- 360 Capital Group (TGP) has bought 70 per cent of Hotel Capital Partners (HCP)
- HCP is a specialist hotel investor created by well-known hotel investor and operator Stephen Burt
- Under the deal, Stephen will join the group as a joint venture partner and Managing Director of HCP
- The company says it is starting to see significant opportunities in the hotel sector
- On market close, 360 Capital Group is up 1.05 per cent and is trading for 96.5 cents per share
360 Capital Group (TGP) has purchased 70 per cent of Hotel Capital Partners (HCP).
HCP is a specialist hotel investor, using third party capital to invest in hotels, hotel debt and management companies across all hotel classifications. It was created in 2000 by well-known hotel investor and operator Stephen Burt.
As part of the deal, Stephen will join the group as a joint venture partner and Managing Director of HCP.
The company says it is starting to see significant opportunities in the hotel sector and from partnering with Stephen extends potential opportunities.
Stephen has been in the hotel industry for over 30 years and is the Co-Founder of what is now called JLL Hotels & Hospitality Group. Currently, he is the CEO of Colliers Hotels Asia Pacific.
“I have known Stephen for over 20 years and have worked with him on the acquisition and growth of the Travelodge Portfolio back in 2005, as well as witnessing HCP growing several hotel platforms over the past 20 years under his
stewardship,” Managing Director Tony Pitt said.
“We are excited to have the opportunity to partner with Stephen in rebuilding and
capitalising on various hotel opportunities going forward,” he added.
On market close, 360 Capital Group is up 1.05 per cent and is trading for 96.5 cents per share.