Sidra Capital, the Saudi-based Sharia compliant asset manager, has transferred management of its Heathrow T5 hotel property to RBH.
The leading hotel management and services company will also oversee the phased refurbishment of the 297-bed hotel as well as its rebranding from Travelodge to Accor’s ibis Budget Heathrow T5.
RBH was selected by Sidra Capital to deliver the project and manage the hotel’s commercial operations based on the hotelier’s reputation and its growing portfolio of more than 45 hotels across the UK – including properties from top brands including IHG, Hilton, Accor, Marriott and Wyndham.
Hani Baothman, Chairman of Sidra Capital, said:
We acquired this undermanaged hotel with the long run intention of re-branding to realise it’s full potential.
The Travelodge CVA has provided an early opportunity to progress the strategy and we look forward to working with RBH and Accor to bring this new offering to Heathrow and the travel and leisure market. We are investing additional capital to ensure the hotel meets the demands of a future thriving market.”
Susan Bland, Managing Director at RBH, said:
We’re excited to extend a warm welcome to the hotel team as they become part of the RBH family, and cannot wait to see the property transformed over the coming months.
Not only does this represent yet another step in our growth alongside franchise partner, Accor, it also signals RBH’s return to the Heathrow market, where we opened our very first hotel in 2000.”
The capital works on the property will be overseen by RBH’s Chief Technical Officer, Gregor MacNaughton, and his team.
I am delighted to work with the team at Sidra Capital on what will be the fifteenth hotel rebrand managed by my team here at RBH.
Despite the challenging economic environment, at the moment, we are all focused on the long-term goal for this hotel – upgrading to a high standard, providing guests with fantastic service and maximising returns.”