The Refinishing Touch Blog

It's no secret that the current economic climate is in rough shape. However, as the economy downturns, there becomes an opportunity for investors to look at new ventures as a result of the credit crisis and the global economic slump. It's the time to invest when property prices are coming down and this is also the case for commercial property such as hotels.

The future of three major hotel brands, Marriott, Starwood and Hilton, were strengthened this week, despite the current state of the hospitality industry, when the announcement of Fairwood Capital LLC, a hotel investment fund was announced. Three hotel industry gurus, Ed Ansbro, Robert Solmson and Richard Reiss will serve as the hotel investment fund's principals. The news definitely breathed new life into the future of each of these hotel brands since they will be the initial focus.

It was reported that Fairwood's partners and two institutional investors contributed $150 million in equity of Fairwood Hospitality Investors LLC. They will maintain offices in Memphis and New York City.

The company's investors project the company having a possible $300 million in equity over the next few years. Plans also include even further economic contribution with outside hiring for property management. It will be interesting to see what time of changes are made with Fairwood's investment. Could that mean more renovation projects? Opportunities for contractors as well as hospitality management?

Given the hospitality industry's role as a key player in the health of the economy, Fairwood's announcement comes as news of a much anticipated movement toward positive, profitable change.

Undoubtedly, Fairwood's establishment will mark the beginning of a trend that will keep development and prosperity on the horizon for the hotel industry. We here at The Refinishing Touch are looking forward to the stimulus that Fairwood strives to achieve.

Labels: economy, Fairwood Capital LLC, Hospitality