KHP Capital Partners Closes $361 Million Hotel Investment Fund
KHP will continue to acquire hotels that can benefit from enhanced branding and management, renovation and reposition hotels in need of capital, and adaptive reuse of historic buildings.
SAN FRANCISCO—KHP Capital Partners, a private real estate investment firm focused on acquiring and creating boutique and independent hotels, has closed on $361 million of commitments for its fifth discretionary real estate fund. KHP will continue to capitalize on the team’s deep experience in hotel operations and development, focusing on the acquisition of hotels that can benefit from enhanced branding and management, renovation and repositioning of hotels in need of capital, and adaptive reuse of historic buildings.
The company has an extensive track record with these strategies, including the recent renovation of the Doubletree Hotel in Washington, DC, which was relaunched as the Darcy Hotel in April 2017, and the transformation of the Hilton Key Largo into Baker’s Cay Resort, which re-opened in January 2019 as part of Hilton’s Curio Collection.
KHP was formed in 2015 by Mike Depatie, Ben Rowe and Joe Long as the continuation of a 15-year-old hotel real estate private equity business they started while leading Kimpton Hotels & Restaurants. Prior to the sale of Kimpton to InterContinental Hotel Group in January 2015, this team also oversaw the company’s hotel and restaurant management business.