LONDON, 3 September 2012: Metric Capital Partners announced today an investment in the further growth of TVHG in the Netherlands via a credit instrument with equity participation.
TVHG has an initial, contracted pipeline of 19 select-service hotels in the Netherlands. The hotels are in prime locations throughout the country, including Amsterdam, The Hague, Rotterdam and Eindhoven. Each of the hotels will carry an international brand, including Holiday Inn Express, Hampton by Hilton, IBIS, Aloft and Courtyard by Marriott.
The new investment will allow TVHG to develop more hotels in the Netherlands with a development value in excess of EUR 120 million and supports the management team, headed by Bart van de Kamp (CEO – TVHG), one of the leading hotel developers and operators in the Netherlands. It supports the further expansion of TVHG’s hotel developments and hotel operations, which are managed by Interstate Hotels & Resorts, who are already a minority shareholder in TVHG.
The TVHG business model is largely based on benefiting from the stress created by the excess of office supply, which offers financially interesting opportunities in preferred locations. The model further focusses on the shortage of branded budget hotel stock in the Netherlands.
TVHG and Interstate have been working together for well over a year and their experience in developing, managing and operating predominantly limited service hotels such as Holiday Inn Express, Courtyard by Marriott, Aloft and Hampton by Hilton in the Netherlands, has proved to be an extremely effective partnership.
Commenting on the deal, John Sinik, Managing Partner of Metric Capital, said:
“The TVHG opportunity is attractive to us given the strength of the team. This includes not only the TVHG management team, but also Interstate as a world-class operator. Additionally, TVHG have highly differentiated distribution through their partnership with Intercontinental, Hilton, Marriott, Starwood and Accor “.
Bart van de Kamp, CEO of TVHG added:
“We are extremely happy with Metric as partners. We required their investment, financial strength and expertise to further expand our business, not only in the Netherlands but also in Belgium, Luxemburg and France. Their investment and expertise will further facilitate our growth.”
For further info please contact John Sinik, firstname.lastname@example.org