Today we’d like to introduce you to T. Dupree Scovell.
T. Dupree, let’s start with your story. We’d love to hear how you got started and how the journey has been so far.
I’m the managing partner and chief investment officer at Woodbine Development Corporation, a full-service real estate company that specializes in hotels, resorts and office/mixed-use projects. I also oversee capital markets efforts and our company’s acquisition platform, Woodbine Legacy Investments (WLI), a private-equity fund dedicated to the acquisition and development of upscale hotels throughout the United States. WLI is what paved the way for our connection to Atlanta, as we purchased the W Atlanta-Buckhead through the fund in 2017. Over the past year and a half, we completed a $20 million renovation on the property, which we finished earlier this year. The overhaul gave the hotel back its luster, restoring it as a bold, artful and luxurious destination for travelers.
Something much less luxurious was my first job in the hotel business. I got my start in the industry when I was 16, working as a dishwasher at Hyatt Regency Dallas—the hotel my dad, John Scovell, founder of Woodbine, developed with Ray Hunt in the late 70s. After that experience serving alongside several wonderful people (some of whom are still there), I no longer see a hotel as a place to stay, but rather a people who serve.
After high school, I went on to Texas Tech University, which is where my two older brothers went and where my dad and mom met. Upon graduating, I was fortunate enough to work for the Trammell Crow Company in Dallas for about five years. I later headed off to the Graduate School of Business at Stanford, although I am pretty sure I was an admissions mistake!
After grad school, I finally joined Woodbine in 2011 to open the West Coast office in LA and launch our WLI acquisitions platform. We have 35 team members in all, and my brother King and I work together on determining the strategic direction of the company as co-managing partners. King is also our chief development officer, and he focuses on every asset that our construction team is involved in. Meanwhile, as chief investment officer, I focus on how we structure deals from a capital stack perspective.
As most in our industry would suggest, the hospitality business is a fun industry to be involved with. While we are a real estate-focused company, every hotel is an operating business, so the complexity is much greater than some of the other forms of real estate. Perhaps most important, at least for me, is the fact that we get to create places where people want to be—and we get to be integral in how people connect, whether that be for commerce or leisure. This could not be truer of the W in Buckhead. Buckhead is one of the most important business centers in the Southeast—and it also has an enormous retail presence that has transformed Buckhead into one of the most sought-after destinations for leisure travel. It just so happens that the W brand is intended to cater to that very mix. We are a business traveler-driven hotel throughout the week, but the hotel transforms into a fun, vibrant, leisure hotel on the weekends… I guess it also helps that we have the only rooftop bar in Buckhead (Whiskey Blue).
Outside of the office, I’m a husband and father of four. I’m passionate about supporting public education and providing opportunities for underprivileged North Texas high school graduates to attend college through our family’s foundation, the Scovell Scholarship Foundation. I’m also actively involved with the Young Presidents Organization and several Los Angeles-based ministry organizations.
Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
Obstacles and Challenges on the W Atlanta-Buckhead Project:
– It’s not easy getting across the country to focus on a project that is two time zones away.
– During our closing, Marriott was moving forward with the acquisition of Starwood, so that was a very challenging process to navigate.
– Anytime you are renovating an older building, there are unforeseen conditions that will arise. We had to work closely with our consultants on the ground and with the city of Atlanta to ensure that we were delivering a product that would meet the expectations of our customers.
Please tell us about Woodbine Development Corporation – what should we know?
Woodbine Development Corporation is a full-service real estate company with more than 45 years of development, investment, acquisition and asset management experience. Based in Dallas, Woodbine specializes in hotels, resorts, and mixed-use/office, with a portfolio featuring select-service and full-service properties with major and independent brands. You can learn more at www.woodbinedevelopment.com.
Any shoutouts? Who else deserves credit in this story – who has played a meaningful role?
– C+TC Studio of Atlanta as the architect and interior designer for guest rooms and the hotel’s rooftop bar, Whiskey Blue
– STUDIO 11 of Dallas as the interior designer for the lobby, public areas, and meeting space
– Genoa Construction as the general contractor
– Chris Veal and Lela Brunet, the Atlanta artists whose work brings the bold, local art scene to life inside our hotel
– Our partners at the Gerber Group, specifically Principal and CEO Scott Gerber and Whiskey Blue GM David Schweitzer
Image Credit:
Courtesy of the W Atlanta Buckhead
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