ibis Styles Hotel
Greenwich Peninsula, LONDON
ZONE 2, LONDON HOTEL ROOM INVESTMENT
8% RENTAL GUARANTEE
INVEST FROM ONLY £139,995
A PRIME HOTEL ROOM INVESTMENT OPPORTUNITY IN ZONE 2 OF LONDON WITHIN WALKING DISTANCE TO THE O2 ARENA
CONTENTS: Introduction The Hotel The 02 Greenwich Peninsula The Investment Management The Market The Team Partners Contact
Introduction Conceived by the developers Cherif Investment Properties and One Capital, the ibis Styles Hotel is a meticulous development of 50 rooms in a central location on the Greenwich Peninsula in Zone 2 of London. The ibis Styles Hotel will provide much needed accommodation to the over 2 million visitors to The O2 and competitive accommodation to business tourists visiting Canary Wharf. The hotel will be managed by Interstate Hotels the world’s leading global hotel management company with over 450 hotels and 82,800 rooms located around the world.
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Highlights
Invest from only £139,995 8% Rental Guarantee 67%+ Return on Investment over 5 years Walking distance to London O2 Arena Fully managed Escrow linked payment plan Defined exit strategy
ibis Styles Hotel | Greenwich Peninsula
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CONTENTS: 1. Introduction 2. Location 3. Greenwich Peninsula 4. The O2 5. The Hotel 6. The Investment 7. The Market 8. Management 9. The Team 10. Partners 11. Contact
PAGES: 04 05 08 12 20 24 26 28 30 32
2 MINUTES TO CANARY WHARF, 8 MINUTES TO LONDON BRIDGE AND 20 MINUTES TO BOND STREET... ibis Styles Hotel | Greenwich Peninsula
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PENINSULA CENTRAL HOTEL BY ibis STYLES
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The Hotel The developer has carefully selected ibis Styles as the brand for the hotel. Situated in the heart of cities and in other major centres of activity, each ibis Styles establishment has its own distinct personality reflecting a colourful, bright and energetic brand spirit catering to both individuals and families travelling for either business or leisure. Simplicity, interactivity, quality and conviviality are the brand’s core values. In a place that blends connectivity with design and comfort each ibis Styles room makes a liveable, multi-purpose space where everything has been specifically designed for guests to recharge their batteries, rest or work.
‘Each ibis Styles is unique: A colourful design and happy mood on every floor!’
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Standard Specification
✓ Fully furnished ✓ En-suite shower room with ✓ ✓ ✓ ✓ ✓
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boutique styling including porcelain tiles and designer fittings High quality furniture including luxury double bed Floor to ceiling black out curtains Wall hung LCD TV High speed 100MB broadband Secure entrance door with swipe access
Facilities in Summary
24 hour security Lobby with 24 hour reception Spacious dining area Hot food kitchen Laundry facilities Car parking available
ibis Styles Hotel | Greenwich Peninsula
Location, location, location… Central
5 minutes to University of Greenwich 5 minutes to Royal Borough of Greenwich 5 minutes to UNESCO World Heritage Site 6 minutes to National Maritime Museum 7 mnutes to Excel London 10 minutes to London City Airport
Located at the heart of the Greenwich Peninsula the ibis Styles hotel is less than a 10 minute walk or 1 stop on the bus to the O2 Arena Entertainment District, Ravensbourne University College, North Greenwich underground station and the iconic Emirates Airlift.
MM
1 stop to Canary Wharf
Walking distance to O2 Arena
North Greenwich Underground
North Greenwich Pier
ibis Styles Hotel
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5 mins to University of Greenwich
ibis Styles Hotel | Greenwich Peninsula
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The O2
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ibis Styles Hotel | Greenwich Peninsula
The O2 is a multi-billion pound entertainment district on the Greenwich Peninsula. At the heart of the venue is The O2 Arena attracting over 2 million visitors every year it is ‘The World’s Busiest Music Arena’, along with Entertainment Avenue a retail avenue larger than London’s Bond Street, a Super Nightclub set across 3 floors, a Multiplex Cinema, Exhibition Space, Piazzas, Bars and Restaurants.
Beyonce performing live at the O2 Multiplex Cinema
Concerts, events
Bars & Restaurants
Exhibition Space
ibis Styles Hotel | Greenwich Peninsula
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Greenwich Peninsula Overseen by the Mayor of London the Greenwich Peninsula is under going a £5 Billion redevelopment with a large mixed-usage waterfront development including a purpose built modern campus for the University of Greenwich, a major cruise liner ship terminal, new DLR station and a new waterfront shopping and entertainment district.
