The specialist hotel operating company has signed a franchise agreement with Marriott International to convert its four Sleeperz Hotels to the Four Points Flex by Sheraton brand.
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.
A strong portfolio
The Sleeperz Hotels portfolio currently features over four hundred rooms across the four properties in Cardiff, Dundee, Edinburgh and Newcastle upon Tyne. The portfolio of midscale hotels is purposely located in the epicentre of their cities and close to mainline rail stations.
Resident Hotels’ CEO, David Orr said: “The acquisition of Sleeperz was made strategically, allowing us to diversify into the mid-scale segment and optimise our skill in operating city centre hotels thereby increasing our appeal to real estate owners as a specialist operator.
“Having reviewed the 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 innovative, conversion-friendly brand, which is backed by industry-leading distribution.”
“This agreement underscores our abilities as specialist city centre hotel operators. 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.”
The hotels are due to complete the rebrand in 2025 and will undergo a series of renovations funded by the Sleeperz Hotels’ principal investors.
Kate Wallin, Senior Director, Development, United Kingdom & Ireland, Marriott International added that the group continues to see significant interest from developers and investors in conversion projects.
“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.”
