Thayer Lodging Group Completes Fifth Investment Fund 德尔住宿集团Thayer Lodging Group 完成第五只投资基金

Thayer Lodging Group, a privately held, real estate investment company, today announced the final closing of Thayer Hotel Investors V LP and a parallel fund, Thayer Hotel Investors V-A LP. With approximately $280 million in equity commitments, the new discretionary equity funds for lodging investments expect to selectively acquire between $600 and $700 million in hospitality assets over the next 36 months. Since 1991, the company has acquired approximately $1.8 billion in hotels and resorts. Funds V and V-A are the largest in the company's history.

德尔住宿集团Thayer Lodging Group 是一家私人控股的房地产投资公司，今天宣布募资完成 Thayer Hotel Investors V LP 和平行基金 Thayer Hotel Investors V-A LP。 凭借约 2.8 亿美元的股权承诺，用于住宿投资的新全权股权基金预计将在未来 36 个月内有选择地收购 600 至 7 亿美元的酒店资产。 自 1991 年以来，该公司已收购了约 18 亿美元的酒店和度假村。基金 V 和 V-A 是公司历史上最大的两只基金。

"Given the current economic environment, we are particularly gratified that more than 70 percent of Fund V investors also were participants in our previous funds," said Frederic V. Malek, Thayer's co-chairman. Historically, Thayer's funds combined have realized a 29 percent internal rate of return and a 2.6 multiple on invested equity.

“鉴于当前的经济环境，我们特别高兴的是，超过 70% 的 Fund V 投资者也参与了我们之前的基金，”Thayer 的联席主席 Frederic V. Malek 说。 从历史上看，Thayer 的基金加起来实现了 29% 的内部回报率和 2.6 的投资股本倍数。

Added Leland C. Pillsbury, Thayer's co-chairman and chief executive officer, "We believe the next few years will present the best hotel investment opportunity in a generation. Hotel cash flows are being dramatically impacted by record declines in revenue per available room (RevPAR) due to the worst recession since the Great Depression. The current credit market dislocations, combined with the severe deterioration in hotel fundamentals, will create a wide array of acquisition opportunities."

Thayer 的联席董事长兼首席执行官 Leland C. Pillsbury 补充说：“我们相信未来几年将是这一代人中最好的酒店投资机会。酒店现金流正受到每间可用客房收入创纪录下降的巨大影响（RevPAR ) 由于大萧条以来最严重的经济衰退。当前的信贷市场混乱，加上酒店基本面的严重恶化，将创造大量的收购机会。”

Fund V will employ Thayer's time-tested, value-add strategy of acquiring upper-upscale and luxury hotels that require extensive renovations, market repositioning, asset rebranding and operating cost reduction. Target acquisitions, primarily in markets with high barriers to entry, will be concentrated in the U.S. The company expects to source transactions from owners, management companies, lenders and brokers.

Fund V 将采用 Thayer 经过时间考验的增值战略，收购需要大规模翻新、市场重新定位、资产重塑和运营成本降低的高档和豪华酒店。 Target 收购主要在进入壁垒高的市场进行，将集中在美国。该公司希望从所有者、管理公司、贷方和经纪人那里获得交易。

"We don't anticipate that the U.S. hotel industry will experience a meaningful recovery until 2011, which will result in more assets coming to the market in the immediate future," said officer Bruce Wiles, Thayer's chief operating officer. "We expect the acquisition market to accelerate substantially in 2010 and intend to capitalize on our reputation for a creative, collaborative approach to working with lenders and owners to structure transactions where we can create value through our extensive lodging expertise, our innovations and creative strategies, and our strategic relationships with major hotel brands."

“我们预计美国酒店业在 2011 年之前不会出现有意义的复苏，这将导致更多资产在不久的将来进入市场。”Thayer 首席运营官 Bruce Wiles 表示 “我们预计收购市场将在 2010 年大幅加速，并打算利用我们在创新、协作方式方面的声誉，与贷方和业主合作构建交易，我们可以通过我们广泛的住宿专业知识、我们的创新和创造性战略创造价值， 以及我们与主要酒店品牌的战略关系。”

Jin Lee, Thayer's chief investment officer and managing director, noted that the company has an active pipeline that includes both asset acquisitions and equity recapitalizations. "In addition to traditional acquisitions, we are looking at opportunities where we can participate in recapitalizations and other structured equity investments. For quality assets that have debt issues, we can provide fresh equity to help facilitate a workout and restructuring of the debt and equity."

Thayer 的首席投资官兼董事总经理 Jin Lee 指出，该公司拥有一条活跃的渠道，包括资产收购和股权重组。 “除了传统的收购之外，我们还在寻找可以参与资本重组和其他结构性股权投资的机会。对于存在债务问题的优质资产，我们可以提供新的股权，以帮助促进债务和股权的解决和重组。 “

新闻来源：https://www.hospitalitynet.org/news/4044641.html