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 follow$25k into a small hotel LP two years ago. 96 keys, limited service, sponsor with three prior properties. I did what I thought was careful diligence, which for me meant reading the…
Four assets in the fund. Two leisure-destination properties in a drive-to market, two select service boxes near a mid-size airport. My check was $75k into a $60m equity raise, so…
Hotel repositioning fund, four assets, my position was $120k. I read the LPA before I signed and I read the quarterlies, which is more than most people do and clearly still wasn't…
First deal after a very long analysis stage, and the thing that broke was the one I'd modeled most confidently. 104-key extended stay, secondary market, bought at $9.5M with a $2.…
Closing 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…
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-…
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…