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Investment Fund III

Hotel Development Partners (“HDP”) is pleased to announce the opening of HDP Investment Fund III, LLC (Fund III). After the construction and redevelopment of 1,467 hotel rooms in Funds I and II, HDP has begun Fund III with the construction of a 155 room Residence Inn near the Mayo Clinic in Jacksonville, Florida. Fund III will continue HDP’s focus of creating value through the development and opportunistic acquisition of premium-branded select service hotels. NOI margins between 35% and 45% from proven brands will help provide unique returns on investment. With an investment horizon of between 5-6 years and IRR target above 25%, investors in Fund III can expect a similar return on investment as Funds I and II, once stabilized hotels are sold. As was the case with the first two HDP funds, Fund III units are priced at $500,000. The project is progressing on schedule and is expected to be completed in December 2020 with a Q1 2021 opening.

Fund III Portfolio

Residence Inn (Marriott) Jacksonville, Florida

  • Opening May 2021
  • 155 rooms

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