Around the world

UK private equity house Henley Investments has channeled $100 million into five US developments from WaterWalk Hotel Apartments. Henley is the first non-US based franchisee to sign with WaterWalk, and will fund projects in Florida, New York and North Carolina.

Meanwhile, Select Properties has seen “a notable increase in GCC investment” since the launch of its CitySuites development in Manchester. The company says GCC investors have purchased 42 out of the 260 units over the last four months. The UAE investors were the most numerous, accounting for 30 per cent of the GCC sales, 24 per cent originating from Saudi Arabia and almost 20 per cent from Qatar.

Of course capital from other territories can only be attracted if you have a good idea and a sound business model. WaterWalk is the fifth brand developed by extended stay pioneer Jack DeBoer, the industry pioneer behind Residence Inn, Summerfield Suites, and Candlewood Suites. It combines apartment living and an extended-stay hotel into one facility, and looks set to gain serious traction across the US.

And Select Properties is selling the apartments at CitySuites individually, using the same model as the numerous successful branded residence developments in the UAE. Investors from that part of the world are familiar and comfortable with the model, and are happy to invest capital in an attractive project wherever it might be in the world, provided the numbers add up.