Electra America Hospitality Group Takes a Bet on U.S. Hotel Renovations

Posted on 03/07/2022


Electra America Hospitality Group (EAHG) is a joint venture between Electra America, a real estate operator and capital provider, and AKA, a provider of long- and short-term luxury accommodations. The partnership is designed to capitalize on dislocation in the hotel industry. EAHG seeks to make money through the acquisition, renovation, and management of hotels assets with upside potential in major U.S. markets. Electra America Hospitality Group is in process of raising US$ 500 million.

Electra America is a partnership between The Lubeck Family and a subsidiary of Electra Real Estate Ltd., an Israeli company founded in 1972 and publicly traded on the Tel Aviv stock exchange. (TLV: ELCRE).

AKA is a division of Plymouth Meeting-based Korman Communities, Inc. In the 1960s, Steven Korman helped participate in the furnished apartment industry in the United States.

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