A joint venture between TMGOC Ventures and Certares has acquired The Ray Hotel, Curio Collection by Hilton, a 141-room property in Delray Beach, FL.

The hotel, which opened in September 2021, features three full-service dining outlets, including a rooftop restaurant and bar, as well as a rooftop pool deck, an 1,800-sq.-ft. fitness center and an event space. The property is located within a mile of the city’s beaches and less than 20 miles from the Palm Beach International Airport and downtown West Palm Beach.

Glenn Alba, cofounder/managing partner, TMGOC Ventures, said, “We are delighted to partner with Certares in this milestone acquisition. Being headquartered locally, we have seen firsthand the rapid expansion of the Delray Beach market. The Ray was delivered at the highest quality, and we look forward to being great stewards of this gem of a hotel and delivering a top-notch lodging experience to both business and leisure guests.”

Sunju Patel, cofounder/managing partner, TMGOC, added, “The Ray is a bespoke property representing the best of both a city and beach escape in the highly sought-after market of Delray Beach. This acquisition further solidifies TMGOC’s ability to cultivate key relationships with premier brands and partners.”

“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/head of real estate, 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.”

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