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388 Ventures Acquires Callicoon Hills In The Catskills, Expanding Partnership With Life House

Jul 07, 2022•about 3 years ago

Acquiring Company

388 Ventures

Acquired Company

Callicoon Hills

Financial ServicesTravel And TourismSoftware

Description

Just as summer begins to heat up, New York-based real estate investment firm 388 Ventures has closed on the acquisition of Callicoon Hills, a boutique resort nestled in the Western Catskills. They have tapped tech-enabled management company Life House to oversee end-to-end operations, representing an expansion of their partnership in the Berkshires, where the duo acquired and repositioned three historic hotels into the newly relaunched Lenox Collection.

Company Information

Company

388 Ventures

About

388 Ventures is a real estate investment firm focused on regional leisure destinations across the United States, with an emphasis on hospitality assets with differentiated market positioning. 388 Ventures invests primarily in lifestyle boutique product in the upper-upscale and luxury segment, with in-house development capabilities to take on transformative renovations. www.388ventures.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed