About Us

About Lennox Capital

Lennox Capital Partners is a private lodging investment and management firm seeking value-add opportunities.  The firm was established in 2016 by Jeff Barone and Pat Lowery, long time principals of the successful Maritz Wolff Hotel Equity Funds.  Successful lodging investment takes  opportunistic vision, strict acquisition criteria, active asset management, entrepreneurial spirit, perseverance, and detailed execution- qualities the principals of LCP have demonstrated for a combined 50+ years.

Lennox Capital takes its name from the historic Hotel Lennox, a property in St. Louis that Jeff Barone and Pat Lowery patiently acquired after a strenuous two-year negotiation with bond holders and city/state officials. The project had every aspect of “value add” and complication that one could imagine, including a project in foreclosure, amending a TIF, two tax incentive districts, a new long term parking lease, securing 10-year tax abatement, structuring State and Federal Historic Tax Credits, the full re-development of a 24-story Federally registered historic shuttered building, the conversion to the popular Courtyard by Marriott select service brand, and the creation of a management company. The project was completed on schedule and under budget, and less than 1-year after opening the hotel the investors were paid their initial preferred coupon. Having completed the successful acquisition, capitalization, redevelopment, conversion, and opening of the former Hotel Lennox, Lennox Capital was born.

As part of a restructuring and reorganization of Maritz Wolff, & Co (“MW”) in 2016, Lennox Capital Partners was formed to assume responsibility of certain projects from MW. Those projects include the asset management of the Ritz-Carlton, St. Louis for a reputable HNW investment expert and his family partnership, and overseeing the ownership and property management of the Courtyard St. Louis Downtown/Convention Center. Pat Lowery and Jeff Barone are co-founders of Lennox Capital, which, in addition to overseeing these projects, are seeking value-add lodging opportunities with investment profiles complementary to their 34+ years of collective experience with MW.

The reputation of MW’s hands-on investment and asset management approach, backed by years of first hand property and asset management experience, will continue with Lennox Capital. Since 1994, MW invested over $700 million in equity in 22 hospitality investments with a total market value of over $3 billion. These hotels and resorts were operated under brands such as Ritz-Carlton, Four Seasons, Rosewood, Fairmont, and Hyatt. They were located across much of North America, the Caribbean, and one in Sydney, Australia. All but one of these investments have been successfully sold and monetized, generating a combined 23% gross levered IRR over an average hold period of ten years. Mr. Barone and Mr. Lowery have overseen the majority of these investments, in many instances taking them from acquisition through disposition. And they will implement their experience, skills, and reputation in what can be considered MW 2.0 or Lennox Capital Partners.


Acquaint yourself with the experienced and competent talent responsible for our growth and success.


Discover how we do what we do - read about our process of acquisition, planning, investment and management of hotels and lodgings.


An overview of our past projects; experience our successful execution of value-add projects.