Provenance Hotel Partner Fund I targets urban hotels with 100-300 keys in the top 25 primary and secondary markets in North America for a hold of ten years, plus extensions. PHPF I pursues full ownership, joint ventures, sliver equity and preferred equity deals that include approximately 60% leverage. All properties purchased by PHPF I are managed by Provenance Hotels.
In sourcing investment properties, Provenance Hotel Partners follows a multi-pronged strategy that includes:
Acquire existing hotels that are under renovated or underperforming where opportunities exist to apply Provenance Hotels’ redevelopment and management models to reposition the property within the market and improve returns.
Acquire existing buildings that can be converted to hotels through adaptive reuse projects.
Ground up development of new hotels in select urban locations.
Hotel 1000 Case Study
Sentinel Case Study