DELRAY BEACH, Florida — The Ray Hotel, a 141-key meeting hotel in Delray Beach, Florida, was recently acquired by a joint venture between Certares, a global investment firm focused exclusively on the travel and hospitality industries, and TMGOC Ventures, a real estate investment firm based in Boca Raton, Florida, and Charleston, South Carolina.
The Ray, an acclaimed 141-room hotel that opened in September of 2021, is an urban retreat located in the heart of Delray Beach’s vibrant restaurant, arts, and cultural scene.
The hotel’s event spaces include a variety of courtyards, plazas, private dining and rooftop retreats. The Cube is a 2,230-square-foot room that can seat 140 for banquets and features a 1,360-square-foot rooftop space. Groups can also use the hotel’s rooftop pool deck, dining and bar area. On the ground floor, The Plaza is an expansive outdoor space with green turf for events.
The hotel’s three full-service dining outlets include offerings from Michelin-star Chef Akira Back and Campi Italian by New York-based Host Restaurants. Other amenities include a rooftop restaurant and bar, a rooftop pool deck, a fitness center and a modern event space. The Ray is located within a mile of the city’s award-winning beaches and a 25-minute drive from the West Palm Beach Airport and downtown West Palm Beach.
“Acquiring The Ray continues our thematic approach of investing in high-quality hotels in market pockets of high demand and low supply, which are poised for continued growth,” said Nolan Hecht, senior managing director and head of real estate at Certares. “We look forward to working with our partners at TMGOC to unlock additional value in what we view as one of the finest quality lodging offerings in all of Palm Beach County.”
Through this acquisition, Certares and TMGOC plan to use their expertise in the hotel and travel space to further deliver a unique and enhanced guest experience for The Ray Hotel guests.
For more information, visit therayhotel.com.
