Restructuring and Asset Management

Soric International has a full Restructuring and Asset Management division (RAM). We have worked on hotel asset in administration that need capital restructuring, brand and management positioning to exit out of administration. We specialise in building value into hotel or conversion assets.

With the extensive experience of working across the UK and European hospitality markets, RAM will optimise the performance of the assets and increase their long-term value to secure the best exit options when the time is right.

Current UK Projects

Residence Inn by Marriott

Kingsway House

Liverpool

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Project details

Summary:   

Residential block conversion of 132 residential units to 204 service Apartments to a Residence Inn by Marriott Hotel.

Project Highlights:   

  • Conversion Cost: £14 million
  • End Value £40 million
  • Acquisition Cost: £14 million

Property details:

  • 204 Service Apartments
  • Cafe restaurant
  • Gym
  • Car parking for 100 cars
  • Communal Area for work
  • Retail shop

Indigo Hotel Preston

by IHG Group

Preston

Project details

Summary:   

Conversion of an existing historic building into a Indigo Hotel by IHG.

Project Highlights:   

  • Acquisition Cost: £1 million
  • Renovation Cost: £8 million
  • Exit Value: £16 million

Property details:

  • 124 Bedrooms
  • All-day dinning restaurant
  • Fine dinning roof-top restaurant
  • Gym and Health Spa
  • Conference and Wedding Venue for 250 people
  • Retail shop

Leinster Gardens

Hyde Park, London

Project details

Summary:   

Redevelopment from 92 existing rooms to 171 rooms of a dormant freehold hotel spanning five interconnected buildings located near Hyde Park.

Project Highlights:

  • Acquisition Cost: £29 million
  • Projected Capex: £19m
  • Target GDV: £68 million
  • 29% IRR | 1.9 x MoIC | 41% Profit on Cost
  • Internal reconfiguration and conversion of under-utilised F&B areas to high-yield rooms
  • Capex-Driven NOI Growth

"Soric assisted USL to refinance an existing loan facility to reduce the cost of the company's debt and source debt for new hotel portfolio owned by our sister company Shelter Suites, enabling the rollout of hotel expansion strategy across Nigeria. Soric are highly efficient, driven and result oriented."

– Urban Shelter Limited-

"The knowledge, contacts and experience that Mark and the Soric team have brought to various projects has led them to become our go-to firm for sale and acquisition of properties; debt and equity sourcing missions, brand selection as well as hotel and resort management and/ asset management."

– Stein Hotels-