At a glance
- Company
- EVT Limited
- Announcement
- Acquisition
- Location
- Australia and New Zealand
Key figures
- Hotels covered by the transaction
- 15 hotels
- Rooms covered by the transaction
- approximately 3,200 rooms
- Pro-invest Group hotel network
- 30 hotels
People
- Ronald BarrottFounder and Chairman of Pro-invest Group
- Jane HastingsCEO of EVT
- Steve CarrollHead of Hotels & Hospitality for CBRE
Products and programs
August 31, 2025 -- EVT Connect Hospitality, the third-party management offering of EVT Limited, announces the acquisition of Pro-invest Group’s hotel management company. The transaction includes long term Hotel Management Agreements for 15 hotels across Australia and New Zealand, comprising approximately 3,200 rooms, operated under third party brands.
Pro-invest Group will retain asset management responsibilities for the 15 hotels owned by the three hotel investment funds via its fund management platform. The hotels will continue to operate under their existing brands, and for guests and partners, it will be business as usual. Completion of the transaction will be subject to informal clearance from the Australian Competition and Consumer Commission and certain procedural conditions precedent.
Pro-invest will retain its operating capacity and will continue to manage its VISTA hotels portfolio, while expanding its focus in commercial office, Flex living and other operational real estate investment opportunities, including BTR. Its fully integrated platform will continue to offer a suite of services across investment, development, asset management, and operations.
Since its inception, Pro-invest Group has demonstrated its ability to develop, open, and operate real estate assets, having grown to a network of 30 hotels across Australia and New Zealand.
“Our goal has always been to deliver high-quality, resilient assets that meet the evolving needs of modern travellers and investors alike,” said Ronald Barrott, Founder and Chairman of Pro-invest Group. “We will continue to focus on hotel asset management while expanding in the rapidly growing sectors of flex living, BTR, and mixed-use developments.
“This deal with EVT is the right deal to benefit both our investors and our people and will further enhance EVT’s growth trajectory”.
Jane Hastings, CEO of EVT said, “The launch of EVT Connect Hospitality, seeded by the acquisition of PIH, represents a further initiative to grow hotel earnings. EVT Connect Hospitality will further enhance EVT’s ability to deliver value for asset owners who seek to franchise a third-party brand, supported by the expertise of the PIH team and now boosted by the ability to leverage our extensive EVT Group expertise. We look forward to welcoming the PIH team to our Group.”
Said Steve Carroll, Head of Hotels & Hospitality for CBRE: “This is an exciting deal that will enhance the hotel operating environment across Asia Pacific. EVT Connect Hospitality will inject expertise and capability to drive operating performance of the hotels. This operating solution is widely used across North America and Europe, and we expect this model to continue to evolve and grow across Asia Pacific in future years. We congratulate both parties on this transformational deal.”
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Questions around this news
What is third-party hotel management?
Third-party hotel management is an arrangement in which a specialist operator runs a hotel on behalf of an owner, rather than the owner managing day-to-day operations itself. The operator may handle areas such as staffing, guest services, and operating performance under an agreement. The hotel can continue using a separate brand, depending on the arrangements among the parties.
What will Pro-invest Group continue to do after the transaction?
Pro-invest will retain its operating capacity and continue managing its VISTA hotels portfolio. It also plans to expand its focus in commercial offices, flex living, and other operational real estate investment opportunities, including build-to-rent. The release says its integrated platform will continue to provide services spanning investment, development, asset management, and operations.
How does asset management differ from hotel management?
Asset management focuses on protecting and improving the value and financial performance of a property for its owner. Hotel management deals more directly with running the property, including its daily operations and guest services. The responsibilities can be held by different parties, as the release describes for the hotels in this transaction.
