the PREM GROUP story
It all started with Dublin’s First All-Suite Hotel
Back in 1989, a group of Aer Lingus pilots invested in Dublin's first all-suite hotel; Stephen's Hall Hotel, now one of PREM’s landmark properties, PREMIER SUITES. Jim Murphy was appointed the General Manager and eventually joined forces with two of the original pilots, Peter Redden and Gerry McNulty to establish PREM Group in 1996.
European Expansion
With the appointment of Jim Murphy as CEO, the following 10 years saw PREM Group create valuable links worldwide by partnering with Choice Hotels and Wyndham Worldwide with property expansion programmes into the UK and Belgium. These programmes saw the development of the serviced apartment brand PREMIER Apartments in the UK and the Days Inn, Days Hotel and Ramada Brands.
PREM Group began exploring opportunities in mainland Europe and in 2006 acquired the first small hotel group in Antwerp consisting of 3 hotels; Astoria Hotel, Leopold Hotel and Ramada Plaza Hotel. Following these acquisitions, the portfolio grows to incorporate 9 additional properties operating under the Crowne Plaza, Holiday Inn and Holiday Inn Express brands.
Introduction of Flexible Management Services
In 2009, PREM Group recognised that many hoteliers and operators want to tap into professional expertise for specific areas of their business but don't need a full management contract. This saw the birth of Trinity Hospitality Services. The flexible business model allowed hotel owners and operators to select from a list of specialised services which best suit the needs of their business including purchasing, revenue management, digital marketing, business development, IT and more.
Property Acquisitions & Investment
2014 saw PREM Group complete the purchase of two all suite hotels, PREMIER SUITES Dublin Leeson Street and PREMIER SUITES Dublin Ballsbridge.
The following two years PREM Group secured a €30 million investment with Proventus Capital and completed the acquisition of their landmark properties Osprey Hotel, Kildare and Cahernane House Hotel, Killarney. An extensive refurb programme gets underway for these properties totaling €16.8 million to date to include the addition of bedrooms, a state of the art spa, general furnishings, decor and resort development for a better guest experience.
Late 2018 saw the acquisition of Aspect Hotel Kilkenny, and in 2019 a €1 million renovation and re-brand project was completed under its new name The Hoban Hotel Kilkenny. Celebrity architect Hugh Wallace of Douglas Wallace Architects was responsible for previous renovation projects, once again oversaw the design.
Launch and Expansion of PREMIER SUITES
Our serviced apartment brand PREMIER Apartments re-branded to PREMIER SUITES in 2016. The following years saw expansion with openings in Reading (2016), Rotterdam (2017), a second property in Glasgow (2018) and Amsterdam (2020).
PREMIER SUITES are located in Ireland, United Kingdom and Continental Europe.
Trinity Purchasing
Trinity Purchasing work with more than 800 hotels and restaurants in Belgium, Luxembourg, the Netherlands, France, Germany, Ireland and the UK. They announced a procurement agreement with Choice Hotels International in 2017, this saw the former becoming a preferred procurement resource with exclusive rights to source branded products for some of Choice’s hotel brands, including Clarion, Comfort and Quality, in select European countries.
Trinity Purchasing were eventually bought over by Avendra in 2019 whom are owned by Aramark, a global leader in food, facilities management and contract catering. PREM group retain strong ties with Trinity Purchasing, remaining one of Trinity’s biggest customers.
The Establishment of Individual Business Units
The success of the purchasing division and increased diversity in its management services spurred on the decision to establish each business unit under PREM group in its own right, allowing each unit to gain better brand recognition with clients and customers.
In 2018 and 2019, PREM Group launched each of their five business units including our Hospitality Management Division PREM Hospitality, Revenue Management Software RateWise, Digital Marketing Agency Sprint Digital, Groups and Tours Services Trinity Hotel Groups and Professional Office Space Services Premier Business Centres. These businesses were established to service independent hoteliers and operators wanted to access specific areas of hospitality expertise without signing up for a full management contract. Our flexible business model means clients can simply select the services that best suit their current and changing needs.
PREM Group completes deal with Fortress Investment Group
In Dec 2021, PREM Group complete a landmark deal with Fortress Investment Group to implement an ambitious joint business plan to grow the company through acquisition of freehold hotel and serviced apartment properties in the UK, Ireland and continental Europe. Fortress acquired a majority stake in the business through an off-market acquisition of interests held by non-executive shareholders. Fortress will invest alongside our existing management team, who are reinvesting the majority of their equity interests, to implement an ambitious joint business plan to grow the company through the acquisition of freehold hotel and serviced apartment properties in the UK, Ireland and continental Europe. The expansion of PREMIER SUITES into target cities across Europe will be one of our top priorities.
Founded in 1998, Fortress manages approximately $53.9 billion of assets on behalf of approximately 1,800 institutional clients and private investors worldwide across a range of credit and real estate, private equity, and permanent capital investment strategies.
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