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A JOINT VENTURE between TMGOC Ventures and Certares recently acquired The Ray Hotel, Curio Collection by Hilton, a 141-room property in Delray Beach, Florida. TMGOC Ventures, a real estate investment firm based in Boca Raton, Florida, is led by co-founders and managing partners Sunju Patel and Glenn Alba. "The Ray is a bespoke property representing the best of both a city and beach escape in the highly sought-after market of Delray Beach," Patel said. "This acquisition further solidifies TMGOC's ability to cultivate key relationships with premier brands and partners." The Ray Hotel, which opened in September 2021, includes three dining outlets, a rooftop restaurant and bar, a rooftop pool deck, an 1,800-square-foot fitness center, and an event space, the companies said in a joint statement. The property is within a mile of Delray Beach and less than 20 miles from Palm Beach International Airport and downtown West Palm Beach.

Sameer Nair is now senior vice president of acquisitions and development for Atlanta-based hotel investment and management firm Hospitality Ventures Management Group. Prior to joining HVMG, Nair oversaw transactions worth more than $600 million as vice president of investments and capital markets for Delray Beach-based Kolter Hospitality, the company said in a statement. In a career span of 11 years, Nair has sourced and closed deals worth more than $350 million across Hilton-, Hyatt-, IHG-, Marriott-franchised hotels and also negotiated and restructured $1 billion of existing debt. "An industry expert with more than a decade of hospitality real estate experience, Sameer immediately brings a wealth of knowledge and industry relationships he's acquired during his decorative career thus far. His presence immediately augments and broadens our already strong bench strength, and we look forward to Sameer playing an important role in helping HVMG and our owners and investors achieve their growth goals," said Robert Cole, HVMG president and CEO.