Bruma

Approach

Leveling the playing field between institutional and independent hotels.

There is a disconnect between the structured nature of branded hotels and the cultural relevance that independent hotels have in cities. Bruma aims to create projects that are rooted in the place that they are created with the same rigor that a renowned flag would. We think the difference between a forgettable hotel and one that holds value and relevance for decades lives in the details a model rarely captures, how a lobby feels at ten at night, how a room is actually laid out, how a building speaks to the place it was built in.

Range

From flag standards to full concept control.

Branded & efficient

Limited service, extended stay, and other branded product types follow strict standards for good reason, they work. Our role is to find where those standards leave room for improvement, in materials, in massing, in the small operational choices, for a building to still feel rooted, relevant and competitive.

Independent & expressive

When the asset allows full concept control, the work becomes building something that earns its place culturally, not just financially. Design, interiors, and operating model are developed together from the start, underwritten with the same discipline as any institutional deal.

What we do

Four disciplines, one point of view.

Underwriting & investment analysis

Institutional grade financial modeling.

Concept & development advisory

From program to long term operations in mind, with an owner’s lens.

Owner representation & asset management

Active oversight through design, construction, stabilization and beyond.

Acquisitions & capital structuring

Sourcing, structuring, and capitalizing deals across hospitality and mixed use real estate, with working knowledge of both U.S. and Latin American capital markets.

Projects

Selected work across the lifecycle.

Colombia · Costa Rica ~1,000 keys · 5+ properties

Capitana Capital Portfolio

A portfolio of 5+ branded properties totaling roughly 1,000 keys, spanning select service, full service and soft branded luxury projects in key Colombian markets with high barriers of entry, with additional potential projects in San José, Costa Rica. Assisted in the structuring, financial analysis and ongoing predevelopment of the projects.

Hudson Valley, NY Events-driven hotel

Hudson Valley events-driven hotel

Assisted a developer with the financial analysis of an events-focused hotel property in the Hudson Valley, New York. A complex development involving historic preservation credits and several types of capital sources.

Medellín, Colombia ~220 keys · wellness & retail

Luxury soft-branded hotel, Medellín

Acting as a consultant on the financial analysis of a complex soft-branded hotel in the tourist center of Medellín, Colombia. The property carries roughly 220 keys, some structured as branded condominiums, alongside a large wellness component and retail for sale.

People

The perspective behind the platform.

Photoupload tomas-buitrago.jpg Tomas Buitrago

Tomas Buitrago

Founder

My passion is hospitality, in all its forms, and I am in the pursuit of amazing hospitality whether in a roadside motel, a luxury hotel or a great restaurant. At the end, all of these have the same purpose, to make their guests feel like a million bucks. I have spent my entire career understanding how to bring these projects to life and to help them succeed.

My career spans construction, development, financial analysis and asset management of properties of up to ~$300MM+ in value in several US markets as well as LATAM. This has given me a broad perspective of the industry and a skillset that positions me to be involved in the entire lifecycle of a project, from conception to operations and disposition.

My experience is institutional. I started working for a renowned GC in the Miami, FL area, holding roles in preconstruction, procurement and project management, being close to the construction and management of complex assets. From there I got my master’s in real estate development from Columbia University in NYC and went on to work in hotel and multifamily development for a New York based real estate firm. I later underwrote hundreds of multifamily investment opportunities as an analyst for a firm based in Miami, as well as handling the asset management of all the portfolio properties and managed a diversified commercial and residential portfolio in NY/NJ for a family office type of owner.

Finally, I am an owner myself. I identified the opportunity to supply the LATAM market with branded hospitality assets in primary and secondary markets that are currently underserved and have large barriers of entry. I am in the process of co-developing several branded hotels in several Colombian markets as well as evaluating potential opportunities in other LATAM markets such as Costa Rica and Peru.

I hold a civil engineering BS degree from Florida International University, an MS in real estate development from Columbia University in NYC and a Certificate in hotel asset management and investments from Cornell.