Property consultancy firm and estate agent Knight Frank has made two new additions to its UK hotels team, as well as announcing that it made £400m of transactions in 2019.
The Knight Frank agency hotels team completed over £400m of UK hotel transactions in 2019. This includes selling the Fairmont St Andrews Hotel, Cotswold Inns & Hotels’ portfolio, luxury hotel 15 Great Pulteney, and the acquisition of the ground rent of the Como Metropolitan Hotel.
The strong year has inspired the global property adviser to add Kirsty Brannon as an associate of its valuations team, and Josh Aspland-Robinson as a surveyor in its agency team.
Brannon joined from Santander, where she was a credit partner; to find Aspland-Robinson, Knight Frank hired from its own ranks where he had been a surveyor for the last year.
Shaun Roy, head of hotels and specialist property investment at Knight Frank, commented: “The growth of our dedicated Hotels team, which provides valuations, agency and investment advice, will enhance the service we are able to offer our clients at this exciting time in the hotels market.
“We are pleased to welcome Kirsty to the team and for Josh to be permanently joining the Agency team. These hires underline the depth in Knight Frank’s UK Hotels offer, ensuring we are well positioned to strengthen our market share in the sector.
“With further clarity provided by the recent election we anticipate more hotel opportunities coming to the market, but the continued demand from investors will outstrip supply and therefore pricing will remain robust.
“Clients are looking to recycle capital by way of sales so they can refurbish existing assets or look to develop new hotel assets. We do expect to see more open marketing campaigns to take place in 2020 due to increased certainty in the market, however off market transactions will remain prevalent as vendors want to minimise disruption to their businesses.”