Alpha Wave Investors has formed Soul Community Planet (SCP), a new company focused on holistic hospitality. SCP Hotels will be the first concept to debut under the new venture.
“SCP is founded on three core values: personal wellness (Soul), social connections (Community) and sustainable practices (Planet). These values will be applied to a range of holistic hospitality experiences, including hotels, resorts, restaurants, bars, marketplaces, recreation venues and fitness clubs,” said Ken Cruse, Alpha Wave founding partner and CEO, and SCP CEO. “Through SCP, our focus is on pure, hand-crafted experiences for people who want to make positive choices for themselves and for the planet.”
The first concept to debut from the new venture is SCP Hotels, which will open its first property, a 76-room hotel in Colorado Springs, Colo., on June 27 after a nine-month, $6 million renovation.
The newly renovated SCP Hotel Colorado Springs’ design is based on a clean “eco-industrial” aesthetic, which includes features such as living walls, hand-painted murals, new energy-efficient systems and solar power. The SCP Hotel Colorado Springs also includes a 12,000-square-foot health and wellness venue (the company’s first SCP Fit), a 2,000-square-foot social and co-working space, and a 1,000-square-foot market, featuring locally sourced organic produce and goods. The SCP Hotel Colorado Springs serves as a blueprint for future expansion for the SCP Hotels brand.
Alpha Wave Investors is a Southern California–based private equity investment firm specializing in multifamily and hospitality investments in the United States. The firm has acquired assets valued at more than $125 million to date since it was formed in 2015.
Led by Ken Cruse, former CEO of a $5 billion publicly traded REIT, as well as Jordan Fisher and David Sloan, Alpha Wave Investors targets opportunistic and value-add investments and conducts management through its in-house property management platform, Next Wave Property Management.
