Yotel Kicks Off $250M Fund To Spur $650M In Hotel Projects

Law360, New York (June 5, 2012, 5:41 PM EDT) -- London-based Yotel is partnering with Chicago-based real estate firm John Buck Co. to raise a $250 million private equity fund to help spur its goals of acquiring and developing $650 million worth of new U.S. hotels, it announced Tuesday.

The two companies will work together to identify and develop, or redevelop, properties and are already considering new projects in Boston and Chicago, they said. The fund, which is expected to close by early 2013 with the backing of several institutional investors, is just the latest step...
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