HAMA Europe announces Iconic Luxury Hotels as winner of the 2024 Asset Management Achievement Award
HAMA Europe was delighted to announce today at IHIF EMEA conference in Berlin, that Iconic Luxury Hotels has won this year’s prestigious HAMA Europe Asset Management Achievement Award for its Mayfair Townhouse project.
Iconic Luxury Hotels acquired the Hilton Green Park in September 2017 and operated it under the Hilton Brand until September 2018. Following a thorough feasibility study, market research and the underperformance of the asset, the decision was made to reposition and rebrand the hotel under the group’s own The Mayfair Townhouse brand.
The hotel underwent a transformation and full refurbishment and reopened as the 172-key The Mayfair Townhouse in December 2020. Iconic Luxury Hotels’ extensive market research revealed demand for a high-end townhouse-style hotel with exceptional service and a focus on essential food and beverage options.
Three years later, the hotel is performing exceptionally with a remarkable increase in revenues, nearly double their ADR and a substantial increase in profitability from before the rebranding.
The group used asset management strategies of repositioning and rebranding in line with guest needs to successfully create a new concept. This allowed them to elevate the property, while at the same time increasing operating efficiencies for greater profitability.
Current Chair of the Awards Committee, Harriet Durbin commented The HAMA Europe Award was established to recognise the key role played by hotel asset management in sustainably growing asset value and driving underlying investment returns. Iconic Luxury Hotels’ Mayfair Townhouse is an excellent example of the value provided by asset managers in the development, pre-opening and post-opening stages of an asset’s lifecycle, in an increasingly challenging operating environment
.
The award is co-sponsored by Questex Hospitality and HotStats and was presented at the IHIF EMEA conference during HAMA Europe’s breakout session on Tuesday 16th April 2024.
Some outstanding prior winners of this award include London & Regional Properties, Pyramid Hotel Group, Global Holdings, Starwood Capital, Amaris Hospitality, The Social Hub and Henderson Park & EQ Hotels, with investments that have covered both single assets and large portfolios, collectively demonstrating the breadth of the hotel asset management discipline.
For more information, please visit https://hama-europe.org/.
About HAMA Europe
HAMA Europe is an association of professional individuals who are dedicated to the enhancement of hotel and hospitality asset values.
The Hospitality Asset Managers Association (HAMA) Europe was founded in 2014 to provide European hospitality asset managers with intense semi-annual forums, industry communications and professional development. HAMA Europe promotes ethical standards of conduct and mutual respect among members and the hospitality industry.
HAMA Europe members are involved in asset management, acquisition, financing and disposition of hotels and resorts and are directly responsible for making decisions concerning capital investments, renovations, asset repositioning, operational policies and brand and management selection.
Our membership roster includes representation from institutional funds, individual owners, private equity investors, real estate groups and third-party asset management firms dedicated to the hospitality industry.
As a non-profit organisation, HAMA Europe, through its members presence at HAMA Europe meetings and industry events, continues to advance its stated purpose to promote the enhancement of hotel asset values.
About Iconic Luxury Hotels
Iconic Luxury Hotels was founded in December 2016 and is an expanding hotel company with an international focus. The collection of owned and managed hotels comprises an eclectic mix of properties each of which celebrates distinctive architectural style, cultural heritage, and natural surroundings. Each property has its own character, traditions, and stories but they share a common commitment to delivering outstanding experiences.
The current portfolio includes some of the world’s most famous hotels from Cliveden House, one of England’s finest country estates, to the Hotel Excelsior in Italy which is the home of the Venice International Film Festival. The other UK hotels comprise Chewton Glen, an English estate on the South Coast; The Lygon Arms, a 14th Century Coaching Inn in the Cotswolds; 11 Cadogan Gardens in Chelsea, one of London’s most prestigious residential neighbourhoods; The Mayfair Townhouse which sits in the heart of exclusive Mayfair; and the newest addition to the collection The Chelsea Townhouse, which opened its doors in September 2023. Later this year we will see the opening of the luxurious Palm House Hotel, in Palm Beach, Miami, Florida.
Iconic Luxury Hotels is part of L+R Hotels, a family-owned global hotel investment and management company with an extensive portfolio of more than 115 hotels, with 23,000 bedrooms across the UK, Europe, the US, and the Caribbean. With an evolving collection, ranging from select service hotels in Europe’s most sought-after cities, to opulent, five-star assets and breath-taking leisure resorts, many of which are in the world’s most exclusive locations, including Barcelona, Grand Cayman, Ibiza, London, Los Angeles, Mallorca, Monte Carlo, Turks and Caicos, Venice and more.
