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De Vere has announced that Tony Troy will be stepping down from his role as CEO at the end of the month to pursue other private investment opportunities.
It revealed he will, however, continue to support De Vere by taking on a non-executive director position.
The hotel said Troy has helped “shape” the UK hospitality landscape from his first management buy-out in 1994 to more recently managing a multi-billion pound capital investment and repositioning programme on behalf of Starwood Capital, a global private investment firm.
Troy supported and contributed to Starwood Capital’s strategic plan in creating the Principal Hotel Company. In July 2018 the Principal portfolio was successfully sold to Covivio and it was agreed that he would remain for a period of time to assist the transition of the remaining De Vere Group to become a standalone group in its own right.
However, as a result of the pandemic, the hotel said Troy chose to stay on to provide strategic support and direction during this period of unprecedented change and disruption. Having successfully navigated through this challenging period, Tony now moves into his non-executive role.
Cody Bradshaw, managing director, global head of Hotel Asset Management, Starwood Capital, said: “Through Tony’s expert knowledge of the industry and his great entrepreneurial skills he made a significant contribution to the overall success of the strategy.”
James Burrell, who “greatly” assisted Troy and Starwood Capital in the overall strategic development of the group, will succeed Troy as CEO of De Vere.