WITH IT’S UNPARALLED GEOGRAPHICAL LOCATION, GREENWICH PENINSULA FORMS THE GATEWAY TO LONDON AND GIVES RESIDENTS A UNIQUE OPPORTUNITY FOR LONDON LIVING.
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ibis Styles Hotel | Greenwich Peninsula
THE PRIME MERIDIAN MARKS THE START OF TIME. WITH THE TRANSFORMATION OF GREENWICH PENINSULA, IT ALSO MARKS THE START OF LONDON’S MOST EXCITING NEW DISTRICT. Inspiring vistas are central to life on the Peninsula. Private residences rise above 1.6-miles of prime Thames River frontage, offering unparalleled views of the water, the London skyline and Central Park. A new, thriving community will live among 190 acres of homes, schools, hotels, shops, and galleries, and have access to 48 acres of parks and public art of great British artists like Richard Wilson and Antony Gormley. Although you can reach London Bridge in only 8 minutes, the serenity of the Greenwich Peninsula suggests the centre of London is a world away.
OUTLINED BY 1.6 MILES OF THAMES WATERFRONT THE PENINSULA IS THE PERFECT COMBINATION OF CALM RIVERSIDE LIVING AND URBAN LONDON LIFESTYLE.
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Location
THE PENINSULA’S UNIQUE LOCATION ALLOWS FOR GREAT ACCESS TO AND FROM THE HEART OF LONDON BY LAND, AIR AND RIVER.
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ibis Styles Hotel | Greenwich Peninsula
The Peninsula is served by North Greenwich underground station, connecting the district to all aspects of London living. Residents have direct access via the Jubilee Line to:
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Canary Wharf (2 minutes) London Bridge (8 minutes) Waterloo Station (12 minutes) Westminster (13 minutes) Bond Street (20 minutes) East to Stratford International (8 minutes)
Above ground, the Thames Clipper, a commuter boat service, departs for the London Eye whilst, overhead, the Emirates Air Line Cable Car ferries passengers over the Thames to the Siemens Crystal and Excel Centre.
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The Investment Room Types
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ibis Styles Hotel | Greenwich Peninsula
ROOM TYPE: Standard £139,995 From 15m2 the standard room is ideal for those looking for a comfortable yet economical stay featuring the ibis Styles signature luxury double bed, en suite bathroom with power shower, hair dryer and free toiletries. The room has a TV with a wide selection of pay-per-view movies, tea and coffee-making facilities. Complimentary internet access provided.
Conservative YEAR 1
YEAR 2
YEAR 3
YEAR 4
YEAR 5
OCCUPANCY ROOM RATE OTHER (F&B, Telephone etc.) GROSS RETURN RUNNING COSTS (inc. FF&E reserve) SERVICE CHARGE GROUND RENT NET RETURN YIELD
75% £80 £4,264 £26,164 £15,544 £900 £150 £9,570 8% Guaranteed
78% £86.40 £4,609 £29,607 £16,862 £900 £150 £11,295 8.37%
81.12% £91.58 £4,803 £31,920 £18,777 £900 £150 £12,093 8.37%
81.12% £93.42 £4937 £32,597 £19,446 £900 £150 £12,080 8.95%
81.12% £95.28 £5078 £33,291 £19,896 £900 £150 £12,334 9.14%
ACCUMULATED (inc. 2% capital growth per annum)
10%
20.37%
31.33%
42.28%
53.42%
YEAR 2
YEAR 3
YEAR 4
YEAR 5
Average YEAR 1
OCCUPANCY ROOM RATE OTHER (F&B, Telephone etc.) GROSS RETURN RUNNING COSTS (inc. FF&E reserve) SERVICE CHARGE GROUND RENT NET RETURN YIELD
82.5% £80 £4,505 £28,595 £16,600 £900 £150 £10,945 8% Guaranteed
85.80% £86.40 £4,609 £31,861 £18,481 £900 £150 £12,330 9.13%
89.23% £91.58 £5075 £34,904 £20,114 £900 £150 £13,740 10.18%
