Real Hospitality Group Named Management Company for an Approximate Quarter Billion Dollar (Phase: I) Hotel Investment Fund Representing Only the First Phase of Hospitality Funding Ability
RHG to source deals and management for hotel investment fund in leisure destinations
OCEAN CITY, Md., May 22, 2013 /PRNewswire/ -- Executives at Real Hospitality Group announced today they've been selected to manage hotels to be acquired as part of a nearly quarter billion dollar (Phase: I) hotel investment fund. The partnership will expand the company into new destination leisure markets and develop assets in partnership with key executives of the fund. "The foundation of our owner partnerships and the match in our company values have created an ideal relationship that will expand the portfolio into new destination markets," comments Ben Seidel, President of Real Hospitality Group.
David Jagirdar and Amit Jagirdar, principals of Jagirdar Management (Atlanta, GA) are named as the oversight managers of the hospitality portion of this even larger private equity fund. The partnership of acquisition and management with RHG is ideal, as both companies share the same vision for growth and development and have flexibility to address the acquisition and asset operation process of this new equity fund. "We feel that Real Hospitality Group shares our vision and is focused to help us achieve our objectives with all aspects of these financial resources including the selection, due diligence, acquisition and overall management of hotels to be aggressively acquired," notes David Jagirdar. "Real Hospitality Group has a proven track record of performance that will bring immediate value to the sizeable portfolio of hotels."
This first phase of funding will target hotel assets in key leisure destination markets in the US. Hotels, resorts and both full and select service hotels are being evaluated to determine the best match to the acquisition objectives of the fund.
About Real Hospitality Group: Real Hospitality Group (RHG) is headquartered in Ocean City, Md., and comprises a team with more than 250 years of combined hospitality and travel industry experience. The Real Hospitality Group portfolio includes 39 hotel properties with an inventory of more than 5,350 rooms in gateway cities that include New York, Philadelphia and locations in Morgantown, West Virginia as well as Glens Falls, Montauk, New York and Ocean City, MD. The company is a recognized service provider for Marriott, Hilton, Starwood, Hyatt, Wyndham, and the Choice Hotels brands as well as a collection of unique independent hotels. RHG focuses on total service property management, revenue performance and business development for hotels, resorts and investment ownership groups. For more information, please visit the company website at www.realhospitalitygroup.com.
SOURCE Real Hospitality Group
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