Our Approach

We invest both solely, operating the acquired assets, and in partnership with real estate operators uniquely suited to the investments. We focus our investment activities on hotels and resorts; resort residential products; recreational uses; and new-urbanism and mixed-use projects. While active in other sectors, over the course of the past two decades our leadership has been recognized as being amongst the largest and most successful investors in the lodging and related sectors as well as being early trendsetters in value creation strategies ranging from the introduction of spas as part of integrated resort offerings and the introduction of resort fees, to operations outsourcing and the development of profitable new staffing techniques. Our team has also been early at employing similarly creative strategies in other real estate sectors including senior living. Importantly, we were among the earliest to capitalize on emerging trends over the course of multiple real estate cycles.

Target investments generally exhibit the following themes:

• intrinsic barriers to entry such as legislated and natural growth limitations and environmental restrictions;
  
• markets and assets with the potential to attract a diversity of demand as opposed to narrow customer bases;
  
• scarcity value resulting from unique property characteristics, reputation, positioning or clientele;
  
• assets that provide internal value-added opportunities as opposed to those where returns are predicated upon market growth or recovery; and
  
• complex situations that offer multiple value creation opportunities.