89.23% £93.42 £5215 £35,640 £21,859 £900 £150 £13,731 10.17%
89.23% £95.28 5361 £36,395 £21,321 £900 £150 £14,024 10.39%
ACCUMULATED (inc. 2% capital growth per annum)
10%
19.13%
31.31%
43.48%
55.87%
YEAR 2
YEAR 3
YEAR 4
YEAR 5
Buoyant YEAR 1
OCCUPANCY ROOM RATE OTHER (F&B, Telephone etc.) GROSS RETURN RUNNING COSTS (inc. FF&E reserve) SERVICE CHARGE GROUND RENT NET RETURN YIELD
90% £80 £4,747 £31,027 £17,657 £900 £150 £12,320 8% Guaranteed
93.6% £86.40 £5,001 £34,518 £20,084 £900 £150 £13,385 9.91%
95.47% £91.58 £5,284 £37,199 £21,174 £900 £150 £14,974 11.09%
95.47% £93.42 £5428 £37,981 £21,964 £900 £150 £14,967 11.09%
95.47% £95.28 £5579 £38,783 £22,450 £900 £150 £15,283 11.32%
ACCUMULATED (inc. 2% capital growth per annum)
10%
21.91%
35%
48.09%
61.41%
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ROOM TYPE: Executive £149,995 From 18m2 the executive room is ideal for those looking for extra space and a functional working area featuring ibis Styles signature luxury double bed, en suite bathroom with power shower, hair dryer and free toiletries. The room has a TV with a wide selection of pay-per-view movies, a work desk, tea and coffee-making facilities. Complimentary internet access provided.
Conservative YEAR 1
YEAR 2
YEAR 3
YEAR 4
YEAR 5
OCCUPANCY ROOM RATE OTHER (F&B, Telephone etc.) GROSS RETURN RUNNING COSTS (inc. FF&E reserve) SERVICE CHARGE GROUND RENT NET RETURN YIELD
75% £90 £4,797 £26,164 £17,487 £1100 £150 £10,697 8% Guaranteed
78% £97.20 £5,185 £29,607 £18,970 £1100 £150 £12,638 8.54%
81.12% £103.03 £5,403 £31,920 £21,124 £1100 £150 £13,536 9.15%
81.12% £105.09 £5,554 £32,597 £21,900 £1100 £150 £13,522 9.14%
81.12% £107.19 £5,713 £33,291 £22,383 £1100 £150 £13,819 9.34%
ACCUMULATED (inc. 2% capital growth per annum)
10%
20.54%
31.69%
42.83%
54.17%
YEAR 2
YEAR 3
YEAR 4
YEAR 5
Average YEAR 1
OCCUPANCY ROOM RATE OTHER (F&B, Telephone etc.) GROSS RETURN RUNNING COSTS (inc. FF&E reserve) SERVICE CHARGE GROUND RENT NET RETURN YIELD
82.5% £90 £5,069 £32,170 £18,675 £1100 £150 £12,244 8% Guaranteed
85.80% £97.20 £5,404 £35,844 £20,791 £1100 £150 £13,803 9.33%
89.23% £103.03 £5,709 £39,267 £22,628 £1100 £150 £15,389 10.40%
89.23% £105.09 £5,867 £40,095 £23,467 £1100 £150 £15,378 10.39%
89.23% £107.19 £6,031 £40,944 £23,986 £1100 £150 £15,708 10.61%
ACCUMULATED (inc. 2% capital growth per annum)
10%
21.33%
33.73%
46.12%
58.73%
YEAR 2
YEAR 3
YEAR 4
YEAR 5
Buoyant YEAR 1
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OCCUPANCY ROOM RATE OTHER (F&B, Telephone etc.) GROSS RETURN RUNNING COSTS (inc. FF&E reserve) SERVICE CHARGE GROUND RENT NET RETURN YIELD
90% £90 £5,341 £34,906 £19,864 £1100 £150 £13,792 8% Guaranteed
93.6% £97.20 £5,626 £38,833 £22,594 £1100 £150 £14,989 10.13%
95.47% £103.03 £5,945 £41,849 £23,821 £1100 £150 £16,777 11.34%
95.47% £105.09 £6,107 £42,729 £24,709 £1100 £150 £16,769 11.33%
95.47% £107.19 £6,276 £43,631 £25,256 £1100 £150 £17,124 11.57%
ACCUMULATED (inc. 2% capital growth per annum)
10%
22.13%
35.47%
48.80%
62.37%
ibis Styles Hotel | Greenwich Peninsula
ROOM TYPE: Family Suite £179,995 At 29.5m2 the family suite is ideal for executives and families with 2 interconnecting suites featuring ibis Styles signature luxury double or twin beds, en suite bathroom with power shower, hair dryer and free toiletries. The suite has a TV, pay per view movies, a work desk, tea and coffeemaking facilities. Complimentary internet access provided.
