Since launching in New South Wales in 2010, boutique investment firm Pro-invest Group has opened four hotels and is building five more in Australasia.
Together, these hotels are projected to be worth more than $1 billion.
Pro-invest Group is an investment firm focusing on private equity real estate investments. It started in Dubai, United Arab Emirates and is led by real estate development veteran Ronald Barrott.
When Barrott and his partners were considering starting an investment business in Australia, the NSW Government had already been helpful. It had introduced them to potential business partners and other contacts, and advised them on registering their business.
The NSW Government’s promotion of the state and Australasia helped convince Barrott and his associates of the potential of launching a regional business from NSW.
“The NSW Government has been very encouraging and supportive in all aspects,” says Barrott.
In 2013 Barrott and his partners set up a Pro-invest office in Sydney. The firm has since become one of the largest hotel investment providers in Australasia. It raises funds from major investors and uses the money to build and operate hotels.
Pro-invest partnered with InterContinental Hotels Group to develop Holiday Inn Express hotels in Australasia. In 2016, it opened Australia’s first Holiday Inn Express in Sydney’s Macquarie Park. This successful launch helped Pro-invest raise $300 million to develop more hotels and build its brand in the country, according to Barrott, the firm’s Chief Executive Officer. Given the successful roll out of hotels,
Pro-invest started Fund II with an additional $500 million target raise.
Pro-invest went on to open three more Holiday Inn Express hotels, in Brisbane, Adelaide and Newcastle. As Barrott points out, the firm has built significant business in just a short period of time. “We have more than 633 rooms operational today,” he says. “In addition, we are on schedule with eight more hotels under construction, in Brisbane, two in Melbourne, one in Queenstown, two in Auckland CBD and two in Sydney. Our target is to add 5000 rooms into the Australian hospitality industry within the next five years.”
Once construction is complete, Pro-invest expects this portfolio of hotels to be worth more than $1 billion.
For more information download the Pro-invest Group case study.