A-Rod Sees Big Potential In New Hotel Real-Estate Fund

A-Rod Sees Big Potential In New Hotel Real-Estate Fund

During the trying times of the global pandemic, travel restrictions were everywhere, forcing many hotels to rethink their business model in order to stay afloat. Thankfully, A-Rod hasn't given in to retirement, but seems to be taking on new ventures in hotel real estate. But can this save hotels?

Hotel Property: An Overview

The looming pandemic forced many business closings, with the hospitality business at the top. Hotels everywhere began to fail as people sought to stay at home for their safety.

Thankfully, this industry is soon to be revived, thanks largely to a group of well-heeled stars whose interests have now extended far into property ownership. A Miami investment firm has partnered with the legendary A-Rod of the New York Yankees to revive the hotel industry to its former state.

Hotel Investments: Hitting a Home Run?

A-Rod took his first chances outside of the arena when he began making investments in hotel real estate. His experience began in 2003 when he started his own business, Monument Capital Management. With a strong background in business, A-Rod had made his backup plan for life after baseball. He understood that any career in sports would be short-lived one and that another start in hotel real estate would bring him the revenue he needed for life. Yet the real reason lies in his humble roots.

Business and Baseball

Its one thing to be well-known for your record of home runs while making money off of your baseball talent. But business is business and it presents a different kind of needed skill set required. Those who grew up in humble means make the best minds in business, and A-Rod certainly was no exception. With a mother and two siblings, life was difficult. Not having a father around made matters worse as the family struggled to make it on their mother's minimum wage salary from a chicken restaurant.

Many Losses, Many Gains

Poverty can be a driving force that gets you up and working. With that in mind, A-Rod knew himself to be a bit of a visionary at a very young age. Watching himself and his siblings relocate several times with their mother was enough to make him envision himself as a future landowner. A-Rod's wish was that if he could have owned where they lived, they could have stayed. But such was never the case until he got into baseball as a youth. At the age of 17, A-Rod began his career with the Seattle Mariners as a short stop, and, with persistence, began to plan for his future. By the time he was 22, he invested in his first home, which was a duplex. A greater venture beyond sports was born.

Teaching An Old Pro New Tricks

Through the years, A-Rod learned the tricks of the hotel real estate trade by experience. He learned under the tutelage of his good friend Warren Buffet, among others. He also enrolled in a business program at prestigious schools such as Stanford just to sharpen his expertise. He soon founded the A-Rod Corporation, which held investments in a variety of new, online businesses. He then went on to create Monument Capital Management and Newport Property Construction, both of which specialize in property development and management. Both companies oversee family and hotel units, and have grossed over $1.5 billion in revenue.

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