London-based fund managers Metric Capital Partners and Hutton Collins Partners have invested in Dutch hotel developer and operator TVHG via a credit instrument with equity participation. The total investment was not disclosed, but the firms said it will secure over €120m of hotel developments in the Netherlands.
Focused on the development of branded budget hotels, TVHG has a contracted pipeline of 19 Dutch hotels in prime locations in Amsterdam, The Hague, Rotterdam and Eindhoven, Metric said in a release. The fresh capital will also support further expansion of its developments and operations, which are managed by Interstate Hotels & Resorts, a minority shareholder in TVHG.
Metric Partner John Sinik commented: “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.” TVHG CEO Bart van de Kamp added that said the firm is not only looking to expand domestically but also in Belgium, Luxembourg and France. The hotels currently in development are to be operated by Holiday Inn Express, Hampton by Hilton, IBIS, Aloft and Courtyard by Marriott.
Metric provides capital solutions to mid-sized companies in Europe, taking a long-term partnership approach. Hutton Collins Partners manages long-term capital on behalf of blue chip investors from around the world. It invests across western Europe through mezzanine capital, preferred and minority equity capital. pie
