Resident Hotels is transforming its Sleeperz hotel portfolio into Marriott’s Four Points Flex by Sheraton brand, amid a surge in midscale conversion projects.
- Resident Hotels comprises four midscale Sleeperz Hotels located in Cardiff, Dundee, Edinburgh, and Newcastle upon Tyne, accumulating over 400 rooms.
- The strategic acquisition of Sleeperz in November 2022 enabled Resident Hotels to diversify into the midscale hotel segment.
- The transformation involves refurbishments backed by principal investors, expected to finish by 2025.
- Key figures highlight the importance of this partnership in fostering brand growth and harnessing extensive distribution networks.
Resident Hotels has entered into a franchise agreement with Marriott International to convert its existing Sleeperz hotel portfolio into the Four Points Flex by Sheraton brand. This strategic move aligns with the current trend of midscale conversion deals within the hospitality sector, enhancing Resident Hotels’ position as a versatile operator.
The Sleeperz Hotels portfolio, encompassing over 400 rooms, includes strategically located properties in Cardiff, Dundee, Edinburgh, and Newcastle upon Tyne. Resident Hotels acquired a majority stake in Sleeperz in November 2022. The acquisition aimed to diversify its offerings into the midscale segment, leveraging its expertise in managing city centre hotels.
David Orr, the chief executive of Resident Hotels, articulated the rationale behind the acquisition, stating, “The acquisition of Sleeperz was made strategically, allowing us to diversify into the mid-scale segment and optimise our skill in operating city centre hotels thereby increasing our appeal to real estate owners as a specialist operator.”
The conversion to Four Points Flex by Sheraton is supported by comprehensive refurbishments funded by Resident Hotels’ principal investors. These refurbishments are slated for completion in 2025, marking a significant milestone in Resident Hotels’ expansion strategy.
Kate Wallin, Senior Director of Development for Marriott International in the UK & Ireland, noted the increasing interest in conversion projects among developers and investors. Wallin commented, “This is an exciting deal that highlights the growth we are seeing in the midscale segment across the UK, and we look forward to working with Resident Hotels whose capability and reputation as operators is proven.”
Resident Hotels’ strategic conversion of its Sleeperz hotels to Marriott’s Four Points Flex by Sheraton marks a significant advancement in their operational growth and market presence.
