On October 24th, Team Datcher of the Cornell Baker Program of Real Estate, won 1st place in the inaugural She Has a Deal (SHaD) Hotel Investment Pitch Competition sponsored by Marriott and Hilton. SHaD was founded to create pathways to hotel ownership for women through education, networking, and mentorship. Team Datcher is comprised of Joanne Angbazo (Baker ’20), Kristen Collins (Baker/MRP ’20) and Lera Covington (Baker/MRP ’20). Their winning proposal was an adaptive reuse, Autograph Collection hotel project in downtown Detroit. The team has been working on this investment since December 2019. After placing in the semifinalist round in March, the team had to make major adjustments to their financial assumptions and development programing to ensure that the project was feasible in a post-COVID environment.
Team Datcher was named in honor of Jane Eleanor Datcher, the first African-American woman to obtain an advanced degree at Cornell. Inspired by the pioneering spirit of their namesake, the team sought to develop a fresh and innovative hotel concept for the SHaD competition. For the 1st place prize, the team will receive $50,000 in deal equity towards their proposed project.
Editor’s Note: All of us at CREC wish the team continued success as they move forward in pursuit of their deal!