What EKN Development does

EKN Development Group LLC is a private, family-controlled real estate investment and development firm founded in 1995 by Ebbie Khan Nakhjavani and headquartered in Newport Beach, California with a secondary office in Bergamo, Italy. The firm pursues select- and full-service ground-up hospitality developments and adaptive reuse of existing assets, targeting unique locations with high barriers to entry such as the entrances to Grand Canyon and Yosemite National Parks, the Mayo Clinic campus in Rochester, MN, and the historic San Pellegrino Terme in Lombardy, Italy.

EKN integrates finance, engineering, construction, legal, creative, and asset management disciplines in-house, supplemented by specialty partners (FFKR Architects, Weis Construction, Lombardini22) and joint-venture capital partners (PEG Companies, Napean Capital, Garn Development, Western States Lodging). Its current operating portfolio includes four hotels near Mayo Clinic plus dual-branded Marriott properties in Tempe, AZ and Sand City, CA, with a development pipeline spanning the Waldorf Astoria Lake Tahoe, Appellation Petaluma, ALDEA at the Grand Canyon, and the 99-year lease on the Grand Hotel San Pellegrino in Italy. The firm reports $700M+ in current portfolio value, $4.95B+ in active development and $15B+ in cumulative development experience across 20+ projects.

The firm monetizes primarily through development fees, ownership and operation of completed hotels under franchise agreements with Marriott, Hyatt, IHG and Hilton, and equity participation in joint ventures with institutional capital partners. Distribution of finished assets runs through brand loyalty programs and global reservation systems. The 11-50 employee base is supplemented by an extended network of JV partners, consultants and brand-affiliated hotel operators, allowing EKN to underwrite large mixed-use projects such as Ethos (2.1M SQ FT, 1,400 keys) and the $2.85B Manhattan 11 Tower redevelopment without proportionate corporate headcount growth.

Name

EKN Development

Legal name

EKN Development Group LLC

Website

https://ekndevelopment.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

EKN Development is a private, family-controlled real estate investment and development firm that builds and operates hospitality and mixed-use properties at high-barrier locations across the United States and Italy, integrating finance, design, construction and asset management in-house.

Ownership category

akta.pro rank

Headquarters

HQ city

Newport Beach

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Development Fees: EKN Development generates revenue by developing hospitality and mixed-use properties, collecting development fees and potentially retaining ownership or selling completed assets. Projects span ground-up development, adaptive reuse, and renovation across select- and full-service hospitality segments.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

EKN Development is a real estate investment and development firm that pursues select- and full-service ground-up development and adaptive reuse projects targeting unique locations with high barriers to entry, both nationwide and internationally. The firm develops hospitality (hotels, resorts) and mixed-use properties, integrating finance, engineering, construction, legal, creative, and asset management disciplines in-house. Projects are delivered under franchise agreements with major hospitality brands (Marriott, Hyatt, IHG, Hilton) and in partnership with institutional capital providers.

Product overview

EKN Development is a real estate investment and development firm offering a portfolio of hospitality and mixed-use properties across the United States and internationally. The company's core services include ground-up development and adaptive reuse of hotels, retail, and mixed-use projects. The product portfolio consists of operating hotels (Rochester Hotel Indigo, Civic on First Hyatt House, Eleven02 EVEN/Staybridge, Tempe Marriott dual-branded), development projects in various stages (Grand Hotel San Pellegrino in Italy, Waldorf Astoria Lake Tahoe, ALDEA Grand Canyon, Ethos, Stiletto), and partner developments (Mall of America, Del Amo Fashion Center, Las Vegas Monorail, The Forum Shops). EKN differentiates through in-house integration of finance, engineering, construction, legal, creative, and asset management disciplines, targeting unique locations with high barriers to entry and diverse demand drivers.

Differentiator

Problem solved

Functional benefit

Products and services

• Ground-Up Hospitality & Mixed-Use Development Services Select- and full-service ground-up real estate development for hospitality (hotels, resorts) and mixed-use properties targeting unique locations with high barriers to entry, both nationwide (U.S.) and internationally. EKN integrates finance, engineering, construction, legal, creative, and asset management disciplines in-house and delivers projects in partnership with institutional capital providers and franchisors such as Marriott, Hyatt, IHG, and Hilton.
• Adaptive Reuse Development Services Transformation of existing structures into hospitality and mixed-use developments, including office-to-residential/hotel conversions (Miami Dual Tower) and historic property renovations (Rochester Hotel Indigo, Grand Hotel San Pellegrino). Combines preservation with contemporary luxury positioning.
• Site Development & Entitlements Services Site planning, entitlements, CEQA compliance, consultant management, permit acquisition, and pre-construction coordination for large-scale retail and entertainment destinations. Includes work for Simon Property Group landmarks such as Mall of America, Del Amo Fashion Center, and The Forum Shops at Caesars.

