The first new hospitality real estate transaction firm in a decade has opened in Boston. O'Connell Hospitality Group LLP will focus on the sale and financing of three- and four-star hotels, boutique hotels and resorts.

The new firm also will assist urban and suburban landowners with hotel development projects. James O'Connell, principal of the company, was one of the original members of New York-based Insignia/Hotel Partners, and played a role in increasing corporate-wide sales to more than $1 billion.