Given that they are bringing Stephen Burt onboard, they see opportunity in the hotel space, and intend to build a significant hotel investment and operation platform - this may be yet another investment vehicle for the group. This would allow them to grow a hotel conglomerate and either flip it, sell it to one of their funds, or build a new fund around it.
Yes - terms would be nice, I'm sure they'll be forthcoming.
Ann: Group acquires 70% Interest in Hotel Capital Partners, page-4
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