HOTELS. First for all property services

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1 HOTELS First for all property services

2 Client focused hospitality advisors Our dedicated hotel division provides seamless advice on all aspects of hotel property to corporate and independent owners, purchasers, investors and lenders across Europe. With one of the largest hotel real estate and consultancy teams in Europe, we offer our clients a complete range of services across all aspects of the development lifecycle from: Building Advisory Energy and Sustainability Consulting Development Advisory Agency, Valuation and Capital Markets Spatial Planning and Regeneration Project Management Real Estate Management Our clients include independent property developers, investment funds, local authorities, major hotel brands and key financial institutions. Our experience ranges from five star resorts to limited service hotels. We have strong relationships with all the major hotel groups and have local specialists in key European markets. 3

3 Building advisory We provide market leading building consultancy advice to hotel fund managers, investors, developers and owner/operators. Services include: Technical surveys for acquisition and sale Development appraisals for refurbishments and new schemes Fund monitoring during construction Cost planning advice Reinstatement cost assessments for insurance valuation purposes Dilapidations advice Specialist technical advice e.g. façade engineering Mechanical and electrical services Structural engineering services Consulting on different brand standards and secondary use of the building after lead contract We identify the technical issues that may impact investment value or operation, both now and in the future. We look at all parts of a hotel, including the building structure, envelope, engineering services, finishes, FF&E and external areas. We also undertake environmental assessments covering site development history, geology and hydrology, contamination, remediation, and flood risk. Hotel Pulitzer Amsterdam Client: Riverland Cooperatief U.A. Case study: see page 24 Andrew Dobson Senior Director, Building Consultancy T: E: andrew.dobson@gva.co.uk Dr. Kati Herzog Senior Executive T: E: kati.herzog@apleona.com 5

4 Energy and Sustainability Consultancy We have a number of pan European specialist teams helping clients with this increasingly complex and regulatory environment. Our services include: Energy consultation and strategy Energy management, monitoring and auditing (ISO ) Sustainability consultancy and rating Consulting for building certification (BREEAM, LEED, DGNB) Regulatory reporting (VRC, ESOS, GHG) Voluntary reporting (GRESB, IPD, EcoPAS, GRI) We help clients develop sustainability strategies to support the investment and management of their hotels. Architekten BDA Reichel + Stauth, Cube Visualisierungen Hyatt Place Frankfurt Airport Client: Feuring Hotelconsulting GmbH Case study: see page 26 Dr. Kati Herzog Senior Executive T: E: kati.herzog@apleona.com Jonathan Gibson Director, Sustainability T: E: jonathan.gibson@gva.co.uk Norbert Löffler Co-Head of Building Advisory and Project Management T: E: norbet.b.loffler@apleona.com 7

5 Development advisory Our consultancy team provides specialist services to the hotel industries for a broad range of clients, including developers, investors, local authorities and public institutions. We are very hands on consultants and have been helping our clients deliver hotels for over 33 years. From the initial market study, all the way through to helping negotiate the commercial terms / performance monitoring and ongoing valuation. Our services include: Feasibility Studies Operator / Brand Selection Asset Management Funding Advice and Origination Performance Monitoring Acquisition Due Diligence Valuation Our experience ranges from five star resorts to limited service hotels. We are known for our client focused no nonsense approach and are able to bring our cutting edge market knowledge to ensure the best result for clients projects. Chiltern Firehouse, Marylebone, London Client: Manhattan Loft Case study: see page 22 Richard Gaunt Director, Retail, Hotels and Leisure T: E: richard.gaunt@gva.co.uk Sebastian Karban Country Head Poland T: E: sebastian.karban@apleona.com 9

6 Investment, agency and valuation experts Our team has unrivalled market knowledge and expertise which means we are able to guide the disposal process through to completion of sale. We advise on the best time and method to sell a clients asset to maximise disposal proceeds. We have extensive experience working with distressed assets to help lenders and insolvency practitioners understand the issues involved in implementing a strategy that achieves the best outcome. Our breadth of skills enables us to be proactive, rather than reactive, to issues that can arise during a sale. Ghyll Manor Hotel, West Sussex We have a specialist hotel valuation team of chartered surveyors experienced in the preparation of hotel valuations throughout Europe for a variety of purposes including loan security, company accounts, listing, sale or purchase. We work closely with our European network of Apleona GVA offices and GVA Worldwide affiliates, whether dealing with single assets or cross-border portfolios. Our clients comprise a mix of hotel operators, lenders, investors and developers Client: Boundles (CSMA) Case study: see page 21 Birgit Lenzen Head of Capital Markets T: E: birgit.lenzen@apleona.com David Creamore Director T: E: david.creamore@gva.co.uk Chris Dallison Director T: E: chris.dallison@gva.co.uk 11

