This entry treats hotels from the institutional capital-deployment angle: significant capital placed into hotel acquisition, development, and repositioning, often through funds or large operating platforms partnering with hotel management companies, to earn returns from the hotels' operating...
Log in to followClosing this one out after four years so I might as well write down what it actually cost. I came in as an LP for $200k out of a $6.4M LP raise, so 3.1%, on the conversion of an o…
I've been reading two hospitality fund decks side by side and they disagree about the most basic thing. One buys extended stay only, same brand family, secondary markets, and says…
A friend forwarded me a private placement deck for a hotel fund. Value-add, three assets, all limited service in secondary markets, one of them a repositioning where they're rebra…
Got an OM for a 110-key limited service hotel. Price is 9.9m, and then near the back there's a line that says "PIP est. 4.2m" with no backup at all. When I asked the broker about…
Posting this because I've mostly been the person asking what a first deal costs, and this one closed and I can show the whole shape of it. Sponsor was a regional operator with in-…
I've been reading two hospitality fund decks side by side for about a month, and they've pushed me into a disagreement I can't settle on my own. Deck one is all about segment and…
Committed $50k to a hospitality fund with a three-year investment period. The fee was 2% annually on committed capital during the investment period, stepping down to invested capi…
I've got a piece of a hospitality deal, small, and the sponsor sent a mid-year letter that's forced a question I didn't expect to be arguing about. The asset is a 132 key select s…
Working through a five-year hold on a repositioning, upper-midscale, 160 keys, secondary market with one anchor demand driver. The sponsor's base case has RevPAR growing every yea…
Co-invest slot next to a sponsor I've done one small industrial deal with, and this is bigger and further outside what I know. Numbers as sent: Upper-midscale, 118 keys, secondary…