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Hospitality Management The Fortuna Way

Founded in 1984 by Morris Moinian, Fortuna Collection owns and operates a collection of independent boutique hotels, restaurants, and bars in some of the world’s most sought-after destinations. Headquartered in New York City, the privately-held real estate investment and hospitality management company continues to expand its geographic footprint, acquiring and developing new assets, often in tandem with selected strategic partners, throughout the U.S. and Caribbean.

Our History

1984-1990

1984 - Fortuna Realty Group founded with first acquisition, 1489 First Ave.

1985 - Acquired 1527 - 1529 - 1531 York Ave.

1985 - Acquired 1661 First Ave.

1986 - Acquired 1963 - 1695 and 1699 Lexington Ave.

1991-1995

1992 - Acquired Loews Paradise Island Hotel

1994 - Acquired The Wyndham Sugar Bay Resort, U.S. Virgin Islands

1994 - Acquired note on 60 Madison Ave.

1996-2000

1997 - Acquired the Chemists Club (52 East 41st St.) and redeveloped as Dylan Hotel

1999 - Sold Loews Paradise Island Hotel

1999 - Acquired 127 W. 28th St.

2000 - Dylan Hotel opened

2000-2005

2004 - Acquired former Hyatt Orlando Resort with entitlements to develop 4.4 million SF of mixed-use space outside of Disneyworld.

2005-2010

2007 - Acquired 129 W. 29th St. (100,000 SF office building)

2007 - Sold Dylan Hotel

2009 -  Hotel Indigo Chelsea opened

2010-2015

2011 - Sold Lower Harlem multi-family portfolio

2012 - Acquired the renowned Garden City Hotel, Long Island

2012 - Sold Upper West Side and Chelsea multi-family portfolio

The Team

With decades of experience in hospitality, real estate, construction, and investment banking, as well as an intuitive grasp of consumer travel trends, the Fortuna Collection executive team is uniquely able to assist hotel owners and developers manage their assets, and identify and capitalize on new opportunities.

fortunacollection about theteam morrismoinian

Founder

Morris Moinian

Morris Moinian is principal and founder of Fortuna Realty Group. Moinian began his business career in 1979 with the establishment of Chattanooga Manufacturing Inc. As president and co-founder, the company expanded to become one of the largest women’s apparel suppliers to big-box retailers such as Macy’s, Marshalls, JC Penney, and Sears. 

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At its peak, the company employed more than 100 executive members in offices around the world, including New York, Los Angeles, London, and Hong Kong. Under his leadership, the company grew both organically and via mergers and acquisitions of major competitors.

Moinian turned his attention to real estate in the 1980s, establishing Fortuna Realty Group in 1984 to acquire on-the-avenue or corner mixed-use assets with a geographic focus on Manhattan’s Upper East and West Sides. Under his leadership, the company continues to acquire, develop, and manage hotels and resorts in New York, Florida, the Bahamas, and the US Virgin Islands, often working in partnership with Wyndham Worldwide and Intercontinental Hotels Group PLC. His accomplishments include re-developing and operating the luxury Dylan Hotel, acquiring the historic Garden City Hotel in Long Island, and developing the first Hotel Indigo (an IGH brand) in Chelsea. In 2007, Mr. Moinian established Fortuna Funding NY, LLC to originate, acquire, and manage short- and medium-term mezzanine, bridge, junior/senior participation debt.

A savvy entrepreneur, Moinian opened Revolve, an indoor cycling studio brand, that has enjoyed success since opening in Washington, DC and Manhattan’s Union Square. As the established studios continue to build momentum, he plans to expand into additional locations. Moinian sits on the board of the Grand Central Partnership, Sephardic Society of Manhattan, Gray Matters Inc. @ Columbia University, and the USVI Tourism and Hotel Association.

fortunacollection about theteam ashishlall

Director

Ashish Lall

Ashish Lall is Director and Head of Acquisitions and Asset Management. Lall leads and oversees Fortuna’s M&A, Financing and Asset Management efforts. This includes evaluation, due diligence, acquisition and asset management of all real estate opportunities that the firm pursues.

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Previously, Lall was an investment banker at Cantor Fitzgerald and Credit Suisse, where he was responsible for securing equity and strategic advisory for real estate operators and private equity funds. Lall worked on numerous completed transactions to include M&A assignments, alternative investment funds and structured investment vehicles totaling over $1 billion in transactional volume.

