Register to get 3 free articles
Register to unlock the article and receive our free newsletter. Join 26,000 other hotel leaders and stay in the know.
Want unlimited access? View Plans
Already have an account? Sign in
Singapore-based Prima Asset Management has partnered with Australia’s largest private hotel investor, Schwartz Family Company, to accelerate its real estate expansion in London, Europe’s leading hotel investment hub.
Schwartz Family Company will serve as a key investor in Prima’s London Paddington hotel redevelopment project and possibly other future ventures.
The collaboration “marks a significant step” in Prima’s UK expansion, bolstered by Schwartz Family Co’s portfolio of 15 hotels and over 4,300 rooms across Australia.
Building on this milestone, Prima expects to continue to capitalise on opportunities in Europe’s leading hotel market.
Supporting this strategy, Aurum Gravis, also a Singapore-based private equity firm, has committed to supporting Prima into both the firm’s hotel expansion and its targeted opportunities in the Purpose-Built Student Accommodation (PBSA) and co-Living sectors in strategic locations across the UK, alongside Baksh Capital.
Recognising the long-term value in London’s hospitality market, Dr Jerry Schwartz, director of Schwartz Family Company, said: “Having been associated with Prima’s team for over two decades, continuously fostering a wonderful relationship, this investment is deeply meaningful as it reconnects me with the neighbourhood where I spent some of my early life. Prima’s vision for this project, along with future opportunities, aligns perfectly with my passion for creating sustainable, modern hospitality spaces.”
Ben Hall, CEO and co-founder of Prima, added: “Our strategic focus on value-add opportunities in Central London is already yielding promising results. By combining our in-house expertise with high-value, industry-leading partnerships, we are positioned to deliver sustainable long-term returns through our regulated VCC Fund, managed by First Degree Global Asset Management.”
Michael Van den Brande, senior investment manager at Prima, concluded: “With London recording €2.6bn in hotel transactions in H1 2024, up 215% from H1 2023, the city remains Europe’s top hotel investment destination and with a robust pipeline of deals, we expect to close a further hotel acquisition by Q1 2025.”
