Metric Capital Partners and Hutton Collins invest in TVHG
Metric Capital Partners and Hutton Collins Partners have invested in TVHG in the Netherlands via a credit instrument with equity participation.
TVHG has an initial, contracted pipeline of 19 select-service hotels in the Netherlands. The hotels are in prime locations throughout the country, including Amsterdam, The Hague, Rotterdam and Eindhoven. Each of the hotels will carry an international brand, including Holiday Inn Express, Hampton by Hilton, IBIS, Aloft and Courtyard by Marriott.
The Metric Capital/Hutton Collins investment will allow TVHG to develop more hotels in the Netherlands with a development value in excess of EUR120m.
The Metric Capital/Hutton Collins investment supports the management team, headed by Bart van de Kamp. It supports the further expansion of TVHG’s hotel developments and hotel operations, which are managed by Interstate Hotels & Resorts, who are already a minority shareholder in TVHG.
John Sinik (pictured), managing partner of Metric Capital, says: "The TVHG opportunity is attractive to us given the strength of the team. This includes not only the TVHG management team, but also Interstate as a world-class operator. Additionally, TVHG have highly differentiated distribution through their partnership with Intercontinental, Hilton, Marriott, Starwood and Accor."
Bart van de Kamp, chief executive of TVHG, adds: “We are extremely happy with Metric and Hutton Collins as partners. We required their investment, financial strength and expertise to further expand our business, not only in the Netherlands but also in Belgium, Luxemburg and France. Their investment and expertise will further facilitate our growth.”
Colliers International, in partnership with Cornucopia Capital Limited, assisted TVHG Budget Group Netherlands on the capital sourcing and financial structuring. Boekel de Neree, PWC and Jones Day assisted TVHG in the legal advisory of the transaction. BLP and Loyens Loeff advised Metric and Hutton Collins.
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