Elanor Investors Group has appointed 1834 Hotels to manage all 18 hotel assets within the Elanor Hotel Accommodation Fund amid an ongoing divestment process.
The strategic arrangement aims to leverage the strength and resources of 1834 Hotels to maintain operational efficiencies and maximise the value of assets during this time.
“We are pleased to appoint 1834 Hotels, whose expertise and scale will ensure our hotels continue to operate at the high standards our investors and guests expect,” said Elanor Investors Group Managing Director, Tony Fehon.
“As previously announced, we are conducting an orderly divestment process for all of the hotel assets within the Elanor Hotel Accommodation Fund.
“1834’s robust management capabilities will allow us to continue to drive asset performance to maximise the return to the Fund’s securityholders.”
Several experienced Elanor team members will join 1834 Hotels to ensure a seamless management process for each hotel.
“We are proud to be entrusted with the custodianship of some of Australia’s most iconic hotel assets within the Elanor portfolio,” said 1834 Hotels CEO, Andrew Bullock.
“Our team looks forward to supporting the operational needs of these hotels and aligning with Elanor’s strategic goals during this transition.
“1834 Hotels is honoured to contribute to the next chapter for the Elanor Hotel Accommodation Fund, supporting the Elanor Investors Group as they continue to achieve positive outcomes across the group’s renowned Australian properties.”