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A private family office with investments in hotel, commercial and residential assets in the Middle East and Continental Europe.
What did Hotel Solutions Partnership achieve for the client?
Our analysis determined that the state of the building fabric was very poor and the redevelopment would entail stripping back all the internals to take the building back to shell and core, before rebuilding it as a hotel.
We provided a simple analysis indicating a range of property prices based on the location and recently completed sales of comparable hotels. From this we deducted the estimated development costs and miscellaneous purchase costs to determine a reasonable bid price for the Property. We recommended that the client not pursue the acquisition
The client, represented by its London-based Chief Investment Officer, has been endeavouring to acquire a hotel in London for many years. The Client was offered a vacant former residential property with planning consent for conversion to a hotel and required advice on the acquisition.
The client approached Hotel Solutions Partnership (‘HSP’) for a desktop study to advise on the viability of converting the property to a hotel. HSP was asked to calculate the economic worth of the potential target asset given the capital expenditure required for the redevelopment.
Scope of Work
Our team undertook desktop research only due to the quick turnaround required for bid deadlines. Our study included the following :