EVT’s Strategic Acquisition of Pro-Invest Hotels Enhances Hospitality Operations

Long-Term Management Agreements Encompassing 15 Hotels

EVT Limited, through its third-party management sector EVT Connect Hospitality, has recently announced a significant move with the acquisition of the Pro-invest Group’s hotel management company. This transaction is poised to shape the hospitality landscape across Australia and New Zealand.

The agreement involves long-term hotel management arrangements for 15 hotels, totaling approximately 3,200 rooms, that are currently operated under various third-party brands. The Pro-invest Group will maintain its asset management responsibilities for these hotels owned by its investment funds via a dedicated fund management platform.

Coinciding Aspirations for Growth

Established with a clear vision, Pro-invest Group has demonstrated prowess in developing, launching, and managing real estate assets, expanding its portfolio to 30 hotels across these regions. According to Ronald Barrott, the founder and chairman, the company’s objective has consistently revolved around delivering high-quality, resilient assets that cater to the changing demands of contemporary travelers and investors. He emphasized that the ongoing focus will remain on hotel asset management, while also navigating rapid growth within sectors such as flexible living, build-to-rent (BTR), and mixed-use developments. Barrott believes this partnership with EVT is advantageous not just for investors but also for the workforce, aiding in EVT’s growth ambitions.

Jane Hastings, the chief executive of EVT, echoed this sentiment, stating, “The establishment of EVT Connect Hospitality, bolstered through the acquisition of Pro-invest Hotels, signifies a robust strategy to enhance hotel revenues. This initiative signifies EVT’s enhanced capacity to provide value to asset owners interested in franchise agreements under third-party brands, underpinned by PIH expertise and supported by our extensive EVT Group proficiency.” The anticipation of integrating the PIH team into the EVT Group is high.

Additionally, Steve Carroll, head of hotels and hospitality at CBRE, conveyed that this acquisition is a game-changer for the hotel operational landscape within the Asia-Pacific region. He noted, “EVT Connect Hospitality is set to empower operational effectiveness across hotels and is a model successfully implemented in regions like North America and Europe.” The widespread expectation is for this operational model to evolve rapidly and gain traction across the Asia-Pacific in the coming years. Congratulations were extended to both parties for this transformative deal.

Looking Forward: Business as Usual

For now, the hotels under the Pro-invest Group umbrella will continue operating under their established brands, ensuring that guests and partners experience continuity. As the transaction progresses toward completion, it will be subject to informal clearance from the Australian Competition and Consumer Commission, alongside specific procedural prerequisites.

Pro-invest will retain its operational capabilities, continuing to manage its VISTA hotels portfolio, while simultaneously broadening its involvement in commercial office spaces, flexible living accommodations, and operational real estate investment opportunities, including the BTR sector. The integrated platform will persist in offering a wide range of services covering investment, development, asset management, and operations.

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Conclusion: Navigating the Future with GetTransfer.com

The expansion of EVT Limited through the acquisition of Pro-invest Hotels marks a pivotal moment in the hospitality sector, aiming to enhance hotel management capabilities and operational outcomes. As the landscape evolves, understanding the implications for travel and accommodations becomes essential.