ATLANTA—MODO Hotels, LLC entered into an agreement with Antares Investment Partners that will bring the global lifestyle hotel brand to major cities throughout the United States.
Under the agreement, the two companies will establish funding for the development of 10 MODO hotel projects. The goal is to raise $400 million in debt and equity financing. Funds will be used to acquire strategic assets and build full-service and select-service lifestyle hotels primarily in major U.S. metropolitan markets, according to the companies.
Among the targets are New York, Miami Beach, Washington, D.C./Dulles Airport, New Orleans, Kansas City, Chicago and Atlanta.
Noble Management Group has been appointed as the preferred management company for all future development in America.