Lodging Capital Partners Launces Financing Platform
Industry Veteren Ian Davis Tapped to Lead Effort
OCTOBER 1, 2008. Lodging Capital Partners, LLC (LCP) announces the formation of a platform which will provide debt, mezzanine and preferred equity financing for upper-upscale and luxury hotels. Initially, LCP plans to invest $250 million in this effort, and has recently closed their first purchase of an existing mezzanine loan in Hawaii.
'Given the current capital and economic conditions in the industry, we believe investing in this part of the capital stack provides our investors with the best risk adjusted returns,' said Steve Kisielica, Principal, Lodging Capital Partners.
Ian Davis joins LCP as a Principal in the new platform. Prior to joining LCP, Ian has had extensive experience in the hospitality banking industry, most recently as a senior member of Credit Suisse where he originated over $1.5 billion of financing in the sector.
According to David Sims, Principal of LCP, 'Ian has the unique experience of understanding hotel asset valuation combined with an intimate knowledge of structured finance.'
LCP will focus it's investment in the upper-upscale and luxury sector of the industry, ideally in major U.S. business markets and established resort locations. Investments will consist of a combination of the purchase of existing positions as well as the origination of new subordinated debt, mezzanine and preferred equity.
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