After Alex Rodriguez doesn’t buy the Mets, he ventures into another swinging entity – the hotel business.
According to the Miami Herald, A-Rod will invest in a $ 650 million fund aimed at acquiring and developing 20 hotels in North America and the Caribbean over the next three years.
The former Yankees star’s group is hoping to capitalize on the industry’s economic woes caused by the COVID-19 pandemic, said Raoul Thomas, who heads a Miami-based investment company that Rodriguez has partnered with alongside Adi Chugh, founder. from New York’s Maverick. Commercial properties.
Their plan is to reposition the hotels under the Hilton brand.
45-year-old Rodriguez has invested in numerous businesses since he retired in 2016 after a baseball career largely tainted by his incessant lies about using PEDs.
But perhaps no venture was more ambitious than his bid with fiancé Jennifer Lopez to buy the Mets.
After months of chase, the Wilpon family sold the team for $ 2.42 billion to hedge fund honcho Steve Cohen in September.
Rodriguez, who is also an ESPN and Fox baseball analyst, and Lopez reportedly have a combined net worth of about $ 700 million.