Veteran hotelier launches new £200m hotel venture fund

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Veteran hotelier and former Hilton boss, Sir David Michels has announced the launch of a new £200m fund targeting investments in the European hotel sector.

The aim of the fund will be to find individual assets, ideally with a minimum of 100 bedrooms and worth between £10m and £20m each, which can deliver significant trading improvements in the short and medium term.

It will also consider small clusters of two or three hotels but portfolio transactions are not part of the investment strategy.

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The fund will be managed by Michels’ management and advisory firm Michels & Taylor and will primarily focus on the UK, although acquisitions in the rest of Europe won’t be ruled out.

Sir David said: "I am extremely pleased to have secured the necessary funds for this new venture. The period of buying distressed assets in the UK hotel sector has gone for the time being and we are now in a period of driving value through better management. With Michels & Taylor now established as one of Europe’s leading hotel management and consulting businesses, we have the team to deliver these improvements and generate value for our investors."

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