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Huntsville, AL, April 04, 2019 (GLOBE NEWSWIRE) -- A first in Indian Country – six Native American Tribes have agreed to become limited partners in order to fully subscribe the Doradus Hospitality Fund I, L.P., a Delaware limited partnership (“the Doradus Fund”) for eight exciting new hotel development projects. Doradus Partners closed capital commitments for “the Doradus Fund” in excess of $80 million from the following tribes: Pechanga Development Corporation (an enterprise of the Pechanga Band of Luiseno Band of Luiseno Indians), Poarch Band of Creek Indians, Mdewakanton Sioux Community, and three additional tribes. Each Tribe is a limited partner in the Fund and together make up the Fund’s Advisory Board.
The Doradus Fund will provide the equity component to the development of eight branded, select-service hotels. The hotel projects are all in high growth markets, located in mixed-use developments across the southeastern United States offering diverse amenities and therefore significant barriers to entry. Approximately two-thirds of the total investment will go into the development of four hotels at Flamingo Crossings, located at the Western entrance to Walt Disney World, Orlando, FL. The hotel portfolio for the Doradus Fund includes the following:
Kristi Jackson, Chairwoman of TFA Capital Partners, who acted as financial advisor to the general partner, added “This is the first time we’ve seen tribes come together in a formalized Fund to sponsor coordinated off-reservation investment in a significant way – in this case with six nations. The model of tribes as limited partners has legs as diversification is front-and-center. As tribes expand, many are looking for proven experts to guide them with their strategy.”
Disney selected Yedla Management Company, Inc., an affiliate of Doradus, to bring select service hotel brands to Flamingo Crossings. In turn, Yedla called on a relationship they have built with the Poarch Band of Creek Indians to become their first and largest limited partner in the Doradus Fund. Poarch Creek was the spearhead in developing the Doradus Fund to be principally subscribed by themselves and other tribes nationally.
Srinath Yedla, President and CEO of Yedla Management Company and Manager of the Doradus Fund General Partner offered, “Our relationship with the Poarch Band goes back to 2012. They trust us as their hospitality partner to deliver solid opportunities based on strong fundamentals and surrounding market demand drivers. We have proven our ability to return consistent profits and value in each of the opportunities we have worked on together with them.”
The Poarch Band has a stated strategy of growing their non-gaming revenues, strategically investing in hospitality off-reservation. Poarch has worked with Yedla on many of these successful hotel projects and delivered this relationship as a validation of trust in the partner and projects.
Stephanie Bryan, Tribal Chair and CEO of the Poarch Band of Creek Indians said, “Our tribe has worked with Yedla over the past five years developing our hospitality strategy, and we are excited about what this Fund means for Indian Country. We are investing alongside other tribal nations with the guidance and access of these best-in-class hotel developers and proven management experts.”
DORADUS HOSPITALITY FUND I, L.P.
The Doradus Hospitality Fund I, LP – The Fund has been organized to provide its investors the opportunity to achieve potential regular distributions and potential long-term capital appreciation through planned investments in branded, select-service hotel properties throughout the Southeastern United States.
Yedla Management Company, Inc. (YMC)
YMC is an affiliate of the Doradus Fund’s general partner. Based in Huntsville, AL, YMC was founded in the mid-1980s to develop and manage branded hotel properties. Focusing on mainly Marriott and Hilton branded hotels, YMC earned top awards from Marriott recently as recipient of its coveted Horizon Award, which recognizes best of the best management companies in the Marriott network for companies of its size.
TFA Capital Partners – TFACP
TFACP is an independent investment banking firm focused in Indian Country. The company provides capital raising, strategic and financial advisory services to Tribes, their enterprises as well as to commercial entities that do business with Tribes. TFACP is headquartered in El Segundo, California, with an office in Charlotte, North Carolina.
Sharon Delmar Poarch Band of Creek Indians 2512535927 email@example.com