Case study

The Future of Pro-invest Group Made in Sydney

“We are on schedule with five more hotels under construction, in Brisbane, Melbourne, Queenstown, Auckland and Sydney.”Ronald Barrott, Chief Executive Officer for Pro-invest Group.

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Front cover image courtesy of Pro-invest Group.

Pro-invest builds $1 billion hotel portfolio from NSW

Since launching in New South Wales (NSW), boutique investment

firm Pro-invest Group has opened four hotels and is building five

more in Australasia. Together, these hotels are projected to be worth

more than $1 billion.

Pro-invest Group is an investment firm focusing on private equity real

estate investments. It started in Dubai, United Arab Emirates and is led

by real estate development veteran Ronald Barrott.

When Barrott and his partners were considering starting an

investment business in Australia, the NSW Government had already

been helpful. It had introduced them to potential business partners

and other contacts, and advised them on registering their business.

The NSW Government’s promotion of the state and Australasia helped

convince Barrott and his associates of the potential of launching a

regional business from NSW.

“The NSW Government has been very encouraging and supportive in

all aspects,” says Barrott.

In 2013 Barrott and his partners set up a Pro-invest office in Sydney.

The firm has since become one of the largest hotel investment

providers in Australasia. It raises funds from major investors and uses

the money to build and operate hotels.

Pro-invest partnered with InterContinental Hotels Group to develop

Holiday Inn Express hotels in Australasia. In 2016, it opened Australia’s

first Holiday Inn Express in Sydney’s Macquarie Park. This successful

launch helped Pro-invest raise $300 million to develop more hotels

and build its brand in the country, according to Barrott, the firm’s

Chief Executive Officer. Given the successful roll out of hotels,

Pro-invest started Fund II with an additional $500 million target raise.

Pro-invest went on to open three more Holiday Inn Express hotels,

in Brisbane, Adelaide and Newcastle. As Barrott points out, the firm

has built significant business in just a short period of time. “We have

more than 633 rooms operational today,” he says. “In addition, we are

on schedule with eight more hotels under construction, in Brisbane,

two in Melbourne, one in Queenstown, two in Auckland CBD and

two in Sydney. Our target is to add 5000 rooms into the Australian

hospitality industry within the next five years.”

Once construction is complete, Pro-invest expects this portfolio of

hotels to be worth more than $1 billion.

Fast facts about Pro-invest Group

International investment firm which established its Sydney

office in 2013

Specialises in investing in and managing real estate assets,

particularly hotels

Is one of the largest hotel investment platforms

in Australasia

Employs 35 full-time staff members in its Sydney office

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Offering substantial business

Barrott attributes the firm’s

early success to the significant

opportunity in Australia’s

hospitality real estate market,

particularly in NSW. He says a

large segment of this market

remains unserved by other

international hotel brands.

Pro-invest’s hotels cater for

the ‘limited-service sector’,

targeting business and leisure

travellers looking for practical

but convenient amenities.

“The penetration rate of

our sector of the market is

limited at the moment in

Australia, leaving a substantial

amount of business for us to

develop into,” says Barrott.

Setting up a local team

For Pro-invest, having a local team

in Australia was crucial because the

business is involved in all aspects of

developing hotels—from identifying

locations and acquiring property

to constructing and managing

that property.

The firm has been very successful

in attracting skilled individuals

from within Australia, according

to Barrott. “One good thing about

Australia is that it has a very

good pool of experienced and

qualified people that you can hire

if you have the right offer and

environment,” he says.

Pro-invest now has 35 full-time

employees in its Sydney office.

“Our Australian office was set

up to look after Australasia,

and Sydney is the ideal location

for that,” says Barrott.

Pro-invest expects to add up

to eight more people to its

team in Sydney as it expands its

hotel development business in

Australasia. The firm is currently

raising between $500 million and

$600 million in equity for another

portfolio of 14–15 hotels. These

hotels are projected to be worth

$1.5 billion when completed.

Barrott expects that the

Australian economy will

continue to grow strongly

and support his firm’s expansion

plans. “If you look at economic

stability, Australia’s economy

has been second to none over the

last 27 years, with an average of

2.5% GDP growth,” he says. “No

matter what has been happening

at the political level, Australia

has demonstrated it has a very

robust economy.”

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Image courtesy of Pro-invest Group.555

Image courtesy of Pro-invest Group.6

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Learn more

The NSW Government assists businesses looking to establish, grow and

innovate in the tourism and financial services sectors by providing:

• market intelligence and information

• business case development

• assistance to identify suitable business locations

and partners in NSW

• familiarisation visits to NSW

• connections with government contacts and

the local business network.

The NSW Government offers a range of programs and initiatives to

support businesses to grow to reach their full potential in NSW.

The NSW Government Investment Concierge provides free,

comprehensive and confidential advice and services.

Contact our team today to explore the range of support we can

give to your company.

Contact usNSW Government Investment Concierge:

T: +61 2 8222 4888

W: invest.nsw.gov.au

Watch the video of Pro-invest Group:

invest.nsw.gov.au/case-studies77777

T: +61 2 8222 4888

W: invest.nsw.gov.au

TheFutureMadeHere

PUB19/209

© State of New South Wales through Department of Industry 2019.

The information contained in this publication is based on knowledge and understanding

at the time of writing (June 2019). However, because of advances in knowledge, users are

reminded of the need to ensure that the information upon which they rely is up to date and

to check the currency of the information with the appropriate officer of the Industry, Trade

and Investment team of NSW Government or the user’s independent adviser.