TOP STORY Catalyst and Hero JV to develop serviced apartments in UK and Ireland UK: Catalyst Capital has formed a £500 million joint venture with Hero Enterprise of India to develop a range of hospitality assets, including serviced apartments. LATEST NEWS FEATURES VIDEOS Editor's comment
28-06-2019
• It's always en eye-opener when a global heavy hitter makes an entrance in to the European serviced apartment sector, and Catalyst Capital's tie up with Hero Enterprises heralds one such arrival.
Hero, which grew out of India's largest bicycle and motorcycle manufacturer, is headed by Sunil Kant Munjal.
Munjal is described as "a business promoter, an institution builder, a social entrepreneur, and angel investor". As well as real estate and hospitality, he has investment interests in the aerospace, healthcare, insurance, automotive, cosmetics, biotech and manufacturing sectors.
Catalyst itself is no minnow, with £1.7 billion of assets under management, and a development pipeline which includes a 224-key Staycity aparthotel in Manchester.
The JV has an initial war chest of £500 million to develop sites in the UK and Ireland but could soon be spreading its wings further afield too. Definitely one to watch.
To find out more about the investment landscape in the sector, don't miss next week's Serviced Apartment Summit Europe in London. Click here for more details and to buy tickets.
George Sell, editor
Katie Houghton
Group head of sales: +44 (0)7535 135 116
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