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New York & Tri-State  + New York  + Hospitality  | 

Certares Closes $284M Inaugural Hospitality-Focused RE Fund 

Certares, a global investment firm specializing in travel and hospitality industries, has closed its first real estate hospitality fund, Certares Real Estate Holdings I LP, with $284 million of equity commitments.  

The fund focuses 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 invested in 10 hotels, including the Sea Crest Beach Hotel in Cape Cod, the Courtyard San Diego Downtown, and the EAST Miami, generating a net IRR of 35% and a 1.4x multiple on invested capital as of March 31, 2023.  

“COVID-19 caused unprecedented disruption across the entire travel industry,” said Greg O’Hara, founder and senior managing director at Certares. “As demand has returned robustly, hotels represent a category where investors who know the industry well can identify attractive assets.” 


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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

  • ◦Financing
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