Fortuna Realty Group is a real estate investment and development company with a focus on hospitality and multi-family assets. The firm was founded in 1984 by Morris Moinian with its first acquisition, 1489 First Avenue. It has since expanded to other hotels and properties in Manhattan, as well as the Loews Paradise Island Hotel in the Bahamas (which it sold in 1999) and the Hyatt Orlando Resort. The firm has been particularly active in hotels, owning the Hotel Hugo and the Indigo Hotel Chelsea. In 2012 the firm purchased Long Islands historic Garden City Hotel for approximately $91 million, snagging the hotel from the Nelkin family. In 2015 Fortuna purchased the Wyndam Garden hotel in the Flatiron district for $60 million, outbidding other companies such as Bridgeton Acquisitions. Fortuna also has kept a presence in the Caribbean, owning the Sugar Bay Resort and Spa in the U.S. Virgin Islands.