Beginning in 1993
in partnership with seasoned investors who recognized the opportunities presented by the downturn in the real estate markets, Red Bridge made a series of hotel property acquisitions. The first was the Pacific Shore Hotel, a 3-star property located in Santa Monica, CA, purchased from the money center bank that had foreclosed on its loan.
Throughout the 1990s and early 2000s Red Bridge and its partners continued to acquire hotels at prices that allowed for significant investment returns based on a turnaround strategy of renovation, repositioning, and sale. We executed on multiple transactions, each deal yielding investor profits well above market.
In 2020 Rick formed a new partnership with legendary hotel executive Tom LaTour, former CEO of Kimpton Hotels, to acquire properties as the hospitality industry recovers from the Covid-19 pandemic. The firm, Revio Partners LLC, is well positioned to take advantage of the disruption caused by the health crisis, consumer lifestyle changes, and shifts in demand for lodging. Revio has adopted the proven strategy of making acquisitions informed by our experience and local knowledge, replacing management, renovating, repositioning, rebranding, and selling once optimal value has been achieved.
Hotel flags represented in our track record of transactions include Kimpton, Hilton, Sheraton, Days Inn, Occidental, Crowne Plaza, Wyndham, and independent brands.