Phoenixamericanhospitality Arvostelua 10

I’ve invested a lot of money with this company. They paid as advertised for a little over a year. Then they stopped paying altogether. They claimed that they were not making any money to be able to pay. I believe they were still making as much as when i started with them. They finally paid about $1500 on early March of 26. I had already lost out on about $70k so far. I have received no payment for March. I will probably need to get a lawyer. Don’t ever do any business with this fraud company.

This is an update to my review from December 2023 where I gave this company 5 stars. Since than my experience has gone downhill. Their .distribution rates started declining and stopped altogether mid-2025. Reason was a decline in the hotel business. February 2026 we were told distributions would resume. First we were told mi-Feb, then early March, mid-March, now end of March. I don’t know what’s worse, being honest with your investors and telling them distributions will remain on hold until business rebounds or moving that carrot on a stick over and over again for a .11% annualized distribution. Myself, I’d rather the company be honest with me. Currently their website is showing me a 42% unrealized gain. Is that the truth, hard to say but I’d like to believe it. If that’s the case, I wish they would just sell the portfolio and give us back our original investment plus the 42% gain and let us be done with it.

The SEC already investigated the company for fraud in the past. The company has had a bad reputation for cheating shareholders. Phoenix American Hospitality lured me into investing in the company and scammed me, and violated the False Advertising by using the Bait-and-switch scam and deceptive sales tactic. Real Estate Investment Trusts (REITs) like Phoenix American Hospitality is required to distribute 90% of the profits to the shareholders but the management is keeping the profits for themselves.

This company appears to be a scam. I leave messages and no return call backs. The investment checks quit 8/25/2025. I have over $300,000 retirement funds invested and still working as I had to pass on retirement until this gets paid as they promised.
Calling the Feds next week to file complaint and turning over to an attorney for collections.

Investor Beware! Phoenix American Hospitality is an illiquid investment, extremely complicated (see the hundreds of pages of legal documents) was recently investigated by the SEC, is absolutely untransparent in it's communication, the advisors are poorly trained and slow to respond and the CEO is not customer focused and is inflexible in allowing investors to leave this company.

I have made multiple calls and emails requesting to liquidate my shares in this REIT. I have not received one response over the course of 4 weeks. I think these people may have stolen my money.

They did not send me IRS Tax Form ''1099B'. Sent them an Email about it, got No Reply.
Connie is the Investor Services contact at the company, she never answers any of the Emails I sent her. When you phone her, you get an answering machine and No return call . This is no way to do business with Investors. Only Diego who runs the Investor portal answers the phone, but he has no IRS Tax experience and is not familiar with the IRS form 1099B.