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Bosworth Hospitality Partners LLCs’, Founder and Managing Member Richard “Boz” Bosworth has over 40 years of experience in the hotel, casino, and restaurant operational management, and the commercial real estate capital market industries. With an accomplished career that began with the hospitality sector’s operational management, Richard evolved to the investment aspect of the business in the early 1990's as the lending community found itself managing a high volume of loan defaults secured by hotel and restaurant assets.
Directly structured and closed $7 billion dollars of both institutional debt and equity hospitality, and commercial real estate transactions.
- Provided hotel and casino loan work-out management and services to the Special Servicing industry through four market downturns.
To date, he has either operationally or asset managed 173 hotel investments, including four casinos and over 400 restaurants and bars on behalf of Private Equity Firms, Entrepreneurial Investors, and Institutional Lenders
Has managed the day to day capital market's operational platforms, ranging from 40 to 200 employees with full profit and loss statement responsibility. This includes both transactional originators and asset management professionals.
While employed by the largest third-party hotel and club operator in the United States (with over 100 hotels.) In 1987 Richard received the Food and Beverage Director of the Year Award and two years later (1989) was awarded the firm's Hotel General Manager of the Year.
Prior to recently forming Bosworth Hospitality Partners LLC a direct hospitality debt and equity investor, Richard was Managing Director-Global Hospitality at Canyon Partners a $23 Billion money management and private equity firm. Joining Canyon in 2008 he oversaw the Real Estate Division’s extensive multi-billion-dollar hospitality platform, with both acquisition and asset/property management accountability. This included investment oversight of the Canyon-Johnson Urban Fund Hotels (Canyon’s partnership with Earvin “Magic” Johnson).
Richard’s responsibilities were expanded in 2013 to oversee the portfolio of hotel and gaming assets worldwide across all of Canyon’s investment vehicles. Preceding oversight of institutional hospitality platforms and real estate investment programs, Richard spent many years in hotel and restaurant operational management, holding positions with Marriott Corporation, Servico Hotels and Resorts, and Tara Hotels.
He is often a featured speaker at the national commercial real estate and hospitality conferences and is a published author whose work the baseball fantasy novel The Box Seat Dream was New York WABC-TV’s “Book of the Week” in August 2000, and has been optioned for film. From 2000 to 2002, sales of the book were contributed to Little League Baseball’s Urban Initiative Fund which is dedicated to growing baseball in U.S. inner city locations.
Through the course of Richard's career, his experience has achieved some of the following highlights:
3753 Howard Hughes Pkwy
Las Vegas, NV
BHP BUSINESS INITIATIVES
Targeting Investments across the entire spectrum of the "capital stack" allows BHP and their partners flexible investing. BHP will not trade yield for risk, however, underwrites very difficult and comprehensive value-add hospitality projects. The mitigating of investment and operational pitfalls are their highest priority. While BHP and their partners target very large institutional hotel and casino projects, BHP also seeks GP equity investment opportunities in the smaller $2.5 million to $3.5 million range. This is an investment sector that has been severely underserved by private institutional financing sources.
Being mindful of where we sit today in the hospitality investment cycle, capital is uniquely positioned to invest in safer senior debt instruments as well.
Bosworth Hospitality Partners, LLC (BHP) specializes in the direct deployment of capital for both core and complex hospitality investments. BHP' not only brings capital but their expertise in complex structuring, underwriting and asset management of high-yielding, value-add hotel, casino and F&B investments. BHP's founder Richard Bosworth has a lifetime of institutional and entrepreneurial success in both the hospitality transactional, capital markets
and operational management arenas.
Bosworth Hospitality Partner’s approach to investment underwriting is quite simple. Bosworth creates strategic operator alliances with strong alignments of interest while targeting the most profitable mix of sales. Our value creation strategy is based on the simple hotel repositioning philosophy of converting hotel or casino revenue from the wrong sales mix to the highest and best sales mix. Whether that is changing an operation's reliance on OTAs (Online Travel Agencies) to a Brand's Marketing System or converting under-performing outlets to space leases, which not only improves cash flow but also lowers cost of debt capital and produces greater exit valuation multiples. BHP's deep industry relationships, provide their partner's risk mitigation in both operational performance and capital markets execution.
HOTEL, CASINO, AND RESTAURANT
HOSPITALITY & REAL ESTATE INVESTING