Conservative YEAR 1
YEAR 2
YEAR 3
YEAR 4
YEAR 5
OCCUPANCY ROOM RATE OTHER (F&B, Telephone etc.) GROSS RETURN RUNNING COSTS (inc. FF&E reserve) SERVICE CHARGE GROUND RENT NET RETURN YIELD
75% £120 £6,396 £39,246 £23,316 £1300 £150 £14,479 8% Guaranteed
78% £129.60 £6,913 £43,810 £25,293 £1300 £150 £17,067 9.48%
81.12% £137.38 £7,205 £47,880 £28,165 £1300 £150 £12,093 10.15%
81.12% £140.12 £7,405 £48,895 £29,199 £1300 £150 £18,245 10.14%
81.12% £142.93 £7,617 £49,936 £29,844 £1300 £150 £18,641 10.36%
ACCUMULATED (inc. 2% capital growth per annum)
10%
21.48%
33.63%
45.77%
58.13%
YEAR 2
YEAR 3
YEAR 4
YEAR 5
Average YEAR 1
OCCUPANCY ROOM RATE OTHER (F&B, Telephone etc.) GROSS RETURN RUNNING COSTS (inc. FF&E reserve) SERVICE CHARGE GROUND RENT NET RETURN YIELD
82.5% £120 £6,758 £28,595 £42,893 £1300 £150 £16,543 8% Guaranteed
85.80% £129.60 £7,205 £31,861 £47,792 £1300 £150 £18,621 9.19%
89.23% £137.38 £7,613 £34,904 £52,355 £1300 £150 £20,735 11.52%
89.23% £140.12 £7,822 £35,640 £53,459 £1300 £150 £20,721 11.51%
89.23% £142.93 £8042 £36,395 £54,592 £1300 £150 £21,161 11.76%
ACCUMULATED (inc. 2% capital growth per annum)
10%
21.19%
34.71%
48.22%
61.98%
YEAR 2
YEAR 3
YEAR 4
YEAR 5
Buoyant YEAR 1
OCCUPANCY ROOM RATE OTHER (F&B, Telephone etc.) GROSS RETURN RUNNING COSTS (inc. FF&E reserve) SERVICE CHARGE GROUND RENT NET RETURN YIELD
90% £120 £7,121 £46,541 £26,485 £1300 £150 £18,606 8% Guaranteed
93.6% £129.60 £7,501 £51,778 £30,126 £1300 £150 £20,202 11.22%
95.47% £137.38 £7,926 £55,798 £31,762 £1300 £150 £22,587 12.55%
95.47% £140.12 £8,142 £56,971 £32,945 £1300 £150 £22,576 12.54%
95.47% £142.93 £8,368 £58,174 £33,675 £1300 £150 £23,049 12.81%
ACCUMULATED (inc. 2% capital growth per annum)
10%
23.22%
37.77%
52.31%
67.12%
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Secure Exit Strategy There is a strong demand from institutional and individual high net-worth investors to purchase prime hotel assets in London. Upon completing the initial 3 year period of stablisation once the hotel has reached is optimum occupancy levels the developer will look to actively market the hotel in its entirety with a running track record and established yield to relevant investors through its private network.
The developer retains the option to buy back the hotel after Year 3 with a minimum uplift of 10% on the purchase price paid. It is realistic to assume this option will be exercised around Year 5 giving an accumulative capital appreciation of 2% per annum.
Investment timeline Now Reservation completed and £2,500 deposit paid. Solicitors instructed and contracts issued.
 First installment of 30% due.
 Exchange of contracts. November 2014 Construction of Ibis Styles Hotel by ibis Styles commences. March 2015 Second installment of 25% due August 2015 Third installment of 25% due. December 2015 Practical completion of hotel. Final installment of 20% due. January 2016 Hotel opens doors for trade. April 2016 First rental returns paid. Rental returns will be paid by Conqueror Holdings, the freehold owner of the hotel, on a quarterly basis along with an income breakdown for your room.
