Ago Hotels has expanded into Wales with the addition of two new hotels to its portfolio.
The hybrid lease operator has added a further 203 bedrooms to its network with the takeover of the ibis Swansea and the ibis budget Newport, marking Ago Hotels’ first venture into Wales.
The two hotels will switch to Ago’s hybrid lease model, which delivers ‘guaranteed rent plus additional profit rent’.
The hotels will continue to trade under their current brands.
The latest additions will bring the number of hotels leased and operated by Ago to 12, with existing properties located in Burton-upon-Trent, Bromley, Lancaster, Stansted, Portishead, Bromsgrove, Dundee, Peterhead, Glasgow and Thurrock.
More importantly they increase the number of rooms in the AGO portfolio by almost 40%.
Lionel Benjamin, co-founder of AGO Hotels said: “We are delighted to announce the addition of these outstanding economy hotels in South Wales. Since launching last year, we have experienced rapid growth with 12 hotels now choosing to switch to our platform. We are expecting this number to continue to grow significantly over the next 12 months, as with the addition of more comfortable and affordable hotels across the UK.”
AGO Hotels was launched in 2020 as a landlord-friendly platform, offering the combination of guaranteed priority-paid rent with genuine profit participation, enabling stable asset values and cash flow.
Accor, the global hotels group, was announced as AGO’s first key brand partner.