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MIPIM Top Investors A-Buzz with New 'IReNA' Boutique Hotel Fund - At MIPIM, Global Cities Hotel Fund, LP a €300 million fund confirms sponsorship from Starwood Capital Group for €30 million/€3 Million per each of ten hotel properties a new luxury boutique hotel flag, IReNA Town Club and Resorts - CamiGroupInc.com
MIPIM Top Investors A-Buzz with New 'IReNA' Boutique Hotel Fund

 

NewswireToday - /newswire/ - Cannes, Alpes-Maritimes, France, 2012/03/05 - At MIPIM, Global Cities Hotel Fund, LP a €300 million fund confirms sponsorship from Starwood Capital Group for €30 million/€3 Million per each of ten hotel properties a new luxury boutique hotel flag, IReNA Town Club and Resorts - CamiGroupInc.com.

   
 
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As the hotel business experiences one of the most opportunistic cycles in a generation, in Europe, US and Caribbean, a highly qualified team of hotel, finance and development partners have won the support of one of the world's leading hotel and real estate investors. Global Capital Hotel Fund (GCHF) agrees with Starwood Capital Group's new "IReNA Town Club and Resorts" primary focus of the fund. Global Cities Capital Associates, Ltd (GCCA), a jointly managed fund to be controlled by it's LP investors and Investment Committee, led by Mr. Clifton V.Onolfo, Albert DeVaul and Caroline Sarah De Rothschild focuses on city center locations in prime global cities and five star resort locations. Starwood Capital’s upscale five star hotel brand "IReNA" will over provide, a more personalized level of service, space per room and an ambiance style and design of warmth which is necessary to differentiate IReNA city and resort irreplaceable properties from the mega chain luxury hotels.

The senior management of GCCA has specific city, resort and boutique hotel building managing and fund management experience, including more than twenty plus years in Hawaii, Florida, Arizona, Europe and Asia. Global Cities Capital, Ltd have the confidence of the top executives of Starwood Capital from having worked together over many years and as this investment will aid in accelerating the Boutique Brands. Albert DeVaul's, Chairman of the Hotel Development and Refurbishments, experience in developing the top performing Four Seasons – Kona on the Big Island of Hawaii and the Hyatt Grand Champions Resort in Indian Wells (Palm Springs area), gives GCHF the human assets to support its allocation of capital needed to swiftly negotiate, buy distressed properties and develop them quickly within the window of opportunity. More recently, the management group has undertaken the financing, acquisition and re-development of a South Florida Hotel into a potential "IReNA" flagship property, to lead to a sister fund relationship between Starwood Capital and GCCA.

The GCCA executive team consists of:

Clifton V. Onolfo, CFA. Chairman and CEO. (Former Vice Chairman and Treasurer of Capri Global Capital the international affiliate of Capri Capital Partners, a $3.6 billion pension fund advisor); Columbia University, New York, NY. Oxford University, Math Finance Post Graduate

Albert T. DeVaul, Chairman Hotel Funds (the former CEO of IDG Resorts, a California based hotel development firm);

Gary M. Sills, Hotel Portfolio Director (the former Executive Vice President - Development of IDG Resorts); and

Caroline De Rothschild, Director and Legal and Investment Committee (an institutional banker and former Legal Team Member Multi National Private Investment Bank).

Eric Decator, General Counsel and Chief Compliance Officer. (the former Deputy State Attorney General and Manager of $16 Billion of State Pension Funds, Partner of Kaye Scholer and 20 years of GC Hotel and Real Estate funds Counsel.

Certain GCCA Executives and Advisory board members have built multi-billion advisory and institutional funds previously but are now creating a smaller, more focused fund to keep attentive active management and allocate funds quickly per the timeliness of the hospitality opportunity.

The GCHF strategy includes targeted sites in proven top global hospitality locations. Specific properties are in investigation and negotiation stages or under option which include; New York City, London, Paris, Singapore, Hawaii, St Martin, the Algarve, Phuket, Bali, South Florida, Scottsdale, India, Middle East and Cote D'Azur. Sponsorship and operational agreements with GCCA to protect your investment will be overseen by Starwood Capital Group's management, development and operational team, which should be the perfect combination for success.

If the GCHF fund and the emerging manager, Global Cities Capital, Ltd. interests your institution, insurance company, foundation, family office or HNWI client with a minimum investment of €30 million please contact us as quickly as possible for an introduction.

 
 
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MIPIM Top Investors A-Buzz with New 'IReNA' Boutique Hotel Fund

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