The Power of Partnership: How We're Changing the Face of Hotel Ownership

In 2020, we etched our names in the annals of history as one of the youngest Black franchisees of a major hotel brand. It was a momentous achievement, a testament to our resilience, determination, and entrepreneurial spirit. But we didn't stop there. In 2022, we made history again by launching Vesterr , one of the first and only Black-owned crowdfunding platforms.

Fast forward to today, and we're proud to be part of another historic milestone. Vesterr has contributed to AJA Investments' acquisition and conversion of the Holiday Inn into a full-service Wyndham. This deal is historic in its representation of Black excellence and ownership. The hotel ownership group is Black, 97% of the investors are Black, the management company is Black-owned, the hotel broker is a Black woman, and the equity was partly raised through our Black-owned crowdfunding platform, Vesterr.

AJA Investments is a testament to the power of partnership and shared vision. Comprised of couples Norland and Dr. Dr. Amina Gilyard James , Richard and Janelle Howard, and Acquania Escarne , their journey began as limited partners. Today, the James are on their fourth hotel investment and second as a General Partner. Acquania is on her fourth hotel investment and first as a general partner, and the Howards are on their third and first as general partners.

Years ago, we embarked on a mission to create more Black hotel owners and investors. We're grateful that AJA Investments allowed us to be part of their hotel ownership journey. This is more than just a business venture; it's a movement towards economic empowerment and representation in an industry where we've been historically underrepresented.

Join us in celebrating this monumental achievement. Your congratulations and support fuel our continued efforts to break barriers and create opportunities for Black ownership in the hotel industry.

Davonne Reaves is a powerhouse serial entrepreneur. On the 5th and 28th of each month she shares articles on hotel ownership, crowdfunding, life and more. Her journey to successful business owner began when she founded The Vonne Group, the company for hotel consulting and asset management. On top of that, Davonne is a co-owner of three hotels, founding and leading her very own innovative commercial real estate crowdfunding platform called Vesterr and co-hosting hospitality podcast NextGen in Lodging. As tireless leader and mother of her son Jamir, it should come as no surprise she often finds exciting opportunities in hospitality.

Every month, she chooses two key dates to keep her readers happy: the 5th and 28th. On these general occasions, she delves into a variety of topics related to living life, such as tips for owning a hotel, different crowdfunding options, and lifestyle advice.

Do you need to raise capital for your next hotel or CRE project? Visit www.Vesterr.com

Are you looking to invest in hotels and other types of commercial real estate? Visit www.vesterr.com

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