India’s Hero Enterprise has returned to the UK via a £500m hotels development partnership with European asset manager Catalyst Capital.
In a joint statement, the companies said the Hero Catalyst Hospitality Ventures partnership will invest in and develop hotels, serviced apartments and hospitality-led projects, initially in the UK and Ireland.
It will also look to invest alongside other landowners, owners or developers holding opportunities with hospitality potential.
Rob Skelston, head of development for Hero Catalyst Hospitality Ventures, said: “We believe this is an opportune time to expand our hotel development programme, leveraging the experience and expertise at Catalyst Capital combined with the reputation, management strength and credibility of Hero Enterprise.”
Julian Newiss, chairman of Catalyst Capital, said: “While working with Hero Enterprise, we are aligning ourselves with one of India’s most credible business houses and Hero’s considerable business experience will complement our expertise in hospitality development and investment management.”
Sunil Kant Munjal, chairman of Hero Enterprise said: “We are delighted to return to the UK through this joint venture with Catalyst Capital.
“In the previous decade, we built and managed HEROtsc, a large contact centre business in the UK; we enjoyed our experience and since then Hero has been looking at interesting opportunities in Europe.
Hero invests in a diverse portfolio of businesses including areas such as real estate, health and hospitality. The company sold HEROtsc in 2013.
