PROVO, Utah—Lodging Dynamics Hospitality Group announced its first acquisition through the company’s affiliated equity fund, LD Hotel Group I LLC. The fund is raising $60,000,000 to fund future acquisitions. The fund purchased its first hotel today, a 102-room Staybridge Suites in Omaha, Neb. Lodging Dynamics Hospitality Group owns and operates a TownePlace Suites in West Omaha and also has a Hampton Inn under construction in the same West Omaha market.
After more than two decades of successfully developing, managing, and owning premium brand, select-service and extended-stay hotels, the company decided to augment its growth strategy through hotel acquisition. “We are raising this fund to use as a tool to acquire existing hotels, converting hotels to premium brands and to accelerate the company’s growth,” commented Joel P. Sybrowsky, president and CEO of Lodging Dynamics Hospitality Group.
The fund proceeds are all going toward the acquisition of targeted U.S. properties that the company can use its proven management capabilities and its scale to improve the properties performance and toward properties that need capital in order to maintain its competitive advantage in the marketplace. The fund is acquiring Marriott, Hyatt, Hilton, and IHG select-service and extended-stay brand properties.
Paramount Lodging Advisors represented LDHG on its first acquisition in Omaha as a buyer-broker.