H : Can you explain how you have invested in and / or managed over US $ 200 million of hospitality projects ? PB : This number has grown over the last year , but consists of a range of projects from ground up developments to acquisitions and repositions to full asset conversions ( i . e . office to hotel ). Our hotels are located in California , Tennessee , Georgia and Mexico . We will be opening four hotels over the next 18 months and we are actively looking for more projects in key markets across the United States .
H : You have also invested in more than 30 early-stage startups . Can you elaborate ? PB : These investments were made through the TMC Group venture capital arm , Tamarisc , that my brother David and I started in 2014 . It is now managed by a dedicated team , but I remain an entrepreneur in residence and am on the investment committee . We invest in early stage , innovative real estate and real estate-related technology companies .
H : Does TMC Hospitality have investor partners ? PB : We have a range of investor partners from ultra-high-net worth individuals , to institutions , as well as national and local banks .
H : How is the portfolio performing ? PB : The portfolio is performing well , all things considered . We lost very little money in 2020 and are profitable thus far in 2021 .
H : How did you manage through COVID and how has it impacted the trajectory of the group ? PB : We never closed and that is largely due to the fact that our technology and operating platform enable us to run our
Philip Bates launched TMC Hospitality in 2016 with two new brands , Bode and Drift .