2015 05 11 Exclusive-Ninety-F

Exclusive: 94 Feets big hotel sector ambitions - Hotel Management
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Exclusive: 94 Feets big hotel sector ambitions

by James Wilkinson on May 11, 2015 in Email Newsletter, Hotel News
94 Feets Managing Director, Dean Rzechta, talks to HM about the companys ambitions in the hotel sector on
the back of todays(May 11) Aloft Sydney announcement.
Dean, tell us about the companys background.
Were a family-run, Melbourne-based business. Myself, together with my brother, Jonty Rzechta, joined our
fathers hobby about a decade ago and created a business. My father, Henry Rzechta has been successful in
the property space for over 30 years. With his guiding and strong principles, weve successfully built a growing,
national business, primarily in the medium to high density residential sector and now looking to expand further in
the hotel sector.3
As a company we are not just interested in developing sites. We seek to create architectural and engaging
buildings that leave a legacy long after the project is complete. We specialize in challenging projects that require
a delicate balance of diplomacy, artistry and science.
Dean Rzechta primarily focuses on the front end identifying and securing the sites and taking ownership over the
architecture and planning phase. Upon approval, Jonty then steps up taking over the financial side of the
business bringing the project to life and securing all necessary funding arrangements. The brothers then both
side across the delivery phase of the project but in very different capacities.
http://www.hotelmanagement.com.au/2015/05/11/exclusive-ninety-four-feets-big-hot...
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Why hotels and not just stay with residential?

The hotel sector was a natural progression for us with the metrics and recurring annuity providing a very
compelling investment opportunity. Sydney CBD was the most attractive market for us to pursue with the sole
reluctance being an in depth understanding of local planning guidelines and restrictions.
After purchasing the 302 Pitt Street site in 2013 we considered several options, including more traditional and
accustomed concepts, but in the end were drawn by the strong performance and insatiable appetite of the
Sydney hotel sector.
Sydney is on the cusp of a new era and a hotel boom. There is almost a strange anomaly occurring in the market
for a myriad of reasons and I am led to believe the number of hotel rooms in Sydney today is less than that of a
decade ago. Couple this with all the positive data relevant to the hospitality sector and the fact that Sydney is the
highest performing market, makes it a very attractive option as a developer.
Why did you go with Starwood?
Partnering with Starwood from the beginning was really a no brainer, both operationally and reputation wise.
Their performance across their Sydney assets leads the nation and it was paramount that for any operating/day
to day management, we wanted the best. However, we had to run a competitive tender process and felt the Aloft
Brand the best strategic fit for 302 Pitt Street.
Why the Aloft brand for your Pitt Street site?
Why the Aloft brand? We felt that the location with the evident gentrification suited the brand and we have strong
views on the growth and potential catering to the next generation of traveller the tech savvy traveller. No other
brand services this traveller like Aloft does and potentially being Australias first was exciting!
Were also heavily design driven developers and a design led brand like Aloft allows us to have fun and explore
design aspects and opportunities with leading architects and designers, such as Scott Carver and Carmen
Glenister of Opera Studio Design, who we have engaged for this particular project. Its also exciting to be piloting
a new concept with these designers. We have huge confidence in the Aloft brand and the success it will enjoy in
a city like Sydney.
Future ambitions in the Australian hotel industry?
We are continuing to review opportunities in this space with a number of other hotel opportunities in both
Melbourne and Sydney under due diligence. We are still accepting that we are fresh to the sector but see it a
very compelling, exciting and satisfying strategic fit for family business and were keen to do more with Starwood.
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Exclusive: 94 Feets big hotel sector ambitions - Hotel Management

Exclusive: 94 Feets big hotel sector ambitions

Exclusive: 94 Feets big hotel sector ambitions - Hotel Management

Why hotels and not just stay with residential?

Comments are closed.

Exclusive: 94 Feets big hotel sector ambitions - Hotel Management

Exclusive: 94 Feets big hotel sector ambitions - Hotel Management

Hot beds: HM speaks to the leading bedding suppliers

Exclusive: 94 Feets big hotel sector ambitions - Hotel Management

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