Between 2011 and 2018, Simon provided Asset Management / Owner’s Representative services and specialist hotel investment advice to Canada Life in respect of their UK hotel positions - as Lender and Owner. Simon was retained firstly as Project Advisor, and then as Owner’s Representative in respect of Holiday Inn Walsall and Holiday Inn Cardiff North.
Those hotels opened in January 2012 and July 2014, respectively, following extensive refurbishment, re-positioning and re-branding exercises. Both hotels were operated by Kew Green Hotels under a Hotel Management Agreement (HMA), until their sale in 2017 and 2018, respectively.
Simon continues to provide ongoing hotel investment advice to Canada Life on their hotel lending and investment projects in London and the Regional UK.
Simon supported a round-one bidder on the Grange hotel portfolio. Four large conference hotels in central London were marketed during 2018 at an asking price of c.£1 billion. The bid process involved evaluating development and branding opportunities with the five largest global hotel management companies.
In 2018, Simon assisted a prospective purchaser of a small portfolio of branded UK midmarket hotels. This involved property tours and meetings with management, culminating in advice on bid price, potential income and return, and development and branding options.
During 2014/15 and 2017/18 Simon provided acquisition DD support to the successful purchaser of UK-wide portfolios of Jurys Inn and Hilton-branded hotels. This involved property tours and meetings with operational management, followed by individual asset appraisals, analysis of historical hotel and market performance, preparation of trading forecasts, and advice on development and branding options.
During 2016 and 2017, Simon has acted as Hotel Asset Management Advisor and Owner’s Representative for the Owner of Aloft Hotel Liverpool. This involved regular monitoring of the hotel’s trading performance, operational management (by Redefine BDL hotels, under an HMA), and property management.
A regular reporting format was devised and implemented for Owner and Lender. Additionally, Simon carried out ad hoc asset management actions, as required by Owner, in order to maximise / optimise hotel revenues and cash flows.
As part of EBRD’s Economic Growth Programme, Simon provided business planning support to a major property developer in Mongolia. The Mongolian entity will build a large mixed-use development, including the country’s first indoor water park, an international hotel, residential property, and various sport and leisure uses. During 2017 and 2018 Simon coached the development team in concept development, operator search, and business planning.
Simon supported an overseas investor in the acquisition process for a well-known luxury hotel, golf and leisure club in Stoke Poges, Buckinghamshire. During late 2017 Simon coordinated specialist surveys of the buildings, golf, and leisure facilities, whilst also advising the prospective purchaser on historical and current trading performance and future potential, plus operational, branding, and property development opportunities.
During 2012 and 2013, Simon acted as part of specialist advisory teams for one of the UK’s leading accountancy firms on two separate assignments commissioned by two major UK & Irish Banks. Each of these assignments involved reviewing options and providing asset strategy recommendations on two specific regional UK hotel portfolios.
The options that Simon and the team considered included potential changes of operational management and brand, capital expenditure, disposal, and retention. An operator selection process followed, involving negotiations with three of the main ‘white label’ hotel management companies.
During 2013 and 2015, Simon supported the acquisition and funding due diligence processes on the Jurys Inn, Somerston and Q Hotels portfolios. Acting as a sub-contractor, Simon conducted individual hotel appraisals and contributed to portfolio valuations.
In October 2014, Carlson Rezidor signed a hotel management agreement for a proposed Radisson Blu Hotel in Accra, Ghana. Simon advised the investor and developer on commercial terms and contract detail, contributing to the contract negotiations with Carlson Rezidor (now Radisson Hotels).
Acting for owners, developers and purchasers, Simon has conducted several hotel market studies and feasibility studies, leading to development advice and recommendations with respect to potentially successful hotel products, brands and operators.
Such studies have been conducted in Birmingham, Oxford, Bexleyheath, Hull, Dartmouth, Edinburgh, Glasgow, Heathrow, London, Southampton, Poole, The West Midlands, Cambridge, Colchester, and in the Canary Islands.
During 2013, Simon provided short-term hotel asset management services to Cedar Capital Partners, and to their hotel owners. He contributed to the asset management processes at Sofitel le Faubourg, Paris, and at Hôtel le Richemond, and Hôtel des Bergues in Geneva.
Simon assisted Patron’s deal team by providing bespoke market analysis and asset-specific evaluation of 41 UK hotels trading under the Ramada-Jarvis brand. In September 2011 Parton entered into a £111m joint venture with West Register to acquire a portfolio of 24 hotels, which were then re-branded Mercure, under a franchise agreement with Accor.
Strategic and specific advice on HMAs were provided over several months to Linstow in relation to 10 former Reval hotels in The Baltic States and Russia. Linstow wished to retain ownership whilst appointing an international operator.
Rezidor (now Radisson Hotels) was identified as the most appropriate hotel manager, and commercial HMA terms were agreed in a formal negotiation process. CMS Cameron McKenna provided legal services to Linstow and its parent company, AWilhelmsen AS. Contracts were agreed in April 2010.
Evaluation and investment appraisal for an unsuccessful bidder in 2010. Based upon market intelligence, trading data provided by the vendor, and the appetite and funding profile of the bidder, Simon advised the bid team on potential future trading performance, capital requirements, optimum operator profile, and likely return on investment.
Simon was retained in a sector specialist advisory role by one of the global accountancy firms in relation to major bank instructions on two separate distressed hotel portfolios: Jarvis Hotels in the UK, and 10 Hilton Hotels in Europe. The two reviews ran between October 2009 and February 2010 and involved reporting directly to syndicate banks as part of the accountancy firm's project team.
Acquisition due diligence and project management for the successful purchaser, Britannia Hospitality Limited (BHL). Simon was employed as a Director of BHL and managed the due diligence process for four months, including sourcing debt finance and the selection of Kempinski under an HMA. Simon provided investment and asset management services through to completion of the landmark £77.5m acquisition in September 2009.