Alex Rodriguez is moving into the hospitality industry with a $650M venture
The 45-year-old is heading a hospitality fund seeking to acquire 20 hotels in North America and the Caribbean within the next three years
The fund will be repositioning its acquisitions under the Hilton brand
Rodriguez set up his own real estate firm in 2003, before joining the Yankees
He will be investing some of his personal fortune into the hotel fund
A-Rod said investing in hotels right now is a way to cash-in on a travel rebound once the coronavirus pandemic is under control
The hospitality industry has been hard-hit by the on-going COVID-19 pandemic