KHP Capital Partners - Market Research Report
Company Overview
Name
KHP Capital Partners
Mission of the Company
To create long-term value through targeted investments in hotel real estate.
Foundation
- Year Founded: 2015
- Founders:
- Mike Depatie
- Joe Long
- Ben Rowe
Key People
- Mike Depatie - Founding Partner
- Joe Long - Managing Partner
- Ben Rowe - Managing Partner
- Jeff Stulmaker - Partner & Chief Investment Officer
- Judy Miles - EVP, General Counsel
- Matthias Kowalsky - SVP, Finance & Administration
Headquarters
101 California Street, Suite 980, San Francisco, CA
Number of Employees
No information is available
Revenue
No information is available
Company Focus
KHP Capital Partners is known for investments in lifestyle and independent hotels, enhancing hotel assets through branding, management improvements, renovations, and adaptive reuse.
Products
Spotlights
KHP Capital Partners has been involved in several significant investment projects, primarily focusing on lifestyle and independent hotel sectors. They have a holistic approach to upgrading and managing hotel properties to unlock their full potential.
Notable Projects
1. The Darcy Hotel
- Location: Washington, DC
- Keys: 226
- Strategy: Renovation / Repositioning
- Acquisition Date: April 2016
- Disposition Date: December 2018
2. Amara Resort & Spa
- Location: Sedona, AZ
- Keys: 100
- Strategy: Operations Enhancement
- Acquisition Date: June 2013
- Disposition Date: December 2018
3. Hotel Monaco
- Location: Philadelphia, PA
- Keys: 268
- Strategy: Adaptive Reuse
- Acquisition Date: October 2010
- Disposition Date: March 2018
Recent Developments
New Products Launched
No information is available
New Features Added to Existing Products
No information is available
New Partnerships
No information is available
Extra Information
Investment Focus
- Lifestyle & Independent Hotels: Focus on the emerging segments with the most promising investment returns.
- Primary Urban Markets & Select Leisure Destinations: Targets properties in high-demand areas with limited competition.
- Controlling Equity Position: Prefers full ownership or joint ventures, with equity commitments generally between $10 million to $50 million.
Investment Strategies
- Operations Enhancement: For properties in good condition needing management changes.
- Renovation / Repositioning: For well-located properties that need physical upgrades.
- Adaptive Reuse: Conversion of buildings for hotel use.
- Preferred Equity / Debt: Select equity and debt investments in high-quality assets.
- New Development: Developing new hotel projects where demand and supply dynamics are favorable.
Investment Principles
- Value-Add: Focus on more complex investments with potential for high value creation.
- Well Located: Prefer properties in high barrier-to-entry locations.
- Discount to Replacement Cost: Aim for acquisitions at a discount to replacement costs.
- Asymmetrical Risk: Seek investments with more upside than downside potential.
- Limited Competition: Source deals with limited competition directly.
- Moderate Leverage: Maintain leverage to manage risk and achieve target returns.
Funds Overview
The firm manages several funds with a total equity capital of over $1.25 billion invested across over 50 projects.
Fund Overview
| Fund | Fund Size | Vintage | Investments | Status |
|-------|-------------|---------|-------------|----------------------------------|
| KDOF | $146 million| 1997 | 10 | Fully Realized |
| KHP I | $157 million| 2004 | 13 | Fully Realized |
| KHP II| $202 million| 2006 | 10 | Fully Realized |
| KHP III| $203 million| 2013 | 10 | Fully Invested, Partially Realized|
| KHP IV| $210 million| 2016 | 5 | Fully Invested, Partially Realized|
| KHP V | $361 million| 2020 | 8 | Investing |
Contact Information
- Address: 101 California Street, Suite 980, San Francisco, CA
- Phone Number: 1 (415) 868-4888
- Email:
- General Inquiries: contactus@khpcp.com
- Investment Opportunities: deals@khpcp.com
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