First Hospitality, Georgetown Co. form $1b hospitality platform

First Hospitality and The Georgetown Co. have formed a new platform targeting $1 billion of investment in upscale and luxury hospitality properties nationwide.

“We know that hospitality assets will inevitably see a strong rebound in the years following the pandemic, ultimately creating significant value for investors,” said Adam Flatto, CEO of Georgetown. “First Hospitality has a stellar reputation, and we are honored to partner with them as we launch this venture.”

While the industry has begun to recover from the pandemic, Georgetown and First Hospitality believe there is significant long-term growth potential for the industry moving into 2022 and beyond. In partnership with First Hospitality, Georgetown and its longstanding capital partners will direct $1 billion toward hotel investments and properties in areas throughout the United States.

Georgetown also will take a significant ownership interest in First Hospitality alongside Stephen L. Schwartz and