Bay Street Capital Holdings ("Bay Street"), a Black-owned SEC-registered asset management firm, announces updated assets under management totaling over 480 million USD.
PALO ALTO, Calif., Feb. 9, 2023 /PRNewswire-PRWeb/ -- Bay Street Capital Holdings ("Bay Street"), a Black-owned SEC-registered asset management firm, announces updated assets under management totaling over 480 million USD. Across Black-Owned RIAs, this places Bay Street firmly in the Top 10s.
The firm's substantial growth is attributed to the team's focus on expanding into the hospitality industry. Their strategy focuses on owning and operating boutique hotels under the real estate brand, Resthaven Properties. The team focuses on properties that yield a reliable stream of income and predictable appreciation in prime travel destinations. Currently, the team operates a content house, Resthaven Los Angeles in Venice, CA, and a boutique hotel, Resthaven Tahoe, in South Lake Tahoe, CA.
Hotels have a wide array of complicated variables that create a wide dispersion of outcomes even across professional operators. How operators approach hospitality, dynamic pricing, marketing, and branding all play a major role in the overall performance of the underlying business. Bay Street's thesis was determined after exploring these variables and building a market thesis around the persistent shift in consumer travel patterns that were accelerated by COVID-19. Their goal is limited exposure to branded hotel partnerships. Instead, they are investing their capital along with like-minded investors so that Resthaven Properties becomes a household name through market expansion, exceptional hospitality, and a focus on the conscious consumer.
"Our Big Hairy Audacious Goal is to address the persistent unmet market demand across the $109 billion spent annually by black tourists on U.S.-based, leisure travel. Of the $109 billion, less than $1 billion goes to black-owned properties. We are aiming for Resthaven Properties to contribute an additional 2 billion in revenue, putting us firmly in the top 20 global hotel brands by revenue."
Bay Street notes that 82% of consumers want to support a brand whose values align with their own. By establishing an authentic brand that speaks directly to the next generation of travelers, the firm has experienced significant growth, twice ranking on Investopedia's Top 100 Financial Advisors list. Resthaven Properties benefited from Bay Street's existing client base of socially conscious investors and attracted several key employees to build a diverse and inclusive workforce built for the future of work. 75% of the team members are women, 66% of 1st-generation Americans, and 47% are under the age of 30.
About Bay Street Capital Holdings & Resthaven Properties
Bay Street is a Black-owned SEC-registered asset management firm with assets under management totaling over 480 million USD as of February 6, 2023. The firm invests "through the lens of history" in companies and entrepreneurs that it believes will outperform. The firm is supported by a cohesive group of united, long-term LPs and investors. The team has proven their ability to efficiently manage risk while driving sustainable growth. Further information is available at baystreetcapitalholdings.com.
Media Contact
William Huston, Bay Street Capital Holdings, 1 510-858-1921, [email protected]
SOURCE Bay Street Capital Holdings
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