Pro-invest Group launches lifestyle brand EVEN hotels in Australia & New Zealand
On 20th October 2016, international investment firm Pro-invest Group and IHG announced an exclusive agreement to develop a portfolio of EVEN Hotels across Australian and New Zealand capital cities and economic hubs. The brand is an industry first; no other hotel brand provides a holistic wellness experience in the same way and it will be the first time that it will be developed outside the US. Pro-invest recognises that health & wellness is one of the fastest growing industries in the region and has partnered with IHG to capitalise on the trend.
The agreement, signed at the HICAP conference in Hong Kong, is an important milestone for Pro-invest Group, IHG and Australia’s and New Zealand’s travel & tourism industry. Following the success of Pro-invest’s partnership with IHG for the rollout of the Holiday Inn Express brand in Australia and New Zealand, both parties have been exploring the launch of further IHG brands in the market. Based on research conducted in the market, Pro-invest believes that current market dynamics make it the perfect place and time to introduce EVEN Hotels in the region.
Ronald Barrott, Chief Executive Officer of Pro-invest Group commented: “We are seeing strong growth in the demand for lifestyle accommodation and a unique focus on health and wellness services in Australia and New Zealand. This growth reflects the importance the local market places on personal health and well-being, making it the perfect place and time to launch EVEN Hotels. We believe Australian and New Zealand guests will be excited to learn and experience the truly unique wellness offering of EVEN Hotels and will support the roll-out of this inspiring brand in the market.”
Jan Smits, Chief Executive Officer Asia Middle East & Africa, IHG commented: “The launch of EVEN Hotels in Australia and New Zealand comes at a great time for IHG and is a strong fit to local consumer tastes and trends. We have established a strong hotel franchising model to provide owners and investors, such as Pro-invest, with a reliable and profitable alternative to our management model. This is an exciting example of the growth and development of IHG, and a strong signal of our ambition in the region.”
Under a similar structure as the AHO Fund I, which is rolling out the Holiday Inn Express brand, Pro-invest is now setting up a second investment vehicle to roll out a portfolio of up to 15 EVEN hotels across the region. Discussions are currently being held with potential cornerstone investors and the fund’s official launch is expected in Q2 2017. Pro-invest will own, develop and operate all hotels within the portfolio.
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