The health crisis, which has weakened the hotel industry, could attract new investors.
John Ozinga, former boss of Accor Invest, is on the lookout for opportunities in Europe.
He has just taken over the general management of LRO Hospitality, a joint venture created between London & Regional Hotels, a private investor and hotel operator based in London, and PGGM, a Dutch pension fund manager.
Together, they are ready to spend up to 1 billion euros (both in equity and debt) to buy hotels to renovate.
"We are targeting independent or franchise establishments, which need to be brought up to date,
says John Ozinga, who left Accor Invest in September 2020.
3 or 4-star establishments, with or without a
brand
, to reposition them, even if it means changing their brands.”
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