Barrows Hotel Enterprises – the provider of hotel investment and advisory services for hotels in the Middle East and Africa – is looking for 50 distressed hotels to buy in West Africa.
“The goal is to buy 50 distressed hotels with a total of 7 500 rooms and bring them together under the name Barrows Hospitality and Leisure Group,” said Barrows, which focuses on hotel companies with an immediate need for liquidity and well-functioning management.
The effects of the Global Pandemic have ensured that many hotel entrepreneurs are at a loss.
Hotels are being abandoned and the owners or operators are unable to revive the hotel after the long closure.
“We are giving the hotel a new life by carrying out sustainable renovations and bringing in a new management,” said Barrows in a statement distributed by The Bulrushes‘ partner, APO, on Monday.
Barrows is financing the acquisitions through long-term facilities with institutional investors and investment banks.
“Every week we are approached by investment banks that are interested in financing unique assets,” said the statement.
“Hotels are clearly one of those. We are specifically looking for Airport Hotels, Beach Resorts and Business Hotels.
“We add value to the asset and increase cash flow and profit.
“We offer investors a solid guaranteed return and their capital is guaranteed as well.”
Barrows Chairman Erwin Jager said his company was “offering a perfect solution for all parties”.
Barrows Hotel Enterprises internationally manages over 10 000 hotel rooms in more than 10 countries.
The company started in 2008 as a real estate investor in the residential market in Dubai.
Since 2012, Barrows has changed its strategy and the company is fully focused on the fast-growing hotel industry in the Middle East.
Since 2020 Barrows is active in the entire MENA Region including West Africa.
