NEW YORK--(BUSINESS WIRE)--Hotel industry veterans Stephen Chan and Erik Warner announced they have formed Eagle Point Hotel Partners, LLC (“EPHP”), a New York-based hotel investment firm primarily focused on making opportunistic investments in hotel-related assets in North America. The firm has received financial backing from San Francisco-based Geolo Capital, the private equity investment arm of the John A. Pritzker family, and Joie de Vivre Hospitality, LLC.
Eagle Point will seek to take advantage of favorable market conditions to build a portfolio of hotel properties for its own account as well as undertake projects funded by Geolo Capital. The firm will target midscale, full-service and boutique hotels in primary and secondary markets.
“We are very excited to launch Eagle Point at this unique juncture in the industry cycle,” said Chan, who was previously with HEI Hotels & Resorts, one of the nation’s fastest growing private hotel owner/operators, where he was directly involved in the acquisition, development and sale of over $2 billion of hotel real estate. Prior to HEI, Chan was an asset manager of a $1.5 billion portfolio of full-service and luxury hotels at SCS Advisors on behalf of Walton Street Capital (www.waltonst.com) and JMB Realty.
In addition to backing the platform, Geolo has committed to make direct investments alongside Eagle Point and other institutional capital, including Asia-based capital sources that have developed a significant interest in U.S. real estate. Eagle Point will also leverage Geolo Capital’s partnership with San Francisco-based Joie de Vivre in utilizing its management services and expertise to invest in, reposition and extract superior operating results from its hotel investments.
“We look forward to working with Geolo and Joie de Vivre. Our complementary strengths will allow us to mutually achieve our growth objectives,” said Warner, whose last role was a principal and managing director at Ramsfield Hospitality Finance (www.ramsfieldrealestate.com), a partnership between Carval Investors (www.carvalinvestors.com) and RRE. During his tenure he was involved in over $325 million of hotel investments. Prior to joining Ramsfield, Warner was with Jones Lang Lasalle Hotels (www.joneslanglasallehotels.com) and HVS International (www.hvs.com).
Tom Gottlieb, managing partner at Geolo Capital, added, “The formation of this joint venture establishes a strong presence for our entry into the East Coast lodging market. We are thrilled to be partnering with such a dynamic and experienced team.”