OCEAN CITY, Md., June 3, 2021 /PRNewswire/ -- Blue Water Development, a premier real estate investment and outdoor hospitality management company, recently named Carl Kruelle as Chief Investment Officer. As the first CIO in Blue Water's 19-year history, Kruelle will be based out of Blue Water's corporate office in Ocean City, Md.
"I'm thrilled to be joining one of the Mid-Atlantic's best-known brands in outdoor hospitality at such an exciting time," said Kruelle. "The COVID-19 pandemic obviously had a huge impact on the travel industry as a whole, and I look forward to helping Blue Water continue its growth in the RV resort & campground sector as consumers discover, or rediscover, the great outdoors."
A graduate of the University of Delaware, Kruelle possesses over 20 years of experience in real estate investing, financing, asset management and capital raising. Prior to joining Blue Water, Carl was President of PEG Capital Partners, Chief Investment Officer of Roch Capital, Chief Lending Officer/Chief Credit Officer of Applied Bank, and President & Founder of Broad Creek Capital. While these positions have provided him with broad knowledge of all asset classes of real estate, his consistent focus on hospitality assets throughout his career made him the perfect fit for Blue Water.
"As the outdoor travel trend that began well before the pandemic continues to build momentum in its much-awaited wake, Carl couldn't be joining us at a better time," said Blue Water CEO Todd Burbage. "He brings a wealth of experience in and knowledge of the real estate investment sector to our team, and we know that he will help us continue to expand our portfolio in an aggressive yet strategic way."
In his new role at the company, Kruelle will manage all aspects of Blue Water's investments. This will not only involve continuously assessing and analyzing the performance of the 21 properties that the company currently owns or manages (plus 7 RV resorts and 4 hotels under development), but also supporting its strategic growth in the outdoor hospitality sector as a whole – with a particular focus on its rapid geographic expansion.
"Blue Water is undoubtedly in the business of making deals and so am I, so I can't wait to see what, or should I say where, is next," said Kruelle.
Blue Water specializes in transforming properties to upscale/luxury assets by primarily focusing its portfolio on already-developed properties, with growth potential, in desirable locations near a body of water and/or public park lands. Blue Water also has extensive experience in the entitlement and ground-up construction of resort hotels and RV resorts. Learn more about the Blue Water portfolio of hotels, RV resorts, and attractions at https://bwdc.com/portfolio/.
About Blue Water Development Founded by Jack and Todd Burbage in 2002, Blue Water specializes in investing, developing and managing RV resorts & campgrounds, hotels, and attractions. Blue Water's integrated approach to marketing, revenue management, and operations has quickly established itself as a hospitality industry leader. With two dozen resort-area properties in East Coast states from Maine to Florida, the Blue Water family is committed to creating elite assets, delivering exceptional guest experiences, and enhancing the communities we serve. To learn more, visit BWDC.com.