Resolution hires hotel specialist to explore market opportunities

European real estate investor Resolution Property has appointed hotel market specialist Mads Heideby to explore further investment opportunities in the UK and Continental hospitality sector.

Mads Heideby is a hotel real estate specialist whose track record includes roles at leading consulting and valuation firm HVS and investment banks including Merrill Lynch and Lehman Brothers. Most recently he managed Starman Hotels for Lehman Brothers, the joint venture between Starwood Capital Group and Lehman Brothers, where he oversaw the disposals, debt restructure and general strategy.

At Resolution, Heideby will explore selective moves into new hotel markets, building on the company's track record in this sector, which includes the Soho House Hotel at Torstrasse, Berlin, the Queensbridge House development in the City of London and two hotels under development at Brewery Square, the major town centre regeneration scheme in Dorchester, Dorset.

Areas of interest for new investment include three and four-star hotels in the UK, Resolution said, adding that it will focus on asset acquisitions in London and other major UK city centres, but may also consider exceptional opportunities in Continental Europe. Prospective hotel investments of between £50 mln (EUR 56 mln) and £100 mln each will be backed by equity from Resolution Real Estate Fund III, together with debt finance.

New hotel investments will complement Resolution's EUR 1 bn programme to unlock added-value investment opportunities and developments in the UK and Continental Europe that have stalled due to the constrained supply of bank finance.