Service: Value Recovery | Sector: Hotels
As a result of the considerable impact of the COVID-19 pandemic, CBRE Global Investors instructed Gerald Eve to carry out a review of their hotel portfolio within their various funds in April 2020, ranging from Jurys Inn to Z Hotels.
Gerald Eve carried out a strategic review and ‘health check’ of each of the individual hotel assets with thorough benchmarking and an analysis of KPIs using our unique total revenue database, the largest in the UK. The review also included a review of local demand fundamentals and hotel supply and pipeline dynamics. As the largest specialist hotel lease consultancy team (for the likes of Lothbury, Grosvenor Estate, Bedford Estate, Church Commissioners etc), we undertook a forensic review of the individual leases to identify if there were any potential regear opportunities. We discussed with the client any possible risks and where risks were present, we examined the options available to achieve the optimum solution for the client and the tenant. Where necessary, we worked with other teams in the wider Gerald Eve to provide alternative use values.
COVID-19 has caused great uncertainty in the hotel industry. We were able to draw upon our knowledge and expertise having advised on over 125 hotels in London and over 60% of branded hotels in the UK to provide CBRE Global Investors with informed advice in unprecedented times.