Property News King Edward VII Estate in Midhurst

TVHG in the Netherlands

Colliers International Hotels & Resorts team, working in partnership with Cornucopia Capital Ltd., has successfully fulfilled its mandate to raise “equity” capital for the expansion of the TVHG group in the Netherlands, through the arrangement of a credit instrument with equity participation provided by Metric Capital Partners and Hutton Collins Partners.

TVHG now has the capital to develop out its contracted pipeline of 19 select-service hotels in the Netherlands. The hotels are in prime locations throughout the country, including Amsterdam, The Hague, Rotterdam and Eindhoven. Each of the hotels will carry an international brand, including Holiday Inn Express, Hampton by Hilton, IBIS, Aloft and Courtyard by Marriott.

The Metric Capital/Hutton Collins investment will allow TVHG to develop more hotels in the Netherlands with a development value in excess of EUR 120 million.

The TVHG business model is largely based on benefiting from the stress created by the excess of office supply, which offers financially interesting opportunities in preferred locations. The model further focusses on the shortage of branded budget hotel stock in the Netherlands.  The properties are managed by independent management company, Interstate Hotels & Resorts.

This deal is the latest in a long and successful association.  Colliers first brought TVHG and Interstate together in a deal in 2011 which saw the independent management company invest equity into the first phase of the development roll-out. Since then they have been working together for well over a year and their experience in developing, managing and operating predominantly limited service hotels such as Holiday Inn Express, Courtyard by Marriott, Aloft and Hampton by Hilton in the Netherlands, has proved to be an extremely effective partnership.

Commenting on the deal, Marc Finney, Head of International Hotels & Resorts for Colliers International in London said:

"We are delighted to have been able to secure this investment.  It sees the successful conclusion of many months of work in what are certainly the most difficult capital markets in my working lifetime.  Securing investment from such high quality investors in a deal with so many moving parts was only possible due to the quality of the company for whom we were raising the money and the exceptional business plan which we helped them to formulate"

Also commenting was Dirk Bakker, Head of Colliers International hotel team in the Netherlands and leader of the EMEA hotels group for Colliers who said:

"This is fantastic news for the hotel sector in the Netherlands.  More than €120 million has been secured for the development of new branded budget hotels in the Netherlands and this will bring up the level of hotel stock in this country.  It also shows the strength of Colliers International network to deliver solutions across borders in a seamless fashion"

Bart van de Kamp, CEO of TVHG added:

“We are extremely happy with Metric and Hutton Collins as partners. We required their investment, financial strength and expertise to further expand our business, not only in the Netherlands but also in Belgium, Luxemburg and France. “We enjoy working with Colliers International because their expertise is based on true international hotel operational knowledge and they are prepared to go the extra mile and deliver tangible results.“

For further information, please contact:

Dirk Bakker
Colliers International on behalf of TVHG
+31 20 540 5540

David Scheurl
Metric Capital Partners
+44 207 360 5122.

Doug Oppenheim
Hutton Collins Partners
+44 20 7004 7000

Robin Choudhury
Cornucopia Capital Limited
+44 7802 401804
 
Dirk Bakker / Marc Finney
Colliers International
+31 20 540 5540 / +44 20 7344 6601

TVHG

Success Story

Following on from our success in introducing Interstate Hotels & Resorts to TVHG and a 5 million euro investment to match their management contribution, we have been commissioned to raise 25 million euros of equity for Phases II and III of the company's expansion.

Belfast