US: Los Angeles based development and hospitality operating company Palisociety has introduced a recovery fund for boutique and independent hotels.
The fund is designed to help sub-100 key hotels recover from the effects of the global pandemic.
Palisociety is aiming to help those hotels in dominant markets gain access to recovery capital as well as the resources of the larger company. This will help those properties quickly and effectively stabilise hotel operations, mitigate further operational losses during the crisis period, and successfully relaunch during the recovery period.
Avi Brosh, founder of Palisociety said: “Over the next six to 18 months, hotels will need to rely upon strong brand recognition, smart and novel marketing and revenue strategies, and nimble financial structures in order to succeed in the mid-term and regain the confidence of travellers. The Palisociety relief fund offers the capital, cost effective resources and operating models, and national visibility to enable the speedy recovery and future success of these properties.”
The fund also hopes to reposition properties in the Palisociety family of properties post-recovery. Palisociety will offer:
- Design, branding and service standards to raise RevPar
- The recognizable branding of the group
- Nimble and Flexible operations standards
- Access to its press channels and social media
The Palisociety brand has been featured across many major global publications and operates many award winning properties from 33-96 rooms. Most recently, the company opened two new locations in Miami beach and San Francisco at the end of 2019.
