The team is to be led by LRO CEO John Ozinga and CIO Henri Wilmes and will be supported by L+R Hotels’ asset management team throughout the life cycle of the investments.
Its “experienced and dedicated” team will originate transactions through its “extensive” network of industry contacts, actively manage hotels, and implement asset management strategies to “enhance” overall quality and performance to maximise investor returns.
Focus will be placed on key Western European city markets in France, Germany, Benelux, Spain and Italy.
John Ozinga, founder and CEO of LRO Hospitality, said: “Current market conditions will present LRO Hospitality with attractive investment opportunities to acquire from investors or operators facing cash flow challenges. Given the expected short to mid-term post-pandemic recovery, we believe it is the best time for us to launch our first hotel venture.”
Desmond Taljaard, managing director of L+R Hotels, added: “We are pleased to enter into this venture with PGGM as we believe in the resilience of the hotel market and its recovery in the future.”