Pro-invest and Next Story launch joint hotel group Vista
Pro-invest and Next Story Group have joined forces to create a new management company, Vista Hospitality Group Australasia.
Combining seven hotel brands, 11 properties and more than 700 employees, the joint venture will use the expertise of both companies to offer a suite of hotel resources.
Services offered by this “one-stop-shop” model will include development planning and asset management, franchise and revenue generation modeling, and bespoke hotel operations for owners and partners.
“Pro-invest Group’s investment in this region means we are strategically positioned to pursue this exciting partnership with Next Story Group to own new space in the market,” said Ronald Barrott, Founding Chairman and CEO of Pro-invest Group.
“By leveraging our commerce-focused revenue platforms and industry-leading ESG practices, along with white-label opportunities and combined brands and resources, we’ve created a dynamic new offering for owners and partners and a platform for the next phase of growth in Australia and New Zealand.”
Pro-invest Group is Asia-Pacific’s largest hotel investment and acquisition firm with $2 billion in assets, including Sebel, Voco, Holiday Inn Express, Hotel Indigo and Kimpton brands.
Vista Hospitality Group Australasia Chairman Tony Ryan is confident the joint venture will bring something new to the market.
“We are starting this new hotel management group as market leaders from day one from an industry-leading base of expertise and a shared culture of excellence,” said Ryan.
“By bringing a new approach to delivering operational benefits, responsible returns, asset optimization and scale, we are confident in our goal to be the region’s first choice for hotel owners, partners and colleagues.”
Vista Group’s portfolio will include Next Group’s Next, Ink, Sage and Country Comfort brands, as well as Pro-invest’s Sebel, Voco and Hotel Indigo brands.
Next Story Group President Patrick Imbardelli said Vista has the advantage of having a dynamic range of brands, from mid-market to luxury, and the versatility to work with global hotel brands in a white-label approach that is not yet offered in this region.
“This not only presents a solid platform for future expansion at a pivotal time for the hospitality industry in this region, but more importantly the opportunity for our collective teams of hospitality experts across Australia and New Zealand to grow and develop,” Imbardelli said.
Launched with over 1,500 rooms, Vista Hospitality Group has ambitious growth plans to increase that figure to 5,000 rooms in Australia and New Zealand over the next five years., other signings will be announced during this fiscal year.
“We can operate under our own brands, we can take opportunities, mainly management contracts, and operate under international brands, so [this joint venture] give a wide [range] of services we can provide,” said Jan Smits, Vice President and Co-CEO of Pro-invest Group. HM.
Smits named Ink, Next and Country Comfort as key brands for growth.
“We love the Ink brand, and we can’t wait to grow it,” Smits said. SM exclusively.
“One of the classic brands in the portfolio is Country Comfort. Historically, Country Comfort at its peak had 80/90 hotels in Australia, so we’re really looking forward to re-establishing that brand. The Next brand is also an opportunity.
Pro-invest will also bring its ESG capabilities to the new joint venture, with plans for hotels to adopt reusable and recyclable materials, become energy efficient and better manage water use and waste, Smits explained.
“In the Pro-invest portfolio, all assets are rated NABERS 4.5/5 stars and this underpins our beliefs for both our clients and our investors,” Smits said. SM.
“We now look forward to expanding this into brands like Ink and Next as we expand these brands in the future.”