Michels & Taylor and FREO Group sign partnership deal

Amy Horsfield By Amy Horsfield
11 March 2019 | Updated 11 March 2019

UK: Michels & Taylor(M&T) has announced the completion of a strategic partnership agreement with FREO Group, the European real estate investment and asset management business.

The deal allows M&T to utilise the investment resources and expertise of the real estate development and asset management houses whilst FREO, who has acquired 25% of M&T's shares as part of the agreement, will have access to one of Europe's leading hotel platforms.

M&T will continue to provide its services - hotel management, advisory, asset management and brand selection - to its customers. The tie up with FREO will now also enable it to join its current and future clients in active investment opportunities as well as sourcing with FREO and its investment partners its own acquisitions.

AHV Associates LLP, the boutique investment bank in the hospitality sector, initiated the partnership discussions and advised FREO on the transaction.

Sir David Michels, chairman of M&T, said: "Having successfully grown all areas of our businesses in recent years, we have managed to build a well-respected and substantive hotel platform upon which our client base has been able to rely over the past few years. This deal with FREO allows us to continue to develop our core businesses for our clients but now with real investment resources behind us."

Hugh Taylor OBE, chief executive of M&T, added: "We are very excited about our new relationship with FREO Group. This strategic partnership is the logical next step for our business and will allow us to work even closer with our current and future clients on their hotel and investment strategies. In FREO, we now have a partner to help us move ahead with the next stage of our development and we very much look forward to working with Matthias, Andrew and their team."

Andrew Hunter, managing director of FREO Management (UK), commented: "FREO believes that expertise in managed real estate is critical for future development and asset management. Hotel operations is a very important part of this and we are privileged to be able to enter into a strategic partnership with the class leading group of M&T. This relationship will open up significant opportunities for FREO and its investment partners across the full value chain of hotels, from initial feasibility through delivery to long term operation."

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