DALLAS—Last week, Behringer announced the launch of Behringer Lodging Group LLC (BLG), a hospitality-focused joint venture that will be led by managing directors Matt Comfort and Jeff Burns. The JV will focus on acquiring and repositioning hotels across the country. Behringer CEO Robert S. Aisner recently discussed the company's new strategy and motivations with GlobeSt.com's Anna Caplan.

GlobeSt.com: What prompted Behringer to branch out into hospitality?

Aisner: Behringer has a long track record in the hospitality sector and this is a way to build upon our heritage in this space. 

GlobeSt.com: What are some growth areas/trends in the hospitality industry that the company hopes to capitalize on?

Aisner: Despite the re-emergence of hotels as a strong real estate asset class in major markets across the U.S., significant opportunity remains for capital-deprived properties in smaller markets to rebuild their operating performance. BLG's technical expertise, operating knowledge and institutional resources position it to strategically identify and address growth opportunities within the hospitality sector. We plan to focus on opportunities that are currently overlooked or misunderstood by the market due to size, location or complexity.  

GlobeSt.com:Will investments/activity occur predominantly in one area of the country? 

Aisner: The strategy is agnostic as it relates to geography, however, we believe our investment thesis may lead us to markets that are currently overlooked by the majority of domestic and foreign institutional capital.

GlobeSt.com: How big does the JV want to grow in terms of employees, offices, etc.?   

Aisner: The business benefits from the depth of resources provided by the Behringer platform which can accommodate significant growth. 

GlobeSt.com:How, if in any way, will this new direction impact the firm in general?

Aisner: Behringer Lodging Group is a natural evolution of the Behringer brand. It represents another example of the entrepreneurial spirit of the company and will complement our fund-based business. Ultimately, It will allow us to pursue hospitality transactions that may not fit the investment mandates of our public funds while diversifying our capital sources.