Atlanta-based real estate investor Davonne Reaves continues to make waves in the hospitality industry with her 2022 acquisition of two additional hotel properties alongside Nassau Investments.
The new properties, a Staybridge Suites located in Fishers, Indiana, and a Hampton Inn & Suites in Scottsburg, Indiana, mark a significant expansion of Reaves’ real estate portfolio.
The Staybridge Suites, part of the Intercontinental Hotel Group, and the Hampton Inn & Suites represent a combined investment of $18 million, according to reports by Black News.
With these acquisitions, Reaves co-owns three hotel properties within just under a year. As the founder and chief hospitality strategist of The Vonne Group, Reaves has positioned herself as a trailblazer in the industry.
Reflecting on her achievements, Reaves expressed her gratitude, particularly as an African American woman breaking barriers in the real estate sector.
“For many years I never imagined that I could own a hotel and now I own three! It’s an indescribable feeling knowing that I am living my ancestors’ wildest dreams,” she shared in an interview with Black News.
Reaves brings over 15 years of experience in the hospitality industry to her role. Notably, she has assisted 50 hotel investors in getting started, with two of her protégés set to co-own hotel properties in 2022. Emphasizing the potential for generational wealth creation in the hotel ownership space, Reaves expressed her commitment to empowering others in the industry.
“I’m so attracted to this industry because the hotel ownership and investment space help create generational wealth,” Reaves explained. “It really is a tool to create wealth for yourself and your family; wealth lasts for generations, riches are just for today.”
Reaves, now 35, serves on the Cecil B. Day School of Hospitality Administration Industry Advisory Board at the Robinson College of Business, her alma mater, Georgia State University.
Her journey from a working-class background to becoming a hotel investor exemplifies her dedication and determination.
While Reaves never envisioned herself as a hotel owner, her collaboration with childhood friend Jessica Myers led to historic achievements. Together, they formed an ownership group primarily composed of millennials and partnered with Nassau Investments to acquire the Home2 Suites by Hilton El Reno, Oklahoma, as reported by Black Business.
Reaves’ remarkable career trajectory includes pivotal roles in event planning, restaurants, and hotels. In 2015, she embraced a transformative opportunity as an associate for CHMWarnick in Boston, the largest third-party hotel asset management company in the country.
