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Bridlie Hospitality Forms $250M JV

PHOENIX-Bridlie Hospitality Management has formed a $250 million joint venture with a California-based private investment firm.

By Jennifer Duell Popovec | Updated on April 22, 2010

PHOENIX-Bridlie Hospitality Management has formed a $250 million joint venture with a California-based private investment firm.

Bridlie will invest the funds on behalf of the private equity firm, pursuing acquisitions of upscale, full-service and selected premium-branded hotels and resorts in major metropolitan and urban markets throughout the United States. Deals will range from $14 million to $75 million.

Bridlie declined to name its capital partner. “One of the non-negotiable issues we faced when arranging this joint venture was to invest their capital while ensuring the group remained anonymous,” says Shelley Rapier, vice president of sales and marketing for Bridlie Hospitality Management. “This particular group does not wish to be pursued by other organizations who are also seeking JV funding at this time, so our agreement with them includes a non-disclosure of their identity on a public level.”

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