Hollywood, Florida | GuestInvest, the UK’s first condo hotel company, is expanding its portfolio of London-based properties to meet growing demand from US investors for European real estate.

GuestInvest CEO and founder Johnny Sandelson today announces the launch of Nest, a luxury 170-room hotel in Paddington, central London. Investors buy their own fully maintained room at Nest, stay there for free and receive a percentage of the room’s income, which is let out by the hotel on their behalf throughout the year.

Nest is conveniently located close to major transport links, within easy reach of Heathrow Airport, and minutes walk from Notting Hill and Hyde Park. Rooms are now on sale off-plan to US investors, with the hotel opening in early 2007.

Johnny Sandelson said: “The GuestInvest model gives buyers a fantastic opportunity to invest in what is undoubtedly one of the UK’s fastest growing property investment initiatives. We are really excited to be offering US investors this opportunity to buy rooms in our latest property, Nest.”

With London hotel occupancy rates at a high, Nest will offer savvy US investors strong financial returns as well as a convenient base to access the rest of Europe.

Rooms at Nest have been designed by exciting new UK architects Cowie Dalgleish Montgomery who, in an unique collaboration with leading British super yacht builders Pendennis, will apply boat builder ingenuity to the hotel’s design. Rooms will be tailored specifically to the business traveller, offering comfortable, contemporary yet affordable accommodation with 24-hour concierge service, and accessible international transport links. Guests at Nest will be offered the ultimate sleep experience with a choice of bespoke beds, handmade by world-leading manufacturer Savoir, who construct beds from natural materials for some of the world’s top hotels.

Rooms at GuestInvest’s debut condo hotel, Guesthouse West in Notting Hill, which opened in April 2004, sold out within weeks, and Nest is already selling well among UK and overseas investors.

The US condo hotel market reaches saturation as UK and Europe takes off

Condo hotels are gaining popularity in the UK and across Europe, with GuestInvest leading this burgeoning market.

The growing interest is evident as recent analysis from leading real estate service and money management firm, Jones Lang LaSalle, reveals that $475 billion was invested in commercial real estate globally in 2005. This figure is predicted to rise further in 2006 as investors scour the globe in search of a yield.

With a career spanning 15 years specialising in innovative luxury real estate projects, Sandelson has ambitious plans to expand GuestInvest’s portfolio beyond the UK. He plans to create a global network of condo hotels – potential markets include the US, Asia and Europe – allowing room owners and hoteliers to benefit from an international room exchange programme.

With the US market becoming saturated, particularly South Florida, GuestInvest is an attractive alternative for US investors. According to Smith Travel Research, as of March 2006, condo hotel rooms make up 98,142 rooms or 19.5 per cent of the hotel rooms currently under development in the US.

Who’s buying condo hotels?

Condo hotels are often owned by suburban baby boomers, using stock market profits after the dotcom collapse and favorable interest rates to buy a second home in major cities. Real estate investments are also rising among ageing populations, pension funds and individuals, as priorities switch from growth to income.

“Our buyers are classically early adopters. They are very clever, they have money and they can see where the growth in property investment is going to come,” said Sandelson.

About GuestInvest | GuestInvest, created by seasoned UK developer Johnny Sandelson, is a scheme designed to promote the sale of hotel rooms to investors, launched in April 2004. Under the GuestInvest concept, investors can buy their own room in a hotel, stay there for free and receive a return on their investment by allowing the hotel to let the room out for the remainder of the year.

For more information on GuestInvest and Nest, please visit or call +44 (0) 20 7747 6880.

Contacts:
Cheryl Gale and Stephanie Rubino
Phone: 617-475-1571 and 617-475-1574
Email: [email protected] and [email protected]