We have advised hotel management company, RBH Hospitality Management, on its partnership with leading European investment company, Covivio Hotels. Marking its first continental European partnership, RBH will be taking on the management of The Principal York, Wotton House in Surrey, and The Met Hotel Leeds from the 1st of October 2022.
The signing of the three hotels supports RBH's aim of becoming the leading third-party management company in the luxury hotel market and comes on the back of the successful openings of The Westin London City and The Gantry London, Curio Collection by Hilton within the past 12 months.
This partnership marks a significant change in the third-party management sphere, as currently few luxury hotels are managed by white label third-party operators, and is a strong validation of RBH’s credentials in this space. RBH also underlined their market leading reputation for innovation by including in the management agreements a novel framework for introducing ESG focused strategies and policies at the hotels.
Commenting on the deal, head of our Hotels, Hospitality and Leisure group Richard Bursby said: "We are delighted to have supported RBH on its partnership with Covivio and have no doubt that the three hotels now under its management are in excellent hands. It was a pleasure working with David, Andrew and the RBH team and we look forward to seeing the business continue its impressive trajectory in the luxury hotel market."
David Hart, CEO of RBH Hospitality Management, added: "This is one of the most significant achievements in RBH’s growth in recent years. Developing a new partnership with Covivio Hotels, given their unparalleled reputation both here in the UK and across Europe, will be instrumental in our plan to disrupt the luxury market. We would like to thank the Taylor Wessing team for their fantastic service and strategic advice which were crucial throughout this process."
The transaction was led by partner Richard Bursby with support from associate Jack Wain.