The history of Mountain Shore Properties dates back to the 1980s when Stephen Wendell's father, Charlie Wendell, founded the company. In 1983, the elder Wendell opened his first Holiday Inn Hotel in Oak Hill, W.Va., not far from his birthplace, thus laying the foundation for today's company. When Stephen Wendell joined the company in 2012 – after completing law school and working as a junior legal counsel for the Philadelphia Eagles – he recognised the untapped potential and the need for expansion.
Under the leadership of the younger Wendell as CEO, Mountain Shore Properties has developed into a national real estate development company with a project volume exceeding $400 million. The portfolio includes a mix of hotel, residential, and office properties, spanning over 25 cities in 11 states. The company is also on the verge of opening its 30th hotel, a boutique hotel in the Wendell family's hometown in West Virginia.
Stephen Wendell explained that Mountain Shore Properties essentially emerged from his father's real estate development company, which he founded in the early 80s without a specific name. His father began developing hotels at that time and opened his first hotel in Fayetteville, W.Va., in the month of Wendell's birth, almost 43 years ago. A symbolic return marks the upcoming opening of a small boutique hotel in August in the same city.
After Wendell left law school, he worked for a year in Philadelphia for the Eagles and was also involved in the real estate industry, before moving to a law firm. He eventually asked his father for a collaboration, indicating that he had ideas to expand the business. His father agreed, and Wendell emphasised the need for a website, a brand, and a mission. He explained that his father had already initiated these foundations and that he himself contributed significantly to their concretisation and consolidation. The name 'Mountain Shore Properties' reflects Wendell's life journey: born in the mountains of West Virginia, raised in Charleston, S.C. The name also symbolises development activities along the East Coast, from the northeastern mountainous region of the Mid-Atlantic to Florida. The mission is clear: to realise successful investment projects that benefit both the company and the respective communities.
The company's deliberately diversified portfolio, both geographically and by asset class, is a key factor that satisfies investors. Wendell noted that many players in the real estate sector focus on a niche, while Mountain Shore Properties prefers a broader approach. Although the company is primarily known for its hotel developments, it is also involved in other, more entrepreneurial asset classes.
The choice of location for non-hotel projects often depends on an extended level of information and knowledge, which either arises from personal connections – such as living in a city for an extended period – or through previous hotel projects that provided access to local brokers and contractors. For example, the company was able to complete a dozen projects in Philadelphia. Nashville serves as another example, where a hotel project was followed by further mixed-use projects, including an Airbnb above retail spaces and an office building. The company currently operates in 13 states and does not aim to be present in all 50 states, but selectively focuses on the region east of the Mississippi. The core focus remains on hotels and a more precise selection of development sites.
Stephen Wendell highlighted that hotel development, especially for lifestyle hotels with integrated restaurants, represents one of the most challenging investments in the commercial real estate sector. He recalled two particularly formative projects, one before and one after the COVID-19 pandemic. Nashville had been on his radar since he joined the company. In 2014, he travelled to Nashville and spoke with his father about the city's great opportunities. At that time, which today, twelve years later, seems like an early phase, critics assumed they were already too late. It took two years to find and secure the right location, while land prices steadily increased. Wendell built a relationship with Hyatt, as there were not many hotel brands in the desired SoBro area in 2015 and 2016.
