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Travel & Tourism
Provo — Lodging Dynamics Hospitality Group has made its first acquisition through its affiliated equity fund, LD Hotel Group I, LLC. The fund is raising $60,000,000 to fund future acquisitions. The fund purchased its first hotel, a 102-room Staybridge Suites in Omaha, Neb. Lodging Dynamics Hospitality Group owns and operates a TownePlace Suites in West Omaha and also has a Hampton Inn under construction in the same West Omaha market.
After more than two decades of developing, managing, and owning hotels, the company decided to augment its growth strategy through hotel acquisition. "We are raising this fund to use as a tool to acquire existing hotels, converting hotels to premium brands and to accelerate the company's growth," said Joel P. Sybrowsky, president and CEO of Lodging Dynamics Hospitality Group.
The fund’s proceeds are all going toward the acquisition of U.S. properties the company plans to improve through the input of capital.