Prior to his career in investment banking, Lall was an Officer in the United States Marine Corps and served on active duty for four years. He was deployed to Iraq, Qatar and Kuwait in 2004 as part of Operation Iraqi Freedom.Lall graduated with a BA in Economics and Psychology from Johns Hopkins University, earned an MBA from the University of Southern California’s Marshall School of Business and received a JD from Concord Law School. He is a licensed attorney in the State of California.

fortunacollection about theteam alanreich

Managing Director of Development

Alan Reich

Alan Reich is Managing Director of Development of Fortuna Realty Group. In this capacity, he is responsible for overseeing the overall development process and construction for the firm.

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Reich brings over 35 years of industry experience to Fortuna, with over 25 years as a senior executive at several leading development and construction firms. Prior to his role at Fortuna, he served as Executive Vice President for Project Development at RAL Companies, where he managed the development and construction of a broad range of hospitality, residential, commercial and retail development projects of over 2 million square feet. He is particularly experienced in overseeing the construction of luxury hotels, residential condominiums, commercial/mixed-use buildings, healthcare, and institutional, as well as public projects requiring extensive collaboration with city and state agencies. Among his most notable projects were the gut renovation of the historic Garden City Hotel, development of the Vail Four Seasons Resort, the Capella Telluride Resort, The Carlton New York, The Dylan, and 60 Thompson. In addition, Reich oversaw the $500 million residential development of One Brooklyn Bridge Park, a luxury condominium conversion with 400+ units and a multitude of other residential developments, including Loft 25, 15 Union Square, The New Yorker, and 199 Bowery.

fortunacollection about theteam robertgaeta

Chief Financial Officer

Robert Gaeta

Robert Gaeta is Chief Financial Officer of Fortuna Realty Group. As CFO, he is responsible for overseeing the financial aspects of the company’s operations. Additionally, he is an accomplished professional in the analysis and valuation of property and mortgage portfolios and property management.

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Prior to joining Fortuna, Gaeta served as Vice-President and Controller of The Carlton Group, an international real estate investment bank that specializes in equity and debt placement, merchant banking, principal investment activities and commercial and residential loan sales. Gaeta was responsible for managing the financial affairs of the company’s operations and asset managing its $500 million real estate and loan portfolio.

Gaeta has more than 25 years of experience in the construction and real estate industries and was formerly Accounting Supervisor for Turner Construction Corporation where he was responsible for supervising the financial affairs of over $250 million in on-going construction projects. Gaeta is a graduate of Baldwin Wallace College and is a licensed real estate broker and auctioneer and a member of the Construction Financial Management Association (CFMA).

fortunacollection about theteam ivotomulich

Vice President of Sales & Marketing

Vo Tomulich

Vo Tomulich is the Vice President of Sales & Marketing at Fortuna Hotel Collection. In this capacity, he is responsible for the organization's overall sales and marketing process and oversees its execution.

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Vo brings over 30 years of industry experience to the team at Fortuna. He started his career in 1987: After completing his studies at Manhattan College and the Suisse College of Hotel Management & Tourism, he took up a managerial position with the Hilton Woodcliff Lake and Pearl River. Since then, Vo's gone on to work for such illustrious brands as Four Seasons, Rosewood, Viceroy, Morgans, The Plaza, and Hyatt.

Over the course of his career, Vo's filled a number of roles, from Regional Director of Sales and Marketing to Director of Global Sales. He's driven conversions and boosted growth for a wide portfolio of properties — boutiques, branded resorts, and big-box conference center hotels included — and is a valuable asset to Fortuna.

fortunacollection about theteam andrewsimpson

Director

Andrew Simpson

Andrew Simpson is Director of Construction and Development at Fortuna Realty Group. Simpson is responsible for all new construction and renovation projects for the firm. His responsibilities include all aspects of development and construction, from preliminary design concepts and feasibility studies, supervision of project architects, engineers, interior designers and consultants, bidding negotiations, control of general construction throughout projects and final close out and sign off.

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Prior to Fortuna, Simpson worked throughout the tri-state area as a licensed architect, project manager and mechanical superintendent on commercial, residential and hospitality projects exceeding $500 million, with a principal focus on projects in New York City. Notable projects Simpson oversaw include the Element Hotel on 39th Street, the Doubletree Hotel on Stone Street and pre-construction coordination of the 634-room Marriott Hotel at 1717 Broadway. Simpson graduated with a BA in Architecture from Syracuse University and earned his architecture license to practice in New York State in 1995.