After not buying the Mets, Alex Rodriguez takes a turn at another disused entity: the hotel business.
According to the Miami Herald, A-Rod will invest in a $ 650 million fund to acquire and develop 20 hotels across North America and the Caribbean over the next three years.
The former Yankees star group hopes to take advantage of the industry’s economic problems caused by the COVID-19 pandemic, said Raoul Thomas, who runs a Miami-based investment company with which Rodriguez joins. alongside Adi Chugh, founder of the New York Maverick. Commercial properties.
His plan is to put the hotels back under the Hilton brand.
Rodriguez, 45, has invested in numerous businesses since retiring in 2016 from a baseball career that was hit hard by his relentless lies about using PED.
But perhaps no company was more ambitious than its offer with Jennifer Lopez’s promise to buy the Mets.
After months of chasing, the Wilpon family ended up selling the team to cover honcho Steve Cohen for $ 2.4 billion in September.
Rodriguez, who is also a baseball analyst at ESPN and Fox, and Lopez are reported to have a combined net worth of about $ 700 million.