Hotel owner and developer Pro-invest Group has partnered with Next Story Group to create a new hotel management company with a core hotel portfolio of seven brands.
It comes as the hard-hit hotel sector is seeing growth in tourism for the first time in two years, after the global pandemic forced the closure of national and international borders.
Under this program, the newly created Vista Hospitality Group will introduce a one-stop-shop approach to the sector, offering services ranging from development planning and asset management, franchising and revenue generation modeling. down to daily hotel operations suitable for hotels. owners and partners.
The new company will combine each party’s hotel brands to immediately offer a portfolio that includes Next, Ink, Sage and Country Comfort hotels, as well as the Sebel, Voco and Hotel Indigo brands.
Pro-invest Group Founder, Chairman and CEO Ronald Barrott said Vista Hospitality will launch with more than 1,500 rooms in operation and aims to grow its footprint to 5,000 rooms over the next five years.
“Pro-invest Group’s investment in this region means we are strategically well placed to pursue this exciting partnership with Next Story Group to own new space in the market,” he said.
In February last year, as the pandemic entered its second phase, Pro-invest bought the former Primus Hotel in Sydney for $132 million. It is now the only Kimpton-branded hotel in the country and is managed by Intercontinental Hotel Group under a franchise agreement with Pro-invest.
Vista Hospitality will be chaired by hospitality industry veteran Tony Ryan.