7 Spatial planning and regeneration We have a range of spatial and regeneration specialists who assist our client s with the development and delivery of large mixed use projects. This ranges in scale and support from initial market advice to formulating and implementing master plans to achieve commercial, regeneration or corporate objectives. In addition to large regeneration projects (which often include hotel elements) we represent developers in securing planning permission for hotels. This includes, extensions / modifications, change of use e.g. residential to hotel or for new build properties. Our services include: Master plan development Economic Impact Assessment Procurement Finance and structuring advice Planning representation and submission Expert Witness Kubatur Modelling Tottenham Hale Masterplan Delivery Client: London Borough of Haringey Case study: see page 24 Martyn Saunders Director, Spatial planning and regeneration T: E: martyn.saunders@gva.co.uk 13

8 Project management Project management is provided through our specialist team, firmly established at the forefront of hospitality consultancy delivering luxury high profile, mid-market and limited service hotel properties. We project manage new build and refurbishment projects from large scale developments to small scale repairs from concept to practical completion. We manage team selection, design and procurement including contractor selection, programme and budget, and construction works including construction management services. We initiate development negotiations between owners, developers, and operators. Rosewood London, High Holborn Establishing our clients needs, we manage the various stakeholder and authority approvals needed for major developments. We will prepare a business plan, select the consultants with the best credentials to deliver the project and develop detailed construction cash flow projections. We ensure every obligation is met without compromising design, procurement and construction. We administer all construction contracts either as the Employer s Agent or Contract Administrator in line with the form of contract. Client: Hotel Property Investors Chancery Court Limited Case study: see page 25 Grzegorz Kaleta Director, Hotel and Technical Advisory T: E: grzegorz.kaleta@apleona.com Thomas Mücklich Co-Head of Building Advisory and Project Management T: E: thomas.mucklich@apleona.com James Brannigan Director, Second London Wall Project Management T: E: james.brannigan@slw.com 15

9 Real estate management We are able to offer a pan European Asset and Property Management service. This covers a wide range of day to day Management services as well as offering mid-term value optimisation strategies. Our services include: Rent collection, tenant relations Accounting Lender and investor reporting Landlord representation (FM, PM and AM) Maintenance and repair monitoring / authorisation Insurance management Warranty and regulatory management and reporting Apleona are engaged in over 150 hotels across Europe where we run asset and property management services. We have a range of clients from investment funds who ask us to manage pan European hotel portfolios to single assets. Radisson Blu Berlin Client: Union Investment Real Estate Case study: see page 29 Lisa Riva Senior Director, Property Management T: E: lisa.riva@gva.co.uk Franziska Magin Head of Key Account Union Investment T: E: franziska.magin@apleona.com 17

10 Client testimonials 570 As a major investor within the global hospitality sector, we are partnering only with real estate advisors who are able to truly represent us on the ground and who provide proactive advice on our properties. Apleona UK is fulfilling these roles for our Polish and German hotel properties to our full satisfaction. Furthermore, together with the team of Apleona UK, we are continuously optimizing our real estate processes and thus creating additional value for our investors. We are very pleased with the service and commitment GVA bring. They understand our needs well and respond diligently and professionally. Hans-Peter Herman, Invesco Real Estate Hotel & Leisure Fund Management 5.17 MILLION GVA fee income in the hotels sector over the last 3 years Over 570 hotel instructions in the last 3 years 1,376 Number of hotel properties advised upon over the last 3 years Martin Schaller, Union Investment Real Estate GmbH, Asset Management Hotel Head of Division 25 Number of hotels under management in Europe 53 Number of UK and European hotel experts 300 Number of UK and European hotel clients over the last 3 years 19

