London (27 April 2022) – LaSalle Investment Management (“LaSalle”), the global real estate investment manager, is launching a €500m pan-European urban hotel aggregation strategy via a strategic partnership with NUMA Group, a leading European technology-driven alternative accommodation operator.
The strategic partnership, forming part of LaSalle's growing Value-Add Investments business line, will seek to acquire, refurbish and operate vacant or soon-to-be-vacant urban hotels, serviced and extended stay apartments, boutique hotels, as well as conversion projects from non-institutional or unbranded owners and owner-operators in Western European A-cities. Under the strategic partnership, these properties will be designed, managed, and operated by NUMA Group through its proven tech-enabled operating model.
The strategy will target properties in prime city-centre locations, providing an attractive exit solution for their current owners. A pipeline of 15 city-centre assets in the UK, Spain, Italy, and the Netherlands representing over €450m in value has already been identified.
The refurbishments are expected to take 6-18 months and will deliver rooms for short-, medium-, and long-stays, providing flexibility to optimise occupancy. LaSalle and NUMA Group will look to integrate various sustainability standards, including hybrid ventilation and water recycling strategies, which are intended to secure Excellent or Outstanding BREEAM assessments and help achieve net-zero carbon status across their portfolio by 2050.
Michael Zerda, Head of Debt & Value-Add Strategies at LaSalle, said: “This venture exemplifies the growing symbiosis between technology and real state. We are excited to help improve the urban short stay, long stay hospitality experience alongside a strong tech partner like NUMA.”
Blake Loveless, Head of Value-Add Investments at LaSalle, said: “As Covid restrictions ease across Europe, tourism-led markets in leisure travel destinations, as well as European city centres more generally, will continue to rebound. This strategic partnership with NUMA will capitalise on this by providing a trusted, high-quality, and tech-enabled product with seamless consumer experience in markets that have fragmented hotel stocks.”
Dimitri Chandogin, President, NUMA Group, explained: “The strategic partnership further strengthens NUMA’s position as the leading tech-enabled alternative accommodation provider. Our clear goal is to establish NUMA as the dominant solution provider for a completely new generation of hotels and short-stay accommodations in Europe. NUMA's strategic partnership with LaSalle is another milestone in institutionalising the alternative accommodation segment and offering a professional investment solution for the fragmented European hospitality market, especially for owner-operators.”
Philipp Rohweder, Director of Real Estate, NUMA Group, added: “Our partnership with LaSalle underscores our ability to offer institutional fully integrated and seamless tech-enabled hospitality solutions. We expect the hospitality sector to continue benefiting from ongoing megatrends, consumer shifts, as well as the overall post-pandemic recovery. With LaSalle, we have found a partner with strong real estate experience and network across Europe with whom we will continue our successful growth story in the European hospitality sector.”
About LaSalle Investment Management | Investing today. For tomorrow.
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q3 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.
Investing today. For tomorrow.
About LaSalle Value-Add Investments
LaSalle Value-Add Investments is part of LaSalle’s growing $10bn Debt & Value-Add Strategies platform in Europe and targets higher-return real estate equity investments across Europe, with a focus on conviction investment themes and dislocation opportunities. The business line was reconstituted in 2021, building on LaSalle’s long-term track record of European special situations and value-add equity investing and complementing the established opportunistic/value-add fund series in Asia and North America.
About NUMA Group
Berlin-based NUMA Group is the leading European digital hotel operator and technology developer. The company provides disruptive design hotels for modern travellers. A trusted partner for investors, owners, and developers, NUMA uses proprietary technology-based operating solutions that largely automate operations and increase cost efficiencies and revenues. NUMA successfully operates over 2,700 units in European A-cities, including Berlin, Munich, Rome, Milan, Madrid, Barcelona, and Vienna.