Creative structuring by female founders

NATIONAL REPORT – Most want in, but few hold the checkbook. The question is: how do you earn a meaningful seat at the table when you're not bringing the majority of the funding, a common reality, not a weakness, for many hotel developers?

For many developers, especially emerging ones, the path to hotel ownership starts not with funding, but with a value proposition: information, structure, and the ability to execute.

Women building, operating, leading assets

A group of women-led firms is using alternative capital stack strategies and network-based deal sourcing to initiate projects and secure positions in hospitality real estate transactions.

Founded in 2022, Female Founders in Hospitality (FFiH) is a community of over 200 entrepreneurs across real estate, technology, branding and operations. Members include alumni from Goldman Sachs, Host Hotels & Resorts, IHG Hotels & Resorts, Starwood and Kerzner.

Though each founder leads her own firm, the network acts as a shared platform for deal flow, learning, and collaboration, and includes a real estate subset. Some own or operate projects ranging from 900-key hotels to 20-key boutique assets, as well as corporate housing and hostels.

These founders may not have large corporate teams, but bring sharp strategy, deep experience and a network of capable partners.

“Getting deals done in this environment is tough,” said Leah Murphy, founder of Jane Hotel Group. “But inside FFiH, we’re not waiting for perfect conditions. Each of us runs our own firm, and the network gives us space to share opportunities, test ideas and move forward. Many of us focus on projects others pass over - assets with complexity, character, or untapped potential. We’re approaching deals differently, through creativity, structure, and execution.”

Tracy Prigmore, founder of TLTsolutions and She Has a Deal, and a hotel owner and developer, underscored the stakes: “Ownership is the new glass ceiling.”

Her message to those entering the space: Understand the numbers and speak the language of finance. “Take on more risk than you’re comfortable with if you want to get ahead,“ she said. “I wish I had taken more risks earlier in my journey. The future of hospitality needs our vision and our voice.”

Securing position through creative structuring

Personal liquidity and limited balance sheet constraints remain challenges, but these women are finding ways in. Some are backed by success in other sectors and rely on traditional debt, equity or friends-and-family networks. Others have considered SBA programs and women-focused investment funds. These avenues come with trade-offs, but they reflect a broader shift: structuring around capital rather, not waiting for it.

• Co-GP agreements
• Sweat equity contributions
• Entitlement-stage value creation
• Staged capitalization
• Cost reimbursement for predevelopment risk
• Multi-asset pipeline positioning
• Friends-and-family capital, crowdfunding or syndication
• Women-focused investment vehicles

“These mechanisms allow developers to create value and earn equity without putting up the majority of capital,” said Trica Jean-Baptiste, FFiH member and founder of Morgensheer Hospitality, which connects capital with development.

She noted that family offices and private investors prioritize relationships and referrals. Many developers are sourcing funding through curated networks, investor events and targeted advisory boards.

Land, process, local knowledge as currency

Investors are increasingly willing to enter at the land stage, where pricing risk is lower and design flexibility is greater. Developers who can unlock value through entitlements, approvals, and early-stage partnerships are positioning themselves ahead of vertical financing.

“Access to land is a strategic advantage,” Jean-Baptiste said. “But it must be paired with a credible execution plan and pipeline.”

She highlighted rising demand for niche product types - wellness resorts, branded villas, and private clubs, where operating partners contribute strategy, relationships and member networks.

In today’s climate of cost volatility, developers who deliver value through entitlements and early-stage structure, not just cash, are offering compelling investment frameworks.

Execution as proof of value

“Getting that first deal is the game changer,” said Robin Zeidel, founder of Zeidel & Associates P.C., a hospitality transactions law firm. “At some point, regardless of gender, you’ll have closed one on your own.

Execution, not identity, becomes the proof of value. Credibility comes from capital fluency, repeatable systems and a clear strategy.

Lan Elliott, an industry leader and principal of Acacia Hospitality, agreed. “Find the deal. Know your niche. Know your value. Advocate for it,” she said.

Clarity and control, not just capital, are how competitive positions are built.

Contributed by Amanda Staerker, principal, Allée Boutique Design & Development, Miami, Florida

The views and opinions expressed in this column do not necessarily reflect the opinions of Hotel Investment Today or Northstar Travel Group and its affiliated companies.