Certares holds final close for first real estate hospitality fund
Certares, a global investment firm focused exclusively on the travel and hospitality industries, has completed the final closing of its first real estate hospitality fund, Certares Real Estate Holdings I with $284 million of equity commitments.
The fund’s strategy is focused on acquiring hospitality real estate assets in growth markets and gateway cities across the United States. Since its launch in March 2021, the fund has made investments in 10 hotels, investing approximately $228 million of fund capital in equity investments. Its acquisitions include the Sea Crest Beach Hotel in Cape Cod, Mass.; the Courtyard San Diego Downtown; and the EAST Miami.
"A targeted real estate strategy is a natural extension of our experience in travel and hospitality and provides another avenue for us to create value for our investors by capitalizing on our extensive industry expertise," said Greg O'Hara, founder and senior managing director at Certares. "COVID-19 caused unprecedente