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Greenfield sites for hotel development are becoming increasingly hard to find across the whole of Europe. One of our key development partners in Europe has taken an innovative approach to hotel development in the key home market of the Netherlands and is expanding their horizons throughout Europe.

Building a new hotel requires significant investment for land, planning and construction; however, The Vincent Hotel Group (TVHG) has worked with IHG on a number of office conversion projects to create Great Hotels Guests Love in a number of key locations in The Netherlands.

About The Vincent Hotel GroupTVHG is a Dutch-based investment and development company, active in the hospitality and leisure market in major capital cities and airport locations in Europe. They have developed seven IHG branded hotels, currently operating in Europe with others in various stages of development and planning.

TVHG’s core business consists of the following two main activities:

• Development of hotels.• Operation of the hotel is via third

party manager Interstate

To date, TVHG and its shareholders have successfully developed several hotels from vacant office buildings. The Company currently operates, and is involved in, the development of several hotels in The Netherlands including: Schiphol Airport, Amsterdam, The Hague, Rotterdam, Utrecht and Arnhem, as well as several hotel developments in other European cities.

TVHG’s success is founded on its owners’ and co-founders’ extensive

knowledge of the hospitality- and real estate markets, their broad network of corporate relations and the ability to identify and close unique development- and acquisition opportunities.

An innovative approach to Hotel InvestmentMany cities and towns in The Netherlands saw growth in the 1980s and 90s through the creation of business parks and the abundant provision of office space. Building projects were prolific with local authorities generating revenue through the development and leasing of office space. This boom has led to oversupply and the current economic climate sees many of these buildings without lessees or being leased on un-favourable terms to the owner.

Bart van de Kamp, founder and CEO of The Vincent Hotel Group was quick to capitalise on market conditions. Over the past 17 years his involvement in the Hotel industry has been significant. With a development track record exceeding € 750 million, he has played a significant role in the Dutch hotel industry. He has extensive knowledge in operational, development, branding, legal and financial matters relating to hospitality and has the ability to see opportunities where others do not.

His broad network allows for an ability to match the right opportunity with the perfect operational and branding proposition, creating opportunities for him and his partners. In addition, he has led transactions on behalf of institutional investors and banks leading them into the hotel industry. Having worked in favourable and adverse market conditions, his operational knowledge also includes managing in difficult operational environments.

“IHG is not only one of the largest hotel companies. It also has a certain DNA of people. The people we work with are passionate people that are not only professional but also genuinely great “people” to work with. The personal relationship at all levels is open, warm, friendly and oriented towards solutions that work for all.”

Bart van de KampCEO, The Vincent Hotel Group

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“Holiday Inn Express is the right model for value-oriented guests who want a great night’s sleep in a high quality hotel. With high level finishes in guest rooms and versatile public spaces, we create a comfortable environment at an affordable price. With the great name of Holiday Inn and the strong distribution system, customers can be reached. In addition the limited service operating model allows for focusing on what guests really want. Besides the more affordable price, this also allows better interaction with guests.”

Bart van de KampCEO, The Vincent Hotel Group

The Conversion Model and Holiday Inn ExpressBart van de Kamp, and TVHG have solved a real business revenue problem for real estate owners. The oversupply of office space means that TVHG can assess the inventory of office stock, carrying out feasibility studies on a wide range of projects for hotel conversion. Detailed analysis of the location, potential market demand and conversion cost is carried out with the projected return on investment calculated. In many cases the ideal operator brand for these projects is Holiday Inn Express. Locations are in city-centres, business parks or at airports. This fits the brand profile and target guest of Holiday Inn Express. Brand standards are also ideally suited to this conversion process with room sizes, public spaces and amenity requirements being highly compatible with a property structure originally designed as office space.

There is still significant investment required. In most cases the building structure requires little change. Large open spaces can easily be converted to corridors and guest rooms, with existing windows and facia often requiring just minor modification. Investment funding varies from project to project. The building owner or TVHG can be primary investors with the resulting property being leased to TVHG as a fully operational hotel operating with a global brand.

TVHG’s development expertise coupled with with Interstate’s hotel operation track-record along with support from IHG and Holiday Inn Express ensures a successful outcome for the building owner; they will have a successful, profitable tenant on a long term lease giving stability in a difficult economy.

ConclusionThe Vincent Hotel Group has been a leading light in the conversion of offices to hotels. IHG has seen projects of this nature throughout Europe and expects conversion and change of use to be a significant contributor to the IHG pipeline.

“We have created a great working relationship with the teams at IHG focussed on creating Great Hotels Guests Love across Europe.”

Bart van de KampCEO, The Vincent Hotel Group

If you are a hotel developer or real estate owner, come and talk to us about conversion projects. Contact your local IHG Developer for further discussion and advice.

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Conversion ProjectsThe Vincent Hotel Group has opened a number of IHG branded properties and has several more currently in development. Projects include:

Holiday Inn Express Rotterdam – Central Station Opened May 2013 – 214 rooms

Holiday Inn Express Arnhem Opened April 2013 – 127 rooms

Holiday Inn Express The Hague – Parliament Opened December 2012 – 123 rooms

Holiday Inn Express Utrecht-Papendorp Opened August 2012 – 118 rooms

Holiday Inn Express Amsterdam South Opened May 2012 – 80 rooms

Holiday Inn Express Amsterdam – Sloterdijk Station Opened December 2011 – 254 rooms

Holiday Inn Express Amsterdam – Schiphol Opened April 2011 – 112 rooms

Holiday Inn Amsterdam Arena Towers, Holiday Inn Express Amsterdam Arena Towers Scheduled to open - 2014

Project DetailsHoliday Inn Express Amsterdam – Schiphol Opened April 2011 – 112 rooms

Project DetailsHoliday Inn Express Amsterdam – Sloterdijk Opened December 2011 – 254 rooms

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Project DetailsHoliday Inn Express Amsterdam South Opened May 2012 – 80 rooms

Project DetailsHoliday Inn Express The Hague – Parliament Opened December 2012 – 123 rooms

Project DetailsHoliday Inn Amsterdam Arena & Holiday Inn Express Amsterdam Arena Scheduled to open - 2014

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