Trailblazing Hotel Mogul Democratizes Commercial Real Estate Investing
At just 36 years old, Davonne Reaves has defied the odds, shattering glass ceilings in the hospitality industry.
The Atlanta native made history in 2020 when she became one of the youngest African American women co-owners of a major hotel property in the US with her acquisition of a Home2 Suites in El Reno, Oklahoma.
Since then, her portfolio has rapidly expanded, now encompassing three hotels across two states, with assets under management totaling approximately $30 million.
Vesterr: A Game-Changer for Hotel Entrepreneurship
However, Reaves’ ambitions extend far beyond her personal success. Driven by a mission to empower aspiring hotel owners, she has unveiled Vesterr, a first-of-its-kind crowdfunding platform dedicated to hospitality assets.
“We have our first deal and we’re halfway through the raise and there are a lot of first-time hotel investors in there,” Reaves stated.
“Some didn’t originally think it was possible because investment minimums can be so high. But this gives retail investors a chance to get into the space.”
Democratizing Access to Wealth-Building Opportunities
Unlike traditional real estate crowdfunding platforms with high investment minimums, Vesterr caters to both accredited and non-accredited investors, allowing individuals to invest as little as $5,000.
“I got my start in the industry working as a front desk agent and wanted to see more people like me in the hotel ownership and real estate ownership space,” Reaves explained. “This platform reduces the barrier to entry for folks looking to break in.”
Fostering Generational Wealth Through Group Economics
For Reaves, Vesterr represents more than just a funding source; it’s a catalyst for building generational wealth through the power of group economics.
“Even though we make up one in five hotel employees nationwide, the idea of investing in a hotel deal still feels out of reach or un-familiar to many African Americans,” she noted.
“I want to change that. To do so, we need to create a forum that familiarizes them with the sector while providing a robust, trustworthy platform that allows them pool capital.”
Expanding Horizons: From Hospitality to Diverse Real Estate Assets
While Vesterr initially focused on hospitality investments, Reaves has ambitious plans to expand into other commercial real estate property types. “Already, we are seeing investors on the platform expand their mindset around what they invest in,” she remarked.
“As their knowledge and balance sheet grows, we want to expand our offerings to grow alongside them.”
