VCM Global Asset Management Closes on the IPO of VM Hotel Acquisition Corp.
10 March, 2021
March 10, 2021 – VCM Global Asset Management (“VCMGAM”) is pleased to announce the closing of the IPO of VM Hotel Acquisition Corp., a VCMGAM sponsored SPAC focused on high quality located North American hotels.
Initial acquisition strategy is focused on benefitting from the unique economic buying opportunity created by the current pandemic. Growth plan to continue value-add hospitality acquisitions under more stabilized post-pandemic market conditions.
Our management team has significant experience in the real estate and hotel and resort property sectors and has both a good understanding of, and has done business with, many of the potential targets in the sector. We intend to focus on acquiring high-quality and well-located hotel assets located within North American markets which demonstrate both macro-driven growth trends and high barriers to entry. Following our qualifying acquisition, as owners, we intend to work to enhance the value of our hotels by implementing best-in-class asset management, retaining institutional hotel operators, and investing in our properties to optimize operating performance and to improve our shareholder’s return.
VM Hotel Acquisition Corp. Announces Completion of U.S.$100,000,000 Initial Public Offering (newswire.ca)