UK: Hugo McNestry has been appointed as chief financial officer at CL Serviced Apartments ahead of the company's brand launch and renaming in Berlin on March 3rd.
McNestry has extensive experience in developing new hospitality
brands, and joins as CL Serviced Apartments is preparing to launch
its brand at the International Hotel Investment Forum in Berlin
(IHIF) in March.
He has held senior positions at Whitbread, was FD at Yotel as part of the team that launched the concept in Europe and the US, and most recently was CFO at Generator Hostels, helping to grow the brand from two to 12 properties in seven countries, in less than four years.
His brief is focused on raising development finance as well as managing the cash, tax and corporate and investor reporting and governance at CL Serviced Apartments - which will reveal a new name and branding at IHIF.
He said: "I'm delighted to join CL Serviced Apartments at such an exciting and crucial time. With backing from Oaktree Capital we are brilliantly placed to launch a concept we believe will take the serviced apartment and aparthotel sector by storm, and we can't wait to reveal our fantastic new brand in Berlin. Focusing on major cities in the UK and Ireland, we will offer a product that will stand out in the business travel landscape, and will offer our guests a great launchpad from which to work, collaborate and explore a new city."
CL Serviced Apartments CEO Max Thorne said: "Hugo is a great addition to our team and we're extremely pleased to welcome him just ahead of our brand launch at IHIF. His experience in rolling out vibrant and innovative hospitality concepts will be invaluable. We've already secured sites in London, Edinburgh, Aberdeen and Dublin, and have ambitious plans for our new brand."
CL Serviced Apartments is backed by global investment company Oaktree Capital Management, and has a £300 million war chest for development and acquisition.