REAL ESTATE INVESTMENT competition She Has a Deal (SHaD) started a 10-city tour of U.S. cities to raise equity capital under the name “SHaD Prosperity Fund I.” The funds will support women-led hotel projects, a statement said.
The tour kicks off in Miami on Feb. 11 and will be open to small groups of qualified individual investors, family offices, small entities and trusts. Cities on the tour include Cleveland, Phoenix, Dallas, New York, Atlanta, Chicago, as well as Oakland, California; Louisville, Kentucky; and Washington, D.C. It will finish in the first week of April.
According to SHaD, each event will include a preview of the women-led hotel deals being pitched by participants in the 2022 She Has a Deal pitch competition.
“Launching SHaD Prosperity Fund I is the next logical step in the SHaD mission. Now that we have created a powerful platform to expose more women to hotel ownership and educate them about the process, I want to ensure that capital is available for the women to close their hotel deals,” said SHaD founder Tracy Prigmore. “This investment vehicle marries two of my passions: creating investment vehicles that open the doors of hotel investing to more people and increasing the number of women owning and developing hotels. The ability to create passive income for investors while leading social change is inspiring.”
Last year, the Castell Project, a non-profit mentorship and networking program for female hospitality executives, and SHaD launched a joint venture, Fortuna’s Table, to help women progress in their careers in the hospitality industry. Fortuna’s Table is an online community that will provide resources for potential hotel owners.
“Fortuna’s Table fosters hotel ownership within communities that traditionally have not had access to the investment side of the business by providing them with knowledge and resources that build confidence and accelerate their ability to take action” Prigmore said at the time. “The initial feedback we’ve received has been extremely encouraging. Already, this site is being used by women with successful careers in hospitality and in other industries, who have dreamed of owning a hotel, but didn’t know where or how to begin.”
Vinay Patel, AAHOA chairman and president of Fairbrook Hotels in Chantilly, Virginia, is on the advisory board for “She Has a Deal.” SHaD creates new pathways to hotel ownership and development for women through education, networking, and mentorship. The annual report from the Castell Project stated that more female executives took leadership roles in the industry.