Over the last forty years, Queensway Group has built a broad portfolio of interests in hotels, restaurants, coffee houses and property.
Point A Hotels represents a substantial investment and will comprise of seven properties by March 2017, all owned by Raag Hotels, a joint venture between Affiliates of the Queensway Group, the Wellcome Trust and Fifty Seven 7, a company owned by Naguib Kheraj.
The first openings will be in Glasgow and Shoreditch in March, where the London Shoreditch hotel is a new build offering 181 rooms and Glasgow is an exciting City Centre property which has been the subject of substantial remodelling with 122 rooms.
The remaining five properties are currently trading as part of the Tune Hotels portfolio, under a franchise agreement. These central London assets will be re-branded as Point A Hotels by the end of March 2017.
“Point A Hotels represents a change in strategic direction for Queensway,” says Naushad Jivraj, Queensway Group CEO. “Through owning and managing our own hotel brand we plan to deliver a greater return on investment for shareholders.
“We intend to grow Point A Hotels significantly over the next few years. We’ve seen an emerging trend in the hotel industry, with 64% of guests in the UK choosing budget accommodation as their preferred choice of hotel. Our aspiration is to become a well-loved affordable hotel brand with quality and reliability at our core.”
Point A Hotels will offer 1,100 rooms spread across its portfolio of seven hotels. Room rates are expected to range from as little as £39 a night in Glasgow and £69 in London offering a great hotel experience in sought after hotspots for both leisure and business travel.