Pro-invest Group has opened a new distressed hospitality fund, focused on the Asia Pacific market.
The fund, known as Pro-invest Asia-Pacific Distressed Hospitality Fund III, is seeking to raise A$500 million ($386 million) from institutional investors, sovereign wealth funds and family offices.
Fund III will focus on acquiring hotels in markets with high barriers to entry and attractive supply/demand fundamentals. The fund’s investment strategy is not reliant on distressed opportunities, but its traditional value-add investment strategy.
Fund III also will include opportunistic investment targets outside of Australia and New Zealand, specifically Singapore, Japan, South Korea and Thailand.
“We are going through a period of significant economic and social disruption, but we remain confident that this is a temporary ‘bump in the road’ for the hospitality sector,” said Sabine Shaffer, managing partner at Pro-invest. “In this time of operational
