It has unveiled EVT Connect Hospitality, a third-party management offering from EVT Limited, which has acquired Pro-invest Hotels.

The transaction includes long-term hotel management agreements for 15 hotels across Australia and New Zealand, comprising 3200 rooms operated under third-party brands.

Pro-invest Group will retain asset management of the 15 hotels owned by the three hotel investment funds via its fund management platform.

The hotels will continue to operate under their existing brands, and for guests and partners, it will be business as usual.

Pro-invest will retain its operating capacity and will continue to manage its VISTA hotels portfolio.

Since its inception, Pro-invest Group has developed and operated a network of 30 hotels across Australia and New Zealand.

“Our goal has always been to deliver high-quality, resilient assets that meet the evolving needs of modern travellers and investors,” says Ronald Barrott, founder and chairman of Pro-invest Group.

“We will continue to focus on hotel asset management while expanding in the rapidly growing sectors of flex living, BTR [build to rent] and mixed-use developments.

“This deal with EVT is the right deal to benefit our investors and our people and will further enhance EVT’s growth trajectory.”

EVT CEO Jane Hastings says EVT Connect Hospitality will deliver expertise and growth for the company’s hotel portfolio and drive its operating performance.

“The launch of EVT Connect Hospitality, seeded by the acquisition of Pro-invest Hotels, represents a further initiative to grow hotel earnings,” she says.

“EVT Connect Hospitality will further enhance EVT’s ability to deliver value for asset owners who seek to franchise a third-party brand, supported by the expertise of the Pro-invest Hotels team and now boosted by the ability to leverage our extensive EVT Group expertise.

“We look forward to welcoming the Pro-invest Hotels team to our group.”

Photo at top: iStock/Hispanolistic.