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Birth of an English Reit, Vector Hospitality

Richard Balfour-Lynn, chief executive of Marylebone Warwick Balfour, is also the owner of the Alternative Hotel Group, AHG. Together with the Bank of Scotland Corporate and the Royal Bank of Scotland, AHG established recently a real estate investment trust, Vector Hospitality. As a move to balance his assets and operations, Richard Balfour-Lynn decided to sell the 9 Malmaison Hotels and the 8 Hotel du Vin, owned by Marylebone Warwick Balfour to Vector Hospitality for almost e800 million. Furthermore, Vector will acquire 54 properties including AHG’s De Veres and RBS’s Hiltons, and four individual hotels: the Cumberland (operated by Thistle), the Park Inn Heathrow (operated by Rezidor), the Victoria & Albert (operated by Marriott) and the Waldorf Hilton. The total portfolio has a value of e4bn. Vector has also contracted to acquire a pipeline of 7 further Malmaison and Hotel du Vin properties with an aggregate of 380 rooms. Vector plans to raise e3.5bn from its IPO and aims to expand its portfolio in the near future.

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