Caliber announces launch of Caliber Hospitality Development

Caliber announced the launch of Caliber Hospitality Development, a joint venture between Caliber and GIA Hospitality. CHD will serve as the exclusive development platform for Caliber’s opportunistic hospitality investments, with a focus on acquiring distressed hotel assets and developing extended stay hotels in high-demand markets. The joint venture was seeded with an initial $2M investment from GIA and is supported by Caliber’s integrated real estate services, including development, construction, finance, and asset management. CHD will operate independently under the Caliber Hospitality brand. CHD’s investment strategy is centered around two core initiatives: Distressed hotel acquisitions – Identifying and acquiring underperforming or mismanaged hotel properties at significant discounts to replacement cost, with the goal of repositioning them for improved performance and long-term value creation. Ground-up extended stay development – Building in markets with favorable supply-demand dynamics, beginning with the recently announced, two Hyatt Studios developments in Scottsdale Arizona, and Georgetown, Texas. The venture is led by Izhak Ben Shabat. In addition to pursuing new projects, CHD will evaluate strategic investments that provide a potential competitive advantage, including innovations that reduce construction costs and improve execution efficiency. CHD is actively seeking relationships with hotel owners, brokers, developers, banks, financial institutions, and receivers who have distressed hospitality assets or high-quality extended stay development sites.