Resident Hotels has signed a franchise agreement with Marriott International to convert its four Sleeperz Hotels to the Four Points Flex by Sheraton brand.
The Sleeperz Hotels portfolio currently features over four hundred rooms across four properties in Cardiff, Dundee, Edinburgh and Newcastle upon Tyne, all of which will undergo the rebranding.
Following the purchase of a majority stake in Sleeperz Hotels by Mactaggart Family & Partners, the portfolio has been operated by Resident Hotels - also majority owned by the same family office - since November 2022.
The hotels are due to complete the rebrand in 2025 and will undergo a series of renovations funded by the Sleeperz Hotels’ principal investors.
What they said
Resident Hotels’ CEO David Orr said: Having reviewed the Sleeperz portfolio, the launch of Marriott’s new midscale brand proved timely, and we are closely aligned with Marriott International on establishing an operating platform from which we can grow this conversion-friendly brand, which is backed by industry-leading distribution. The appeal of this new relationship was also for the potential it has for rapid expansion across the UK, which is in line with our plan for growth.”
William Laxton, CEO of Mactaggart Family & Partners added: “We have always seen great potential in this portfolio and are confident that the combination of the Four Points Flex by Sheraton brand and the proven operational expertise of David and his team at Resident Hotels will drive exceptional returns. Our strategic move into midscale is in recognition of a balanced risk strategy deploying our specialist operating company covering the market segments with the best return potential.”
Kate Wallin, senior director - development, United Kingdom & Ireland at Marriott International added: “We continue to see significant interest from developers and investors in conversion projects, as they look to leverage efficiencies and gain access to our well-established loyalty, distribution, sales and marketing platforms and global customer base. This is an exciting deal that highlights the growth we are seeing in the midscale segment across the UK, and we look forward to working with Resident Hotels whose capability and reputation as operators is proven.”