In a move that shakes up the hotel management landscape across Australia and New Zealand, EVT has announced the acquisition of Pro-invest Group’s hotel management company, Pro-invest Hotels (PIH). The deal lays the groundwork for a brand-new division—EVT Connect Hospitality—marking EVT’s official entrance into the booming third-party hotel management sector.
New division, familiar faces
Under the EVT Connect Hospitality banner, EVT will assume long-term management responsibilities for 15 hotels (approximately 3,200 rooms) currently operated under well-known international brands, including:
These properties, found across prime locations in Australia and New Zealand, will continue to operate under their current branding.
Pro-invest Group is not exiting the hospitality sector, however. The company will retain asset management responsibilities for the 15 hotels via its fund management platform and will continue operating its VISTA portfolio. With eyes now set on commercial offices, flex living, and Build-to-Rent (BTR) assets, Pro-invest is leaning into a broader range of real estate investments.
“Our goal has always been to deliver high-quality, resilient assets that meet the evolving needs of modern travelers and investors alike,” said Ronald Barrott, Chairman and Founder of Pro-invest Group. “This deal with EVT is the right deal to benefit both our investors and our people and will further enhance EVT’s growth trajectory.”
What to expect from EVT Connect Hospitality
The creation of EVT Connect Hospitality is a significant milestone for EVT, as it further expands its hospitality reach. The newly acquired management team brings deep industry know-how, now powered by EVT’s broader group resources.
Jane Hastings, CEO of EVT, said, “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 PIH team and now boosted by the ability to leverage our extensive EVT Group expertise.”
Pending final approvals—including a thumbs-up from the Australian Competition and Consumer Commission—the transaction is expected to close soon.
