The hotel group and subsidiary of Singapore-listed GuocoLeisure Group, announced the launch of Every Hotels as a direct response to the pressure that four-star hoteliers are experiencing globally.
Based on market research that showed a gap between bedroom and event space occupancy, the new brand aims to offer four-star bedroom facilities with limited non-bedroom facilities to maximise yield for owners.
The brand will be launched by the opening of Every Piccadilly in London in November this year.
This will be followed by openings in Hyde Park, Leicester Square and Bloomsbury with the ambition to add 50 further hotels by the end of the decade.
Mike DeNoma, the chain’s chief executive, said: “The four-star full-feature hotel product is a dinosaur for many cities around the world. We estimate that half of all 4 star hotels outside gateway cities have too many restaurants and barely-used meeting facilities.
“The four star sector continues to bury its long neck in the sand, in the face of changing customer needs. Every is our direct response to owners and developers burdened with legacy buildings who are keen for a new four star option that responds to the changing market.”
Ian Gamse, director at OTUS & CO, specialist hospitality finance and strategy advisors, said: “It should be obvious that supply needs to match demand. But the big old four-star hotels were designed to meet demand that scarcely exists outside gateway cities.
“However much customers say that they like hotels with lots of restaurants, ballrooms meeting spaces, spas, swimming pools and whatever – they hardly use those facilities. It’s so much wasted space. Property owners know this and are exasperated.”