Pro-invest raises capital for Aussie Hotel Fund

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Pro-invest Group recently completed a A$300 million (US$222.5 million) capital raise for its inaugural Australian hotel fund.

Withers advised Pro-invest Group with a team including partners Robert Williams and Justin Gross, who both recently joined the firm from Ryan Lawyers, along with associate Vivian Chen and consultant Chris Greiner.

Williams heads Withers’ Asia-Pacific hotels practice, advising clients across the region on transactions in the sector, where he is recognized as a leading lawyer for corporate, finance and M&A matters. Gross has about 20 years’ experience in funds and M&A transactions in Europe and Asia-Pacific.

The two have advised Pro-invest Group on its Australian hotel fund since the group’s inception in 2010. Withers said it will continue to advise Pro-invest Group on the fund’s Australian and New Zealand hotel investments.

The fund will invest in Australian and New Zealand properties that will be developed into Holiday Inn Express branded hotels. The brand is franchised from UK-listed InterContinental Hotels Group. Pro-invest Group has committed to expand the size of its portfolio across Australia and New Zealand to 10 to 15 hotels.

Legal Counsel: Withers advised Pro-invest Group with the firm’s team comprising partners Robert Williams and Justin Gross, and associate Vivian Chen.