May 20, 2020
Wayfarer will work with Pegasus Capital, a private equity property fund, to expand their portfolio of hotels across Japan
Wayfarer Hospitality, the tech-first modern accommodations brand, has signed a Strategic Cooperation Agreement with Pegasus Capital (‘Pegasus’) to work together in expanding across Japan.
COVID-19 has severely impacted the travel industry and caught many traditional accommodations operators unprepared. Forward thinking property investors in hospitality are looking for modern solutions and operating partners who know how to navigate the new normal.
This partnership will allow Pegasus to have a turnkey operating solution for any hospitality assets they purchase in Japan, leveraging Wayfarer’s cloud operating platform.
“We’re extremely excited to partner with Pegasus Capital on our journey to drive digital transformation in the accommodations sector,” said Winston Chu, CEO of Wayfarer. “We’ve worked closely with Pegasus to understand their goals, which is to have a reliable tech-first turnkey operator that enables them to maximize the value of their investment. We’re ready to support Pegasus to grow their investment portfolio in Japan”.
Perry Tan, Managing Partner of Pegasus Capital, said of the partnership, “Pegasus Capital has ambitious plans to invest across Japan’s property market and a key strategy for us is in the hospitality space. Wayfarer is building a brand that is years ahead of anything we’ve seen and we’re looking forward to working with them on many projects to enhance the value of our investments”.