attended Temple University in Philadelphia, Pennsylvania where he was a Big East Conference Division I football athlete. During his five-year athletic tenure at Temple University, he earned a B.A. in Psychology and a Master of Education. Shortly thereafter, Mr. Charles was inspired by his landlord and began investing in real estate, which lead him to start Frontier. At the age of 25, he executed his first small transaction that required an out-of-pocket investment of $1,000 resulting in a $25K profit six months later. This transaction was the catalyst that catapulted Mr. Charles into real estate investing. After a ten-year period of several successful luxury residential and multi-family acquisition and development projects, Mr. Charles, at the age of 36, had led Frontier to its first hotel investment. The firm has since grown to over a nine-figure portfolio of Hilton and Marriott Internationally branded hotel assets across six states.
His accomplishments have been recognized as one of the 2019 Black Enterprise largest 100 Black-Owned Businesses in the nation; 2019 Outstanding Entrepreneur Award by the Caribbean American Heritage; The 2016 Deal of Year Award for the DoubleTree by Hilton Largo, MD, presented by NABHOOD; the 2010 Entrepreneur of the Year awarded by NAMD; the 2010 Outstanding Hotelier Award presented by the Asian American Hotel Owners Association; 2009 Hotel Owner of the Year Award; and the 10 People Under 40 to Watch in 2010 awarded by the Philadelphia Tribune Magazine. He has performed speaking engagements throughout the country for several professional organizations and has been featured in various publications including Hotel Business, Lodging Magazine, Black Enterprise & Business Journals across multiple cities.
He has an endowed scholarship in his name at Temple University targeting underserved students, supports many philanthropic causes and serves as a mentor to many. He is also a member of Temple University’s School of Hospitality & Tourism Board of Visitors, member of the Real Estate Executive Council (REEC), as well as industry organizations such as the National Alliance of African American Hotel Owners and the Asian American Hotel Owners Association.
Hilton is a leading global hospitality company, spanning the lodging sector from luxury and full-service hotels and resorts to extended-stay suites and focused-service hotels. The company’s portfolio includes seventeen world-class global brands and an award-winning customer loyalty program, Hilton Honors. Hilton currently has 912,960 guestrooms in their 5,685 properties across 113 territories and countries globally. Hilton operates 17 brands within their portfolio that reaches over 85 million Hilton Honors members.
Marriott is a leading lodging company with nearly 7,000 lodging properties across 130 countries and territories. Marriott International operates and franchises over 30 hotel brands; develops and operates vacation ownership resorts under the Marriott Vacation Club, The Ritz-Carlton Destination Club, and Grand Residences by Marriott brands; licenses and manages whole-ownership residential brands, including The Ritz-Carlton Residences, JW Marriott Residences and Marriott Residences; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. With over 92 years of hospitality experience, Marriott provides guests with industry-leading amenities and distinctive stays all over the globe.
Intercontinental Hotel Group is a global hotel company whose goal is to create Great Hotels Guests Love. They currently have a portfolio of 842,759 rooms in over 5,656 hotels in nearly 100 countries and territories around the world. IHG are most well known for their brands like Holiday Inn, Staybridge Suites, Crowne Plaza and Intercontinental, but the company’s growth focus has expanded their umbrella of brands to 16 total brands. With their well-balanced portfolio reaching each segment of the hotel industry, the company boasts a steady market position and the ability to provide a robust lodging experience to a variety of travelers.