Hilton and a Miami-based partner are planning to launch a $500 million fund to invest in distressed hotels in North America and the Caribbean, The Real Deal has learned. The hotel giant is partnering with private equity firm CGI Merchant Group to acquire about 20 properties in the next few years, said Raoul Thomas, founder and CEO of CGI Merchant Group. The venture intends to take advantage of the buying opportunities the pandemic has created.
source https://therealdeal.com/2020/08/19/hilton-and-cgi-plan-500m-fund-to-acquire-distressed-hotels/
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