Australian Pro-Invest Expands into Europe With New London Office
Main Photo: The Sydney Primus hotel,, shortly to become a Kimpton hotel, under Pro-Invest’s watch
Date: June 2021
Location: Sydney-based opening in London
Name: Pro-invest Group
No. of Keys: TBA
Who They: Pro-invest, the Sydney-based hospitality developer-operator-manager has opened an office in London to expand it’s investment activities into Europe. They have built an eight-strong team, led by former ADIA and IHG executives.
Alexander Garrod has been hired as MD overseeing the group’s origination and execution of hotel transactions. He will also be in charge of capital solutions and portfolio management strategies. Prior to joining Pro-invest, Garrod spent 11 years at ADIA, where he was portfolio manager responsible for hotel acquisitions in Europe and Asia.
Andrew Johnston, former CFO for hospitality for ADIA’s real estate division, has joined Pro-invest as their CFO for Europe. At ADIA he led the structuring and financing of $7.1bn of hotel investments and before that was with IHG for 18 years in senior roles.
Scott Wolfe, VP Investment Analysis at IHG for fourteen years. is Pro-invest’s new European Director of Investments. Norman Forsyth, also ex-IHG completes the team as Director of Architecture and Technical Services. Sabine Schaffer, MD at Pro-invest said “Pro-invest is eyeing opportunities in gateway cities in Europe, where we expect price dislocation in a region with strong fundamentals. Europe is running 12 months behind Asia in terms of recovery, and I believe the market is going to come back just like Australia”
Pro-invest will be making investment in Europe with capital from it’s separately managed accounts. Currently it is fundraising AUD500m Pro-invest Asia-Pacific Distressed Hospitality Fund.
Although Pro-invest’s portfolio is largely focused in Australia, the group’s founder and CEO, Roland Barrott had a track record of investing in European real estate, when priot to staring Pro-invest, he was the boss at London-based Stannifer Group, where he introduced the Holiday inn Express brand, with 15 UK hotels.
THPT Comment: Congrats to the Aussie Pro-invest group by pulling some top calibre industry veterans to open this London office. Look forward to some interesting moves.
First Seen: PERE
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