JET Hospitality has acquired two hotels in Wyoming and launched a new boutique hotel brand in the US.
The company has acquired The Historic Virginian Hotel in Medicine Bow and the Park Motel in Powell.
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It plans to renovate and reopen these two hotels as the first locations of the new JET MOTOR INN brand in June to August 2024.
In addition, JET Hospitality is sponsoring a $5m syndicated real estate fund, JET Growth Fund.
The fund, made available to accredited investors, will invest in new acquisitions and support development across the Rocky Mountain Northwest.
The Historic Virginian Hotel is home to Wyoming’s oldest bar, the Shiloh Saloon, and is set to undergo renovations while preserving its century-long legacy.
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By GlobalDataJET Hospitality intends to enhance the guest experience at the Historic Virginian Hotel with new food and beverage offerings, including a café, supper club, and fine dining, alongside a Cowboy Cocktail menu.
JET Hospitality CEO Jesse Baker said: “We are excited about the acquisition of The Historic Virginian Hotel in Medicine Bow, which was once the largest hotel between Denver and Salt Lake. JET Hospitality is proud to carry on the 100 plus years of ownership legacy passed on from the Scott Family.
“Our acquisition of the Park Motel in Powell will open doors and provide a launchpad for our new JET MOTOR INN concept, another JET BET speculating that an outdoor travel company can crossover into the boutique hotel segment and compete in markets where franchise brands are the only players.”
The newly introduced JET MOTOR INN brand represents JET Hospitality’s expansion into the boutique hotel market. This brand will offer a unique blend of retro and modern amenities, targeting a wide range of travellers.
The locations will be strategically placed along historic routes and interstate corridors such as the Lincoln Highway and I-80.
JET Hospitality is leveraging its JET 360 Model to deliver customisable experiences in prime locations across the US.
