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Leading Hotels of the World Launches Joint Venture

NEW YORK CITY-The Leading Trust is the result of a five-year business plan for the Leading Hotels of the World. The joint venture is expected to invest in luxury hotels and will start its efforts in Europe.

By Barbara Jarvie | Updated on August 07, 2003

NEW YORK CITY-The Leading Hotels of the World Ltd. has formed the Leading Trust, a real estate investment vehicle to be managed by Leading Hotel Fund Advisors, a partnership between affiliates of Leading Hotels and New York-based Trinity Hotel Investors LLC. The Leading Trust, designed to invest in luxury hotels in order to preserve their distinct cachet, history and charm, will initially focus on acquiring hotels in Europe.

The acquisition of hotels is the culmination of a five-year business plan for Leading Hotels to evolve from a hotel representation organization to a full service provider of products and services to the luxury hotel market sector. With the formation of the Leading Trust, the company signals that it will take a proactive role in protecting its member hotels by providing them access to capital for improvements or major renovations. Operational management for the Leading Trust’s owned hotels will be awarded through an RFP process led by Leading Hotel Fund Advisors.

“The Leading Trust provides a solution for hotel owners to sell or upgrade their properties, while preserving the market position of their hotels,” says Paul McManus, president and CEO of the Leading Hotels of the World. “Owners may not be amenable to bringing on an unknown equity partner or selling to a faceless brand.”

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