Iconic Luxury Hotels scoops HAMA Europe Asset Management Achievement Award

Iconic Luxury Hotels has been awarded the HAMA Europe Asset Management Achievement Award for its Mayfair Townhouse project at IHIF EMEA.

The company acquired the Hilton Green Park in September 2017 and operated it under the Hilton Brand until September 2018. Following a feasibility study, market research and the underperformance of the asset, the decision was made to reposition and rebrand the hotel under the group’s own The Mayfair Townhouse brand.

The hotel underwent a full refurbishment and reopened as the 172-key The Mayfair Townhouse in December 2020.

Three years later, the hotel has seen an increase in revenues, nearly double its ADR and a substantial increase in profitability from before the rebranding.

The group used asset management strategies of repositioning and rebranding in line with guest needs to create a new concept.

The award is co-sponsored by Questex Hospitality and HotStats and was presented at the IHIF EMEA conference during HAMA Europe’s breakout session on Tuesday 16th April 2024.

Past winners include L+R, Pyramid Hotel Group, Global Holdings, Starwood Capital, Amaris Hospitality, The Social Hub and Henderson Park and EQ Hotels.

What they said

Harriet Durbin, current chair of the awards committee, said: “The HAMA Europe Award was established to recognise the key role played by hotel asset management in sustainably growing asset value and driving underlying investment returns. Iconic Luxury Hotels’ Mayfair Townhouse is an excellent example of the value provided by asset managers in the development, pre-opening and post-opening stages of an asset’s lifecycle, in an increasingly challenging operating environment.”