Family office is actively seeking hotel assets with significant value-add or repositioning potential through construction, refurbishment, or extension. Open to a range of locations and asset sizes. Budget is flexible and will be determined by location, planning potential, and upside. Properties of interest include hotels requiring full or partial renovation, assets with unused development rights or planning consent for extension, conversion opportunities from commercial or residential use, and distressed or underperforming assets with strong underlying fundamentals. The principal has in-house construction capability and a track record of delivering hotel repositioning projects.