Hotels have become a powerful investment vehicle in recent years. Large brands like Marriott encourage diverse ownership and create programs to groom minority franchisees. Although the cost of entry is high, if you have the capital available, hotels and resorts in strategic locations have proven to be solid investments.
Our marketing team featured black owned hotels this week. While doing research, we were pleasantly introduced to 3 hotel moguls that own a large percentage of all black owned hotels, representing over 100 hotels across the country.
Robert L. Johnson
Sheila C. Johnson
Sheila C. Johnson is the founder and CEO of Salamander Hotels and Resorts. She is the former wife of Robert L. Johnson, and co-founder of BET. Salamander Hotels and Resorts is an independent, luxury brand with 6 amazing hotels in Florida and Virginia.
Norman K. Jenkins
Norman Jenkins is the founder and president of Capstone Development – a privately held real estate development company based in Washington, D.C. Jenkins held positions at Marriot and McDonald’s corporate before founding Capstone. The company owns over 20 hotels across the nation. His portfolio includes hotels from Marriott and Hilton Brands.