In addition to growing through direct acquisitions of well-located boutique hotels and vintage motels for conversion to the SCP brand, SCP is actively exploring debt investments, key-money or strategic partnerships with existing owners of well-located hotels and motels that have the potential to help bring the values of Soul Community Planet to new markets.

In conjunction with the new investment, SCP has formed SCP Hospitality, an integrated brand, management company and hotel owner. This structure will ensure effective oversight of all aspects of SCP’s culture and operations, while eliminating the inefficiency of typical third-party branding and management arrangements.

“The hospitality industry is currently enduring unprecedented distress, which, while painful, is opening new windows for innovation and providing growth opportunities for fresh offerings aligned with the priorities of modern consumers. Our goal is to provide win-win solutions for owners and lenders. We can do so by providing capital to solve debt issues and to fund renovations for repositioning existing hotels to the SCP brand, which in turn will drive growth during what we anticipate will be a powerful post-pandemic recovery beginning in the second half of 2021. By creating positive outcomes for lenders and hotel owners during this challenging period, we hope to build solid, lasting relationships and bring Soul Community Planet to new markets in the right way,” said Cruse.

Stifel, Nicolaus & Company, Incorporated acted as financial advisor and placement agent on behalf of Soul Community Planet.