11 Fort Dunlop Client: Tristan Capital Partners Project: Current tenants, Travelodge, have signed a new 25-year lease with Tristan Capital Partners for the 100 bedroom hotel, situated at Fort Dunlop, Fort Parkway, Birmingham. Bilfinger GVA s Retail, Hotels and Leisure team has also been retained to advise on Fort Dunlop s ground floor retail facilities. Mondrian London at Sea Containers Client: Morgans Hotel Group Project: A 5 star hotel within the newly refurbished 8 storey building, the new 359 room Mondrian captures the essence of the original building, exuding 1920s cruise ship glamour. The 359-room hotel includes a 1,500m2 ground floor area including a riverside restaurant and breakfast bar, roof top bar with panoramic views over London, spa and a 61-seater screening room, to be used for TV and film premiers. Nobu, Shoreditch Client: Allied Irish Bank Project: Carried out a Feasibility Study regarding the possibility for building an upscale Nobu branded hotel and restaurant in Shoreditch. The hotel is now well under construction and will open in Ghyll Manor Hotel, West Sussex Client: Boundles (CSMA) Project: Instructed on the sale of the freehold for Ghyll Manor. Originally a private residence, this 17th century country house is now a 3* hotel with 29 en suite guestrooms and a restaurant. 21

12 Chiltern Firehouse, Marylebone Client: Manhattan Loft Project: Completed a Feasibility and Valuation Report for the development of the 26 bedroom five-star hotel and 300 cover restaurant which opened in The property is operated by Andre Balazs, owner of a number of high profile properties in the USA, including the Chateau Marmont in Los Angeles and the Mercer in New York. The hotel has quickly established itself as one of the leading evening venues in London since opening. The Savoy, London Client: Private Client Project: GVA reduced valuation from RV 8,564,500 including Simpsons in the Strand to RV 5,300,000 following the re-opening of the hotel from October Savings in excess of 9 million. Starwood Aloft Hotel, Docklands, London Client: ADNEC Project: We have worked with ADNEC across their ExCeL estate ad-vising them on the opportunity to develop a range of ho-tels. The hotel conversion commenced in May 2013 and opened in We were retained to advise on preopening services and monitor the performance of the hotel in its first year of operation. 23

13 Scandic Hotel Wroclaw Client: Invesco European Hotel Real Estate Fund Project: Our work for Invesco on this property is an excellent example of how we help clients with both Building Advisory and Real Estate Management. Detailed structural surveys (including environmental audits) enabled us to appraise a range capital investment projects and property improvement require-ments over a 10 year period. Key improvements were implemented (ie roof replacement) and monitored by our teams. Hotel Pulitzer Amsterdam Client: Riverland Cooperatief U.A. Project: Pre acquisition survey of the Hotel Pulitzer Amsterdam. Scope included the assessment of the building structure, fabric and engineering services as well as an environmental appraisal. Tottenham Hale Masterplan Delivery Client: London Borough of Haringey Project: The development and delivery of a major mixed use regeneration project in east London. This includes over 5,000 homes, 10k sqm of retail space, a new premiership football stadium (Tottenham Hotspur), transport infrastructure (including railway station) and a second phase residential development opportunity. Rosewood London, High Holborn Client: St James Leisure Project: Voted Best Hotel in the World at the 2014 Virtuoso Awards, the hotel has also attracted numerous other awards since completion of the re- furbishment. SLW were Project Managers and Employer s Agent for the challenging soft and hard refurbishment, included the strip out and hard refurbishment of an existing Grade II Listed building containing 356 rooms to create 304 bedrooms, 43 suites and all public areas. 25

14 Architekten BDA Reichel + Stauth, Cube Visualisierungen Hyatt Place Frankfurt Airport Client: Feuring Hotelconsulting GmbH Project: The first project of the new Hyatt-Brand in Germany is errected adjacent to Frankfurt Airport. The hotel houses more than 300 rooms with trend-setting room-concepts for more than two people that adress not only business travellers but also families. Apleona Bauperformance GmbH conducts the sustainabiltiy consulting services to achieve a LEED -Certification in Silver. Jagdschloss Kranichstein Client: Bilfinger Corporate Real Estate Management GmbH Project: The client is operating a hotel and conference center in the (hunting lodge) Jagdschloss Kranichstein near Darmstadt. The hotel was refurbished and a new building next to the Marstall now extends the capacity of the hotel. Apleona Bauperformance GmbH managed the planning and executed several planning disciplines: the structural engineering of the historical Jagdschloss (hunting lodge), the HVAC-execution planning for the old building and the HVAC construction management for the old buildings and the new construction. Also retrofitting of the fire protection and quality review via sonic /acoustic measurements were provided. 27

