As Founder, CEO and Chairman of the company, Barrott led Stannifer to become one of the UK’s largest and most successful select service hotel groups.
Ronald Barrott, principal of Pro Invest said, “This fund is comprised of a group of offshore investors, all who see the potential of investing in both the Holiday Inn Express brand, and Australia. We believe now is the time to grow this brand in the market and travellers will certainly benefit from having one of the world’s biggest hotel brands to choose from.
“My
previous experience in the UK tells me this partnership with IHG will be a long
and successful one, and that there is plenty of opportunity to grow this
initial portfolio of 15 Holiday Inn Express hotels to become many more in the
years to come.”
IHG
Asia, Middle East and Africa CEO, Jan Smits continued “The announcement of this investment fund comes at a great time for IHG
in Australia. Our current hotel brands here, InterContinental, Crowne Plaza and
Holiday Inn, are already well-known and regarded by our hotel owners, and Holiday
Inn Express is a welcome addition. We announced our first signing under this
brand earlier this year and that hotel will open in Perth, Western Australia in 2015. Pro Invest’s portfolio will launch with the opening of Holiday
Inn Express North Ryde in autumn 2014.
“We have established a strong hotel franchising model to
provide owners and investors in Australia, such as Pro Invest, with a reliable
and profitable alternative to our equally-successful management model. This is
an exciting example of the growth and development of IHG in this market, and a strong
sign of confidence in IHG’s offering.”
There are currently 30 hotels open operating under IHG’s
InterContinental Hotels & Resorts, Crowne Plaza and Holiday Inn brands in
Australia. First launched in 1991, the Holiday Inn Express brand has now grown
to more than 2,200 hotels worldwide - the biggest brand within the IHG estate.
A further 450 hotels are due to open in
the next three to five years.