LOS ANGELES-Canyon Capital Realty Advisors and its affiliates,including Canyon Johnson Urban Funds, have launched a drive tointensify their hotel investment activities under managing directorRichard Bosworth, who joined CCRA 18 months ago. Bosworth, who hasover 30 years of experience in the hospitality industry, says thatCanyon foresees a high level of activity in the sector for Canyonover the next 24-36 months in markets including New York, Chicago,Southern California and Washington, DC, as well as cities withinthe Pacific Northwest, the Northeast and the Southwest.

Canyon is “actively evaluating hotel properties that are in needof recapitalization, especially in markets that enjoy a mix of roomdemand from both commercial and leisure travelers,” Bosworth says.The firm has established a focused hospitality team and is alreadyunderwriting numerous repositioning and reflagging opportunities,he adds.

Canyon is a value-added capital provider, providing debt andequity on particularly complex transactions. The firm's trackrecord in hospitality spans a diverse portfolio that includes theWashington Hilton, Hotel 71 in Chicago, W Austin Hotel andResidences and the Cal Neva resort in Lake Tahoe.