They’re Top Players in Boutique Hotels. They See Power in Brands – and Hostels.
One of the most influential players among boutique hotels, Eagle Point Hotel Partners, didn’t set out in 2010 to sidestep the major global hotel brands.
“Our first deal, six months after we started, was buying all of the debt on the Mondrian Soho — it was a $155 million deal,” said Stephen Chan, co-founder of Eagle Point Hotel Partners. Chan runs an investment company focusing on hotel real estate, along with co-founder Erik Warner.
They eventually took it over, and four years later sold the 270-room property for $205 million.
Chan and Warner soon learned, though, that investing in big, branded hotels wasn’t their company’s mission.