Hotel fundraising has been on the upswing during the covid-19 pandemic, with a notable increase in both the number of funds in market and the amount of capital raised.
As we reported in our hotel distress story last week, a total of 23 hotel funds seeking an aggregate $5.88 billion were in market as of March 12, according to PERE data. This was up 28 percent and 47 percent, respectively, from the 18 funds targeting $4 billion as of March 31, 2020.
The amount and percentage of targeted capital raised for hotel investments has also increased since the start of the covid-19 pandemic, with total capital raised being $3.14 billion for funds in market as of March 12, representing 53 percent of the aggregate equity sought for those vehicles. In contrast, a total of $1.53 billion, or 38 percent of the capital sought, was raised for funds in market as of March 31, 2020.
For further details on hotel fundraising, please take a look at our data snapshot below.