Resolution appoints hotel specialist to explore hospitality market opportunities

Resolution Property, the leading European real estate investor, has appointed hotel market specialist Mads Heideby to explore further investment opportunities in the UK and continental hospitality sector.

Mads Heideby

Mads Heideby.

Heideby is a hotel real estate specialist whose track record includes roles at leading consulting and valuation firm HVS and investment banks including Merrill Lynch and Lehman Brothers, gaining considerable experience in hotel investment, senior debt, mezzanine finance and equity joint ventures. Most recently he managed Starman Hotels for Lehman Brothers, the joint venture between Starwood Capital Group and Lehman Brothers, where he oversaw the disposals, debt restructure and general strategy.

At Resolution, Heideby will explore selective moves into new hotel markets, building on the company's track record in this sector, which includes the Soho House Hotel at Torstrasse, Berlin, the Queensbridge House development in the City of London and two hotels under development at Brewery Square, the major town center regeneration scheme in Dorchester, Dorset.

Areas of interest for new investment include three and four-star hotels in the UK. Resolution will focus on asset acquisitions in London and other major UK city centers, but may also consider exceptional opportunities in Continental Europe.

Prospective hotel investments of between £50 million and £100 million each will be backed by equity from Resolution Real Estate Fund III, together with debt finance.

Robert Wolstenholme, Director of Resolution Property, said: "We know Mads well and he will bring a wealth of specialist experience to our ongoing investment in hospitality real estate, which we see as a potential growth sector as the economy recovers. We're looking to build on our successes to date in hotel investment through carefully selected asset management opportunities."

Mads Heideby said: "I am delighted to join Resolution, an established and well respected property investor. This is a great time to join the team, as they look at new opportunities in the hotel market, with solid equity backing and an existing track record in this arena."

New hotel investments will complement Resolution's €1 billion program to unlock added-value investment opportunities and developments in the UK and continental Europe that have stalled due to the constrained supply of bank finance.

Source: FD

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