Evolution Hospitality, Arris Investments founders launch hospitality group

Blurry hotel lobby
Murphy and Parsky have a combined 50 years of experience in the hotel and investment management industries. Photo credit: Getty Images / Chinnapong

John Murphy, founding president of Evolution Hospitality, and David Parsky, founder of Arris Investments, have formed a new venture. Triton Hospitality Group is a boutique hospitality firm focused on distressed assets and loans resulting from the current downturn.  

With a combined 50 years of experience in the hotel and investment management industries, the new partners are looking to invest in selective ventures.    

“In 2020 we experienced an extraordinarily swift and unpredictable downward spiral of our economy which overwhelmed the hospitality and travel industries,” said Murphy, partner at Triton Hospitality Group. “While we are extremely optimistic and eager to watch the industry recover, we are putting our combined expertise and track records to work with owners to drive asset value and achieve rapid recuperation and long-term success.”  

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In his new role, Murphy will oversee strategy efforts, asset performance and business analytics at Triton. In 2011 he founded Southern California-based Evolution Hospitality and served as president and CEO of the hotel management group. Under Murphy’s leadership, Evolution grew from nine assets at launch to over 100, including 75 open and 25 in development, by the end of 2019, and company-managed revenue topped $1 billion. In 2015, Evolution was acquired by Aimbridge Hospitality and Murphy remained as the president of this wholly owned subsidiary. In 2020, he become a strategic advisor where he continued to work with senior leaders until launching Triton.  

Bringing to Triton over 22 years of institutional real estate investment management experience, Parsky will oversee acquisitions, finance and capital markets efforts for the firm. Most recently, he directed the business and investment strategy for Arris Investments, a Los Angeles-based real estate investment management firm. Before Arris, he held senior leadership positions at several investment firms, including Apollo Global Real Estate, Citi Property Investors, Colony Capital and Security Capital Group and has been responsible for over $2 billion of real estate investments.  

”The shock to the system that the hospitality business experienced in 2020 has created an urgent need for owners and lenders to revisit and restructure their capital stacks as a predicate to any prudent recovery plan,” said Parsky, partner at Triton Hospitality Group. “Triton has the tools, capital and experience to accomplish this crucial step for its projects.”