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OFFICIALS OF THE "She Has a Deal" annual hotel investment pitch contest announced the five teams selected to advance to the final round of SHaDPitch 2023.
The competition allows early career women to compete for the prize of $50,000 of equity in SHaD's Prosperity Fund I, following the conclusion of a virtual,
preliminary round of pitching, SHaD said in a statement.
SHaD 2023 will be held at the new Marriott Headquarters in Bethesda, Maryland, on April 27 to 28. According to the statement, the goal of SHaD is to increase the
number of women owning and developing hotels. It provides participants with the ability to source, analyse, raise capital and close hotel real estate investment
deals.
During the preliminary judging round, eight teams comprising 15 participants pitched their hotel investment acquisition or development projects live on Zoom to a
judging panel of hotel business executives, entrepreneurs, and investors. The judges evaluated and selected the following five teams:
Sydney Young and Rachel Nicholson with SpartanStone, graduates of Michigan State University, pitching a La Quinta Inn & Suites in Lewisville, Texas.
Chandler Williamson with Chanders Core Commitment, graduate of North Carolina Central University, pitching a Hilton Garden Inn in Raleigh/Durham, North Carolina.
Isabella Suffredini, Veronica Lewis and Alexandra Neoman with CROWN, graduates of Cornell University, pitching a TownePlace Suites in Houston, Texas.
Makenna Price with Hookipa Hospitality, graduate of Washington State University, pitching a Fairfield Inn & Suites in Ft. Lauderdale, Florida
Allison Busch and Hannah Takekawa with AH Hospitality, graduates of San Diego State University, pitching a Staybridge Suites in Austin, Texas
"Every year, I grow more encouraged that we are making an impact," said Tracy Prigmore, founder of SHaD. "These are brilliant women who benefit from the education
and programming that SHaD provides, and their hotel investment acumen has grown by leap
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In a cutthroat market, to keep going - every business needs to have a competitive edge over contenders. The scenario in the Hospitality and tourism sector is nothing different, where lot of players can be seen battling for customers and for the bigger market share.
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However, with the change in market scenario and entry of new players (and the trend is continuing), the customers have the power and they are the ones that have the final say in everything. In such a scenario (in an exclusive buyer's market), it becomes imperative for Hotels (companies) to be flexible in/with their approach towards customers.
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A JOINT VENTURE between NewcrestImage and Hospitality Capital Partners recently acquired 16 hotels for $137.3 million from Service Properties Trust, a
Massachusetts-based REIT. The deal includes a total of 2,155 rooms in nine states.
The portfolio consists of 13 Courtyard and three Residence Inn hotels by Marriott hotels, which are in Georgia, Massachusetts, New York, North Carolina, Oklahoma,
Pennsylvania, South Carolina, Texas and Virginia. Eleven of the properties underwent major renovations between 2018 and 2019, the company said in a statement.
"This transaction suits our company's style of strategically acquiring properties with strong fundamentals, especially during times of a difficult or slowed down
economy," said Mehul Patel, managing partner and CEO, NewcrestImage.
"It's an opportunity for our joint venture with NewcrestImage to add revenue immediately, while also growing long-term profit potential and asset value," said HCP
principals Keith Mishkin and Primo Parmar.
The transaction was handled by Al Calhoun and Mark Fair at CBRE in Atlanta.
"Closing this transaction was particularly satisfying given the size of the deal and the challenges we're facing in the debt markets," added Al Calhoun, vice chairman
with CBRE Hotels in Atlanta. "We were able to complete this transaction by breaking it up into three deals with three different lenders. These lenders had great
confidence in the sponsorship and the quality of the brands and markets."