Leadership

Meet the Chase Merritt team.

Chase Merritt brings together investment, development, and asset management leadership with deep roots in the Telluride region and decades of hands-on execution across hospitality, mixed-use, and operating real estate.

Chad Horning portrait

Founder & CEO

Chad Horning

Founder of Chase Merritt and a long-time Telluride-based investor and developer, Chad Horning leads the firm’s capital strategy, project vision, and operating approach across hospitality and resort-oriented investments. His background spans acquisitions, repositioning, fund deployment, and complex ground-up development.

He has led major hospitality and mountain-market projects from sourcing through capitalization, execution, and long-term ownership strategy, including spearheading the acquisition of Telluride Ski & Golf Resort while serving as President of Newport Federal.

25+

Years Experience

$1B+

Hospitality & Resort Projects

$300M+

Self-Managed Funds Deployed

Managing Director

Derek Hrzek

Derek brings more than two decades of investment and development experience across hospitality, mixed-use, office, retail, and industrial sectors. At Hines, he played a key role in the firm’s Asia Pacific growth, including opening the Shenzhen office and leading the acquisition of the pioneering APAC logistics asset that launched the regional platform.

His track record spans cross-border execution, institutional platform building, and disciplined transaction management across complex asset types and geographies.

20+

Years Experience

$1.5B+

Acquisitions & Developments

Derek Hrzek portrait

Director, Real Estate Development

Chase Horning

Chase brings nearly a decade of hands-on experience in real estate development, investment, and project management across hospitality, retail, office, medical, multifamily, single-family, affordable housing, and resort assets. At Chase Merritt, he leads complex ground-up and redevelopment initiatives across the Mountain West.

Prior to joining the firm, he worked for the largest affordable housing developer in California and has delivered projects in California, Utah, and Colorado while navigating some of the most demanding regulatory environments in the country.

10

Years Experience

$500M+

Managed & Developed

Chase Horning portrait

Financial Operations & Investor Reporting

Tracy Thomson

Tracy Thomson’s career in commercial real estate syndication of public and private offerings spans over forty years. Positions held have included Controller and Managing Director of an international real estate syndicator overseeing 1.4 million square feet of industrial buildings, Chief Financial Officer of a Real Estate Investment Trust responsible for investor and SEC reporting, audits, and financial forecasting, Chief Financial Officer and Operations Manager for a syndicator encompassing thirteen public and eleven private offerings of 24,000 investors, and Chief Financial and Chief Operations Officer of a tenant-in-common syndicator with eighty offerings of 3,000 investors comprised of various asset classes in excess of $1.5 billion.

Ms. Thomson has extensive experience in financial management and forecasting, all levels of reporting, audits, asset and property management, repositioning properties for peak performance, and investor relations.

40+

Years Experience

$1.5B+

Syndicated Asset Classes

Tracy Thomson portrait

Contact

Connect with the Chase Merritt leadership team.