Case Study 1
New York Vista Hotel
Situation: The hotel was a very low yielding asset for the owner - the Port Authority of New York and New Jersey - and was not core to their activities.
Task: To deliver strategic recommendations on this important asset.
Action: Provided advice regarding the upgrade and repositioning of the hotel prior to any sale and led the subsequent international marketing of the hotel for sale purposes. Designed and executed a global marketing programme to attract potential buyers.
Result: Due to the global perspective of the marketing programme the sale was not only successful but achieved almost twice the original estimate.
Case Study 2
Chancery Court, Holborn, London / Pearl Assurance
Situation: Chancery Court was a Grade 1 listed historic building no longer suited to office accommodation. Its owners -the Pearl Assurance - decided to sell the building as an office investment and the original approach was on this basis.
Task: To focus on facilitating the sale of the property.
Action: Having been asked to advise on this project I quickly identified the fact that the building would make a superb five star hotel and after securing agreement from the Pearl board, initiated a feasibility and marketing study of the building with a view to facilitating a hotel conversion. Instructed architects to deliver a brief study of the building resulting in the development of a scheme for a 362 room five star hotel.
Result: Undertook an international marketing campaign which resulted in the hotel being sold and developed as the Renaissance Hotel by the eventual purchaser, New World Hotels International.
Case Study 3
Athens Hilton / Ionian Bank
Situation: The Athens Hilton, which was owned by the Ionian Bank was a low yielding asset and the original management contract entered into was not favourable to the owner.
Task: To transform a poorly performing hotel asset.
Action: Identified that the client should be receiving a far greater return on the asset and subsequently undertook an Operator Selection Process requiring six top hotel operators to submit proposals for a Management Contract and provide a set of financial projections. Made recommendations on selection of new Operator or renegotiating current contract.
Result: Having analysed all projections, the Ionian Bank decided to stay with Hilton but secured a much improved management contract.
Case Study 4
Heliopolis, Cairo
Situation: The Al-Babtain Group of Kuwait, one of the largest trading companies in Kuwait, owned a major development site in Cairo which was earmarked for a mixed use development with a major hospitality component.
Task: To deliver initial recommendations for the development of this hotel complex.
Action: Analysed the site and recommended the star rating of the proposed hotel, the number of hotel condominium apartments and the balance of shopping and commercial use within this 2 million square foot development. Led the Operator Selection Process to identify the most appropriate hotel operator and introduced the owners to a major firm of French constructors, Bouygues.
Result: Raffles Hotels won the selection process and the project has recently been sold to an investment consortium.
Case Study 5
Hyde Park Hotel - London
(now the Mandarin Hotel, Hyde Park)
Situation: Advising a South East Asian Government on the value and recommending a bid price to secure this Hotel.