Quantifiable outcome

• EKN's first Rochester hotel project (Hyatt House) was Rochester's first-ever Qualified Opportunity Zone project and was deemed essential business during COVID-19 pandemic.
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered major, core and minor.

• Lombardini22majorImplementation/ SI/ Consulting Partner · 1 January 2025Lombardini22 (Italian architecture and design firm) was awarded the feasibility study for the Grand Hotel San Pellegrino renovation and will oversee the architectural restoration of the Art Nouveau landmark. The project has been covered extensively in Italian publications including Il Sole 24 Ore.
• Stilo Group (Percassi Group)majorStrategic or Co-development Partner · 1 January 2024EKN Development partnered with Stilo Group (real estate division of the Percassi Group) for the Grand Hotel San Pellegrino project. Stilo Group was already involved in San Pellegrino Terme, having acquired Villa Giuseppina. EKN's CEO visited San Pellegrino with Stilo Group partners in 2022 before making the investment decision.
• Western States LodgingcoreImplementation/ SI/ Consulting Partner · 1 January 2021Western States Lodging served as development partner on the Rochester EVEN Hotel and Staybridge Suites, contributing hotel development and management expertise. WSL VP Tyler Miles noted the project's complexity and the team's collective expertise in navigating construction during COVID-19.
• Simon Property GroupcoreStrategic or Co-development PartnerEbbie Khan Nakhjavani served as Manager of Site Development for Simon Property Group on multiple landmark projects including Mall of America, Del Amo Fashion Center renovation, and The Forum Shops at Caesars. EKN led site-related tasks including consultant management, permits, and pre-construction coordination.
• TransMAX / York Capital GroupmajorStrategic or Co-development PartnerEbbie Khan Nakhjavani co-founded York Capital Group and served as managing member overseeing real estate development activities for TransMAX's Las Vegas Monorail Project. This project connected major destinations along Las Vegas corridors with 3.9 miles of track and 7 stations, spurring integrated mixed-use developments.
• In-Group Hospitality (a PEG Company)coreImplementation/ SI/ Consulting PartnerIn-Group Hospitality, a PEG Companies subsidiary, manages operations of the Rochester Hyatt House hotel. With a portfolio of 30+ properties across 13 states, IGH brings seasoned hospitality operations expertise to EKN-developed properties under brands including Hilton, Marriott, Hyatt, and IHG.
• FFKR ArchitectsminorImplementation/ SI/ Consulting PartnerFFKR Architects served as the design and architecture partner for the Rochester EVEN Hotel and Staybridge Suites project, contributing design and construction expertise.
• Weis ConstructionminorImplementation/ SI/ Consulting PartnerWeis Construction served as the construction partner for the Rochester EVEN Hotel and Staybridge Suites project, executing construction under challenging pandemic conditions.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Sage Hospitality Group: Denver-based hotel owner, developer, and operator with a similar mid-size private profile. Develops, owns, and manages hotels under major brands across the U.S., directly comparable to EKN's hospitality development and operating model.
• Concord Hospitality Enterprises: Hotel development and management company with portfolio of 130+ hotels across 25 states, focused on premium-branded select-service and full-service properties under Marriott, Hilton, Hyatt, and IHG flags. Directly comparable to EKN's brand-franchise-driven development model.
• The Buccini/Pollin Group: Privately held hospitality and real estate development firm that develops, owns, and operates hotels under major brands including Marriott, Hilton, and IHG. Closely parallels EKN's full-stack hotel development approach with integrated ownership and brand partnerships.
• Dimension Development: Privately held hotel development, ownership, and management company with 60+ properties, focused on select-service and extended-stay brands under Marriott, Hilton, and IHG. Similar in scale and strategy to EKN's mid-size private hospitality portfolio.
• Procaccianti Companies: Family-controlled hospitality real estate investment and management firm that owns and operates full-service and select-service hotels under major brands. Comparable to EKN's family-owned, multi-generation private development approach.
• American Hospitality Group: Hotel development, ownership, and management company operating extended-stay and select-service properties under franchise brands. Comparable private hospitality developer with similar mid-tier brand portfolio strategy to EKN.
• The Cordish Companies: Privately held mixed-use real estate developer known for large-scale entertainment and hospitality destination projects including hotels, casinos, residential, and retail. Directly comparable to EKN's Ethos-style mixed-use entertainment destination concept.
• Newport Hospitality Group: Hotel development, ownership, and management firm operating select-service properties under Marriott, Hilton, and IHG. Comparable in scale and full-stack private hospitality model to EKN.
• Cypress Equities: Real estate development and investment firm specializing in mixed-use, hospitality, and retail destinations across the U.S. Comparable mid-size private developer with similar destination-making strategy to EKN's mixed-use projects.

Broad incumbents

• The Related Companies: Large, established national mixed-use and affordable housing developer with hospitality components in portfolio (e.g., luxury branded residences, hotel partnerships). Comparable to EKN's mixed-use destination ambition but at significantly greater scale and with broader scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ekn-development-group

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EKN Development