The Sirius Hotel Group, formerly Resident Hotels, is using its name change as a path forward to expand its portfolio of owned and managed hotels.
Matt Lederer, director of acquisitions at The Sirius Hotel Group, joined the latest episode of “The Upgrade: EMEA Hospitality News.” The company is keeping its owned-and-operated hotel brand The Resident, he said. But its managed hotels — currently all affiliated with Marriott International's brand Four Points Flex by Sheraton — may be joined by assets from both Marriott and other hotel brand companies.
The Four Points Flex portfolio started when Sirius’ owner, Mactaggart Family & Partners, acquired a majority stake in Sleeperz Hotels Group in late 2022 and converted its hotels after signing a franchise agreement with Marriott, Lederer said.
The plan allows “for multiple brands under one umbrella, one operating company, and with the acquisition of [the Sleeperz] portfolio … it felt, I think, all in all, the right time to rebrand and be ready for the next five to 10 years where we hope to take the portfolio from nine hotels now to 30-plus,” Lederer said.
The partnership with Marriott and the Four Points Flex brand gives Sirius first-mover advantage and the ability to shape that brand’s hotel offerings and market recognition, he added.
“When you are early in to a brand and its growth story, that can be beneficial from a commercial perspective. You obviously benefit from that initial push that the franchisor will be giving that brand from a sales and marketing perspective,” he said. “But really it is about fit. … It is trying to balance CapEx cost, program time, upside potential on the other end, marrying the vision on how hospitality should be delivered,” he added.
For more from The Sirius Hotel Group's Matt Lederer on the company's hometown of Edinburgh, how U.K. demand hotel is likely to pan out this summer, and more, listen to the podcast embedded above.