Since the Wellbrook Hospitality team formed, I’ve been following the group’s progress and consecutive launch of LEVEN Manchester, which has just celebrated its first birthday. I was thrilled to finally meet some of the faces behind the new lifestyle brand – Timothy, PJ and Shanthan – and to hear about their journey thus far.
Lifestyle hotels have become a buzzword in the industry, with changing social behaviours brought about by the pandemic a likely catalyst for why this segment has received so much attention. It was nevertheless refreshing to hear that Wellbrook are not wholly focussed on this asset class having alluded to a London-based members club and exploring coliving and coworking opportunities within the brand portfolio. You can watch the full piece here.
Even though the cost of debt is making deals difficult to close, urban asset manager Redevco has snapped up six hotels in Portugal and Spain for €80 million. The group is rolling out a ‘Next Gen Stays’ investment strategy, targeting under-utilised properties with redevelopment potential across Europe. It marks the first foray into the hotel sector for Redevco, a strong sign the industry is ripe for investment – a topic which Joe Stather from Questex and I chatted about here.
The future is not without its challenges, and whilst these fed into my conversations at the Annual Hotel Conference and Independent Hotel Show last week, the overall mood amongst hotel professionals was largely optimistic. Be sure to check out some of the recorded interviews here.