Private investment firm Starwood Capital Group and real estate and hospitality company, Adventurous Journeys Capital Partners (AJ Capital), have unveiled a new outdoor-focused hotel group called Field & Stream Lodge Company. Field & Stream is an existing American brand established in 1871.
Starwood and AJ Capital want to initially create approximately 20 to 25 hotels, first targeting US markets in close proximity to authentic natural experiences, including national parks, beaches, mountain and ski towns.
The new launch is focused on serving the growing market for affordable and authentic wild outdoor experiences. This demand is an effect of the pandemic which has been felt globally as many people used time in nature as a coping mechanism to deal with lockdowns and improve wellbeing.
According to Starwood and AJ Capital, the US outdoor recreation industry is thriving as a consequence.
With 120-140 rooms per site, the locations will be customised for families and outdoor enthusiasts according to the Wall Street Journal
Field & Stream's assets will be strategically located in markets where existing lodging options are lacking or outdated for modern consumer preferences.
Barry Sternlicht, chair and CEO of Starwood Capital, said: "As we’ve proven through our creation of W Hotels, 1 Hotels and Treehouse Hotels, among others, today's consumer has a strong desire to support brands that connect them with the outdoors.
“This initiative with Field & Stream will provide them with authentic hospitality experiences.”
Starwood and AJ Capital want to leverage their collective real estate acquisition, investment and development experience to ‘create a unique brand in a virtually undifferentiated segment’ that can scale rapidly. About Starwood Capital Group
Starwood is a private investment firm with a core focus on global real estate. The Firm and its affiliates maintain 16 offices in seven countries around the world.
The company is well-known for its former hotel, resort, residence and spa operator brand Starwood Hotels and Resorts which operated under the brands St. Regis, The Luxury Collection, W, Design Hotels, Westin, Le Méridien, Sheraton and more.
The company was acquired by Marriott International for US$13bn
(£10.7bn, €12.3bn) in 2016.
Starwood also manages Starwood Property Trust, the largest commercial mortgage real estate investment trust in the US. Over the past 31 years, Starwood and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. About AJ Capital Partners
AJ Capital is a vertically integrated real estate investment manager with a portfolio of hotels, multi-family apartments, creative offices, single-family rentals, retail and entertainment venues.
The company anchors developments in the core principles of hospitality, placemaking and residentially-inspired design.
AJ Capital encompasses more than 100 portfolio assets across 50 markets worldwide and owns and operates multiple brands such as Graduate Hotels, a collection of handcrafted hotels in university communities internationally.