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ibis Styles Hotel | Greenwich Peninsula
ibis Styles Hotel | Greenwich Peninsula
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Management
Accor Group Accor S.A. is a French hotel group, part of the CAC 40 index, operating in 92 countries with more than 3,500 hotels and 450,000 rooms on 5 continents representing several diverse brands, from budget and economy lodgings to luxurious accommodations in exotic locations. Headquartered in Paris, France with more than 160,000 employees in Accor brand hotels worldwide, the Group offers to its clients and partners nearly 45 years of know-how and expertise. Brands owned by the Accor Group include ibis, hotelF1, Motel 6, Mercure, Novotel, Grand Mercure, Mei Jue, MGallery, and Sofitel. ibis represents Accor’s largest portfolio of hotels and resorts with 1,000 hotels in 59 countries. From 1997, ibis was the first economy hotel brand to be quality certified ISO 9001, an international standard outlining its commitment to service quality. 85% of the network is ISO 9001 certified. www.accor.com
Interstate Hotels & Resorts Interstate Europe Hotels & Resorts is a division of U.S. based Interstate Hotels & Resorts, operating hotels for owners under all major franchised lodging brands in North America, Europe, the United Kingdom, Russia, India and China. Interstate offers a complete suite of hotel management services in the United Kingdom with a UK-based team of hospitality professionals, providing hotel owners and developers with personalised attention and a focus on top line revenues and bottom line profits, every single day, at each and every hotel we operate. Their world-class management platform in the UK offers industry leading systems and solutions, experienced professionals, depth of resources, and valuable relationships with major global hotel brands.
www.interstatehotels.com
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ibis Styles Hotel | Greenwich Peninsula
The Market The London Hotel Market
With an average 82.4% occupancy in 2014 and demand growing, the London hotel market has seen significant growth in recent years. Development activity has occurred in all hotel categories although the majority of activity has taken place in the economy and four-star segments.
Demand and subsequent development in the economy hotel sector has been significant since 2005. Operators such as Travelodge and Whitbread (Premier Inn) have been the key drivers for growth within the sector having added 4,600 and 2,500 rooms respectively. The economy sector has also seen the emergence of new brands coming into the market including Tune Hotels and Z Hotels, in addition to the introduction of Accor’s diversified ibis brand which is now divided into two sub-categories alongside its core brand: ibis Styles and ibis Budget. With the recovery of the economy looming and an improvement on overall London performance in 2014 it is likely that the London market is set to grow within the coming years.
One of Europe’s most robust markets
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London Hotels - Historical and YTD Performance Trends
Occupancy (%) Average Room Rate (ARR £) RevPAR (£)
2008
2009
2010
2011
2012
2013
79.3% 122
80.4% 11 93
82.4% 124 102
82.3% 134 110
80.6% 138 112
82.4% 137 113
-3.9%
9.5%
8.4%
1.1%
1.5%
Y on Y Change in RevPAR Source: STR Global, Christie + Co Analysis
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ibis Styles Hotel | Greenwich Peninsula
A Global Tourism Destination
The London Tourism Market
• London is considered, and is certain to remain, a ‘must see’ destination and a global city, being ranked the first most visited city in the world in 2009 and the third most visited in 2010. • Leisure tourists are attracted to London for sightseeing, shopping, museums, culture, theatre, sporting events, concerts and to see the home of the British Royal Family. • Visitors are also driven to London for business purposes, with the City and Canary Wharf being home to the majority of corporate activity. • The UK, and particularly London has recently witnessed a number of extraordinary years during which tourism was boosted significantly. The Royal Wedding in April 2011, followed by the Queen’s Jubilee in June 2012, and the hosting of the Olympic Games in Summer 2012. • The city attracted 12.2m domestic visitors and 15.5m overseas visitors in 2013, excluding day visitors. Together these contributed £12.9bn to the local economy. This is the highest level reached since 2000, mainly due to the higher spending power that overseas visitors have been enjoying as a result of sterling’s weakness.
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Team Cherif Investment Properties is a UK company owned by Lord Beaverbrook, Max Aitken and Christian Yates. CIP manages certain real estate interests of the Beaverbrook Family Office, including residential developments and activities in London and Manchester.
