Specialist hotel operating company, Resident Hotels, announced it has signed a franchise agreement with Marriott International to convert its four Sleeperz Hotels to the Four Points Flex by Sheraton brand. Following the purchase of a majority stake in Sleeperz Hotels by Mactaggart Family & Partners, the portfolio has been operated by Resident Hotels (also majority owned by the same family office) since November 2022.
The Sleeperz Hotels portfolio currently features over four hundred rooms across the four properties in Cardiff, Dundee, Edinburgh and Newcastle upon Tyne. The portfolio of midscale hotels is purposely located in the epicentre of their cities and close to mainline rail stations.
Resident Hotels’ CEO, David Orr said: “The acquisition of Sleeperz was made strategically, allowing us to diversify into the mid-scale segment and optimise our skill in operating city centre hotels thereby increasing our appeal to real estate owners as a specialist operator.
“Having reviewed the portfolio, the launch of Marriott’s new midscale brand proved timely, and we are closely aligned with Marriott International on establishing an operating platform from which we can grow this innovative, conversion-friendly brand, which is backed by industry-leading distribution.”
“This agreement underscores our abilities as specialist city centre hotel operators. The appeal of this new relationship was also for the potential it has for rapid expansion across the UK, which is in line with our plan for growth.”
“At Resident Hotels we believe that reputation is the most important KPI, and we are deeply committed to maintaining market-leading reputation scores, across the segments where we operate.”
“We aim to bring this expertise into the mid-scale market, driving superior returns for our investors by delivering a differentiated and high-quality experience.”
The hotels are due to complete the rebrand in 2025 and will undergo a series of renovations funded by the Sleeperz Hotels’ principal investors.
William Laxton, CEO, Mactaggart Family & Partners, added: “We have always seen great potential in this portfolio and are confident that the combination of the Four Points Flex by Sheraton brand and the proven operational expertise of David and his team at Resident Hotels will drive exceptional returns. Our strategic move into midscale is in recognition of a balanced risk strategy deploying our specialist operating company covering the market segments with the best return potential.”
Kate Wallin, Senior Director, Development, United Kingdom & Ireland, Marriott International commented: “We continue to see significant interest from developers and investors in conversion projects, as they look to leverage efficiencies and gain access to our well-established loyalty, distribution, sales and marketing platforms and global customer base. This is an exciting deal that highlights the growth we are seeing in the midscale segment across the UK, and we look forward to working with Resident Hotels whose capability and reputation as operators is proven.”
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