13 hours ago
- Business
- Travel Daily News
Palette Hotels names industry veteran Joseph Yi Chief Investment Officer
Palette Hotels appoints Joseph Yi as CIO to drive investment strategy, portfolio expansion, and long-term growth across its national hotel operations.
NEW YORK, N.Y. – Officials of Palette Hotels, a nationwide, full-service hotel management company, announced that it has named industry veteran Joseph Yi chief investment officer. In his new role, Yi will oversee the firm's investment platform, grow the company's corporate-owned and third-party asset management portfolio and lead Palette's strategic growth initiatives aimed at enhancing the quality and scale of the company's portfolio.
'With cumulative experience in more than $4 billion in hotel-related transactions, Joseph brings deep expertise in sourcing and structuring complex deals, forming programmatic joint ventures, raising institutional capital and optimizing investment returns,' said Richard Lou, CEO, Palette. 'His leadership has consistently aligned cross-functional teams, capital partners, and operational stakeholders to deliver strategic value and long-term growth, making him the ideal candidate to expand Palette's portfolio as we continue to grow nationally.'
Over the past 20 years, Yi has gained experience in acquisitions, capital markets, asset management and strategic development. He previously held chief investment officer roles at Frontier Development & Hospitality Group and Real Hospitality Group. In his position with Real Hospitality Group, he played a pivotal role in the firm's expansion from 40 to over 100 hotels, launched its first investment vehicle in 2017 and directed over $100 million in lodging asset acquisitions. He also led the company's global expansion, establishing its first international venture in China. Prior to that, he was vice president of investments and general counsel at Lam Group, a prominent hotel development firm with more than 30 ground-up projects, and managing director of acquisitions with SHVO, a leading luxury developer in the United States. Yi holds a Juris Doctor from Brooklyn Law School and a Bachelor of Arts from Binghamton University. He is a member of the New York State Bar and serves on the board of the International Luxury Hotel Association – East Coast Chapter.
'Richard has done far more than simply assembling industry veterans – he's built a team that reflects the fresh thinking, diverse perspectives and cross-sector experience that the hospitality world needs right now,' Yi said. 'I'm thrilled to be part of a company redefining what it means to lead in this space.'
Palette Hotels is a full-service hotel owner-operator with a growing portfolio of hotels across multiple asset sizes and classes, from well-respected and internationally recognized brands to independent, boutique properties. The company currently owns and/or operates 25 hotels across nine states. With more than 800 associates, Palette Hotels creates value for its owners through a combination of operational excellence, cutting edge technology and a dedicated executive team with more than 150 years of hospitality experience combined. Palette was founded by hotel owners to provide first-hand experience to owners and investors seeking world-class operational expertise.