Maxwell Beaverbrook
Max Aitken
Chairman
After working at Beaverbrook Newspapers he has since 1978 worked in the Aitken/Beaverbrook Family Office, overseeing a diversified investment fund. He was a Government Whip and Junior minister at the Department of
Trade & industry and served as Treasurer of the Conservative Party 1991-1992. He is the Chairman of the Beaverbrook Foundation and serves as Honorary Inspector General, Royal Auxiliary Air Force in the rank of Air Vice-Marshal.
One Capital is a Real Estate focused Private Equity company headed by Zeeshaan Shah. It specializes in the sourcing, investment, development and sales of investment property in the UK.
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ibis Styles Hotel | Greenwich Peninsula
Max is an entrepreneur in the property and energy space. Current interests include London residential property development, a fine jewellery business and Estover Energy, a developer of large scale biomass combined heat and power plants in the UK. He is also President and Chairman of the Beaverbrook Canadian Foundation.
Zeeshaan Shah
Christian Yates
Having started his career in financial services in 1988 he has worked for a number of investment houses holding senior positions at Bear Stearns Asset Management, Julius Baer, Chase Asset Management and Lazard Asset Management. Whilst his focus has been on building and managing businesses he has gained broad investment experience across many asset
classes including private equity, hedge funds, infrastructure and real estate. He played a leading role in establishing both Hazel Renewable Energy VCTs in 2010 whilst at Hazel Capital where he was a Partner between 2009-2012. He is a Director of Hazel Renewable Energy VCT2 plc and remains active, both as an investor and developer, in the field of renewable
Zeeshaan is a Real Estate entrepreneur who has developed a strong reputation for himself and his brand ONE in recent years. Having left university in 2006 Zeeshaan’s entrepreneurial instinct led him to Dubai where he started his career in the booming Emirates property market. Over the coming years he quickly established himself as a reputable agent in Dubai helping hundreds
of investors to successfully profit from the booming Dubai property market. In 2010 Zeeshaan ventured back to the UK and set up the business that has evolved to become One Investments - a leading UK and international property investment sales company based in London. In 2014 Zeeshaan set up One Capital as the Private Equity and Development arm of One Investments.
energy. He is now a private equity investor and Director of and Adviser to SMEs and funds covering a number of sectors including real estate, energy, natural resources and emerging technology. He sits on the advisory board of a UK wealth manager and is Chairman of Ansgate Barnes Holdco Limited, a developer of a ÂŁ30m residential development in Barnes, SW London.
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ibis Styles Hotel | Greenwich Peninsula
Partners Partners
Sweett Group Sweett Group is a global provider of professional services for the construction and management of building and infrastructure projects. They have an integrated network of 58 offices, in 18 countries, across five continents offering cost consulting and project management. Their services support clients through every stage of the project life-cycle based upon our international expertise and local knowledge. www.sweettgroup.com
Druces LLP Druces LLP are a leading London law firm with international coverage. In 2012 and 2013 they featured in the Legal 500 - a list of the UK’s top 500 legal firms. www.druces.com
Train and Kemp Train and Kemp are consulting structural, civil and environmental engineers specialising in building structures, brownfield regeneration, and sustainability. Their goal is to provide solutions and advice that add value for our clients. www.trainandkemp.co.uk
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Cherif Investment Properties 11-12 Dover Street Mayfair London W1S 4LJ +44 (0)844 502 2063
One Capital 26 York Street Mayfair London W1U 6PZ +44 (0)845 548 5454 info@onecre.com www.onecre.com
Contact Us
DISCLAIMER: Whilst Conqueror Holdings endeavour to make sales details accurate and reliable they should not be relied on as statements or representations of fact and do not constitute part of an offer or contract. The Seller does not make or give nor do we or our employees have authority to make or give any representation or warranty in relation to the property or offering. The information in this document (including but not limited to, photographs, illustrations, plans, dimensions, descriptions, tables, projections and prices) are for guidance only. While every effort has been made to offer current and accurate information, errors can occur. The exclusive rights to the name, trademarks and associated images of “ibis Styles’ are owned by an affiliate of the Accor Group. The Accor Group is not the owner of the hotel, will not operate the hotel, nor is it acting in any capacity in relation to this investment opportunity other than the owner of the ibis Styles names and trademarks. The hotel and this investment opportunity is owned and promoted by Conqueror Holdings who have entered into a hotel franchise agreement with the Accor Group to use the ibis Styles brand at the hotel. The Accor Group has not prepared these materials, does not endorse this investment opportunity, has not reviewed any financial statements or forecasts, nor does it accept responsibility for any of the statements herein.