Strategic Advisory

Review of Prosper Cap Portfolio for DTGO

DTGO, a privately owned Thai investment group, had recently acquired and integrated Prosper Cap and its UK hotel portfolio of 17 assets. As new shareholders, they required an independent review of the portfolio to support year-end planning, investor dialogue, and long-term asset strategy. With refinancing on the horizon, DTGO needed an independent view of portfolio value and future potential, alongside clarity on the performance dynamics and market positioning of each property under their ownership.

The engagement was structured to deliver a defensible opinion of value while also testing the portfolio’s performance dynamics, operating structures, and capital requirements under new ownership.

Opinion of value: An analysis of trading performance, benchmarks, and five-year projections to establish a defensible view of portfolio value. This provided a robust baseline for year-end reporting and investor dialogue, and set a reference point for refinancing discussions.
Performance and positioning: Benchmarking against competitive sets and demand trends to highlight which hotels were defensively placed, where margin pressure was evident, and where repositioning or disposal could release value. The findings also clarified how asset performance would be viewed by both investors and lenders.
Contracts and structures: A review of franchise, lease, and management agreements to test the implications of existing operating models and brand alignments, including transition scenarios. This helped frame how operating choices and contractual frameworks shaped risk, return, and perception in the investment market.
Capital planning: An assessment of refurbishment programmes, brand-mandated upgrades, and infrastructure requirements to quantify their impact on future trading, while testing selective room count expansions to show where capex could translate into long-term value. This distinguished essential compliance spend from discretionary, value-enhancing investment, providing owners with clear capital priorities.

The review provided DTGO, with an current view of the portfolio, establishing a clear baseline of value and performance under their ownership. It clarified which hotels were defensively positioned, where operational upside could be unlocked, and how the portfolio would be viewed by lenders ahead of refinancing. Together, these insights gave DTGO both a defensible opinion of value and a portfolio-wide perspective on performance drivers, operating risks, and capital requirements — creating a clear platform for investor communications, lender dialogue, and forward ownership strategy.

Hospitality

Valuation and Transaction Advisory

Strategy and Planning

Assets