15 Travelodge Portfolio Client: Goldman Sachs on behalf of Grove Property Unit Trust Project: We manage a 144 strong Travelodge portfolio for Goldman Sachs in the UK. Our services cover a range of property / facility management services includes rent collection ( 36m per annum), rent reviews, annual property inspections, construction management, highlighting repair issues and fund reporting. 35 properties across Europe Client: Invesco European Hotel Real Estate Funds Project: GVA are the building and technical advisors for Invesco s European Hotel Real Estate Fund. We provide pre acquisition survey and property compliance advice with indicative CAPEX plans for the Fund. This includes M&E services, compliance / regulatory reporting and defects. To date we have conducted over 35 reviews in 10 countries. 93 assets across Europe Client: Union Investment Real Estate Project: We offer a full spectrum of real estate management services across Union Investment s pan Europe portfolio. This includes primary contact to the tenders and the owner, supervising the tenders contractual duties, (sales) dataroom mangement, regulatory / compliance reporting, rent collection, preparation / budgeting, realisation and supervision of all CAPEX measures monthly and quarterly fund reviews. The total hotel portfolio has a size of 17 sites, contains over 3,000 hotel rooms and more than 25m of rent per annum. We directly monitored and managed 25m of capital projects over the whole portfolio the last eight years. 29

16 Our wider network The hotel real estate team GVA Worldwide is our international platform that provides access to a team of best in class advisers, expert agents and brokers. This team has been built by choosing independent companies who share our vision, values and meet our compliance standards and membership obligations. GVA is a founding member and the majority shareholder of GVA Worldwide. We offer integrated global commercial real estate management and consultancy services to a wide range of clients, from multinational corporations to major space users, developers, owners, lenders and investors. Some of our hotel specific clients are listed below: Tristan Capital Partners Manhattan Loft ADNEC Morgans Hotel Group Jury s Inn 5,500 real estate professionals 51.8bn transactions worldwide Union Investments PPHE Group Vastint Hospitality Polcom Develpments Invesco Real Estate 170 office locations 25 countries Building consultancy & energy and sustainability consultancy Andrew Dobson Senior Director, Building Consultancy andrew.dobson@gva.co.uk Dr Kati Herzog Senior Executive kati.herzog@apleona.com Jonathan Gibson Director, Sustainability jonathan.gibson@gva.co.uk Nörbert Loffler Co-Head of Building Advisory and Project Management norbert.b.loffler@apleona.com Development advisory Richard Gaunt Director, Hotel Consultancy richard.gaunt@gva.co.uk Sebastian Karban Country Head Poland sebastian.karban@apleona.com Project management Valuation James Brannigan Director, Second London Wall Project Management james.brannigan@slw.co.uk Chris Dallison Director, Retail, Hotels and Leisure chris.dallison@gva.co.uk Investment and agency experts Birgit Lenzen Head of Capital Markets birgit.lenzen@apleona.com David Creamore Director, Retail, Hotels and Leisure david.creamore@gva.co.uk Barbara Linnemann Director Asset Management barbara.linnemann@apleona.com Spatial planning and regeneration Martyn Saunders Director, Spatial planning and regeneration martyn.saunders@gva.co.uk Project management Grzegorz Kaleta Director, Hotel and Technical Advisory grzegorz.kaleta@apleona.com Thomas Mücklich Co-Head of Building Advisory and Project Management thomas.mucklich@apleona.com Real estate management Lisa Riva Senior Director, Property Management lisa.riva@gva.co.uk Franziska Magin Head of Key Account Union Investment franziska.magin@apleona.com 31

17 If you d like to talk to one of our team to discuss property services or any market leading research, please get in touch. Enquries info@gva.co.uk Visit us online gva.co.uk Austria Bulgaria Canada Colombia China Croatia France Germany Greece Hong Kong Ireland Italy Mexico Netherlands Norway Poland Portugal Russia Slovenia Spain Switzerland Turkey UK USA Published by GVA 65 Gresham Street, London, EC2V 7NQ GVA is the trading name of GVA Grimley Limited an Apleona company GVA 11240