To facilitate the acceleration of its expansion efforts, Ovolo Group has launched TriO Capital, the dedicated investment and asset management that will focus initially on Asia-Pacific.
TriO, named after the three O’s in Ovolo, will provide a dedicated platform for the purpose of working with third party capital, to unlock value in underperforming hotel assets across the region and deliver strong returns for its investors.
It will enable the group to engage in aligned joint ventures and strategic partnerships while recycling its own capital and enhancing its asset management functions, as well as work with funds, developers and real estate owners.
Aiming to bridge the gap between equity and operator, TriO will source opportunities, conduct feasibility analyses, conceptualise the best use of the target asset and manage the entire project development process through to trading commencement – it will also look to asset manage non-Ovolo branded products to drive preferential returns.
“TriO was formed to offer the market a refreshed model to seize and deliver on impending opportunities across the region, all while still having skin in the game. As trading fundamentals for the industry return, we have the expertise to unlock the full value of any asset and deliver stronger yields and enhanced returns,” said Girish Jhunjhnuwala, founder and executive chairman of Ovolo Group.
Currently, TriO is preparing to sell one of its boutique designer Sydney hotels, 1888 by Ovolo, in a move to fund the group’s continued growth.
Tim Alpe, managing director of TriO Capital, shared: “The sale forms part of our strategic plan to recycle capital to further grow throughout Australia, New Zealand, and selected Asia-Pacific target markets. We have tripled our room count in the past five years, including adding two assets during the pandemic, which included a new build in Melbourne, Australia and an extensive refurbishment and rebranding in Bali, Indonesia.”
Ovolo is actively sourcing opportunities in Australia, New Zealand, and South-east Asia, with a long-term goal to take the brand global.
