Hospitality
We focus on the acquisition of existing full-service hotels that can benefit from enhanced branding and management, renovation and repositioning of hotels in need of capital, and adaptive reuse of buildings suitable for conversion to hotel use.
We believe that the lifestyle hotel segments offer some of the best investment opportunities in hotel real estate as a result of a combination of growing consumer demand, more flexible marketing, operational, and renovation standards, and opportunities for outsized performance improvement due to inconsistent execution by inexperienced owners and operators in this niche.
We acquire hotels at a meaningful discount to replacement cost in an effort to ensure that our all-in cost basis provides a solid foundation for value-creation. We will also seek to redevelop at a discount to replacement cost, buying underutilized buildings at a fraction of their cost and utilizing historic tax credits and other incentives to offset redevelopment costs.