LaSalle will buy up UK hotels as part of a £500m pan-European hotel strategy with Numa Group.
The urban hotel aggregation strategic partnership will acquire, refurbish and operate vacant or soon-to-be-vacant urban hotels, as well as serviced apartments, boutique hotels and conversion projects.
It will target properties in prime city centre locations, and a €450m pipeline of 15 city centre assets in the UK, Spain, Italy, and the Netherlands has already been identified.
The refurbishments, which will be designed, managed and operated by Numa Group through its tech-enabled operating model, are expected to take 6-18 months.
LaSalle and Numa Group will look to integrate sustainability standards, including hybrid ventilation and water recycling strategies, which are intended to secure Excellent or Outstanding BREEAM assessments and help achieve net zero carbon status across their portfolio by 2050.
Michael Zerda, head of debt and value-add strategies at LaSalle, said: “This venture exemplifies the growing symbiosis between technology and real state. We are excited to help improve the urban short-stay, long-stay hospitality experience alongside a strong tech partner like Numa.”
Numa president Dimitri Chandogin added: “The strategic partnership further strengthens Numa’s position as the leading tech-enabled alternative accommodation provider. Our clear goal is to establish Numa as the dominant solution provider for a completely new generation of hotels and short-stay accommodations in Europe.”
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