Global Update

Within every hotel market cycle come new players looking to capitalize on opportunities and mistakes made by investors who overpaid for or overleveraged their assets . One such U . K . player currently making its mark is the Topland Group , which late last year made its biggest hotel deal when it acquired the 12-hotel Menzies portfolio from administration for £ 85 million ( US $ 141 million ) cash and now plans to grow its portfolio in the United Kingdom and beyond .

Topland in January appointed Lionel Benjamin to direct its hotel strategy and develop a portfolio that could reach £ 1 billion ( US $ 1.7 billion ) in value . “ The right deals are

“ The sTraTegy is more based in realiTy Than aspiraTion , and very doable wiThin The organizaTion . There is a good dynamic here — forward- Thinking wiTh fasT decisionmaking .”

– LioneL Benjamin

our key focus , and we are very active at the moment ,” Benjamin confirms .

Topland , led by Sol Zakay , now owns some 21 hotels including Bath ’ s Royal Crescent Hotel , the Brighton Metropole , the Glasgow Hilton and a portfolio of Thistle Hotels , six in central London and one in Edinburgh .

Benjamin says the plan is to invest to drive performance of the Menzies portfolio , and at some point put the Topland name above the doors . He is not talking about a new brand exercise , but giving the Topland name further exposure as the company grows its hotel portfolio .

For the time being third-party managers like Bespoke Hotels will continue to grow with Topland , and in the long term the owner might manage its own assets .

The growth platform will remain U . K . -centric , according to Benjamin , but the group has been

looking at deals in New York City , Miami , Paris , Germany , Spain and elsewhere . Benjamin adds that with the acquisition of the Royal Crescent , the group is considering creating a collection of luxury assets , perhaps by acquiring and converting commercial space .

Topland ’ s lending business , which has a loan book in excess of £ 300 million ( US $ 498 million ), will also capitalize on Benjamin ’ s expertise and expects to see a rise in funding deals for the hotel sector .

“ I was drawn to Topland by its entrepreneurial approach , appetite to grow , determination to succeed at the right price point and at the right level , and having the cash to deliver on that aspiration ,” Benjamin says . “ The strategy is more based in reality than aspiration , and very doable within the organization . There is a good dynamic here — forward-thinking with fast decision-making .”

Rendering of a cross-section of a Radisson Red property

First there was Blu , and now Carlson Rezidor Hotel Group is launching two new global hotel brands : Radisson Red , a “ lifestyle select ” brand , and Quorvus Collection , a curated collection

of contemporary luxury hotels that celebrate the local culture . The goal is to have more than 60 Radisson Red hotels and 20 hotels in the Quorvus Collection by 2020 . Carlson has earmarked US $ 50

million in equity to start developing the first five 150-key Red hotels in the United States , which Chief Branding Officer Gordon McKinnon says will cost about US $ 125 million .

The Red prototype includes a mirrored facade that allows for more light , with costs being offset by efficiencies such as limited F & B service and multitasking staffing models . The technology focus will include a mobile application that allows guests to personalize their experience .