With the recent purchase of the Home2 Suites by Hilton in El Reno, Oklahoma through their millennial-driven hotel ownership company
Atlanta-based businesswomen Davonne Reaves and Jessica Myers celebrated a significant professional milestone this week.
The $8.3 million transaction, which was done in collaboration with Nassau Investments, made Myers and Reaves the youngest Black women to have ever co-owned a hotel under a major hotel network.
The property is the first purchase made by the Epiq Collective, a real estate firm run by Myers and Reaves that specialises in working with commercial properties.
“I never thought by the time I was 33 that I’d be a hotel owner, but I admit that it feels great to have accomplished that at this point in my life,” says Reaves about the career milestone to News Agency.
Making history in the process, well that’s just icing on the cake!”
The Georiga State University alums always dreamed of owning their own hotel property since their days together on campus.
Reaves worked her way up through the industry starting as a front desk agent for the Hyatt Regency Atlanta before progressing up the corporate ladder and later relocating to Boston.
“I would often see other hotel owners but they didn’t look like me. So that’s when I started on a 14-year mission to make a change,” Reaves told News Agency.
Reaves recounts the day telling her business partners about the property and how the date also falls on the birthday of her late grandmother who passed away one year ago this month.
“I told our team of investors that I wanted to own this hotel by February 6th. That’s my grandmother’s birthday and coincidentally it’s Jessica’s birthday too.
Knowing that I’ve done that, just gives me chills!” says Myers to News . “We’re so proud to bring that ‘Black girl magic’ to the commercial real estate industry; this is just the beginning!”
By forming Epiq Collective, an Atlanta-based commercial real estate investment firm, Myers and Reaves have acquired more than $14 million in commercial real estate assets.
The company’s main objective is to use a group strategy to aid investors in purchasing real estate projects that regular people might not have access to.
The absence of Black and female ownership and representation in the hotel sector was made known to Myers and Reaves, which inspired the ladies to set even higher goals for the future.
No matter how it appears, continue your committed course of action. Don’t let the level of your achievement be determined by your existing situation, Myers told Black News Agency.