IHA STANDS FOR INDEPENDENT HOSPITALITY ASSOCIATES

– AND THAT’S EXACTLY WHAT WE ARE.

2 3 CONTENTS PAGE

WHAT IS IHA? 7 WHAT WE DO 9 OUR OPERATING PRINCIPLES 11 OUR VISION 13 HOW WE OPERATE 15 WE WILL MAKE IT HAPPEN 17 OUR RELATIONSHIP WITH YOU 19 WHY CHOOSE US 21 OUR PEOPLE AND EXPERIENCE 23 OUR CLIENTS 25 - CASE: D'ANGLETERRE 27 - CASE: METROPOLE 29 - CASE: PARC DES EAUX-VIVES 31

4 5 BUSINESS FACT:

READERS CHOICE INDEPENDENT HOSPITALITY ASSOCIATES 70% of all hotels on “Travel+Leisure’s Readers’ Choice Top 100 Hotels in the World 2017” are either independent or belong to small hotel collections.

Right now hospitality is all about a sense of belonging, WHAT IS IHA? technology, fine flavours, health & wellbeing. Through its expertise, IHA is at the forefront of marrying these trends together seamlessly.

INDEPENDENT Because we’re free to create: · We’re not tied to a chain or a brand · We bring to life hotel experiences that are as unique and individual as your property · We choose to work with the best people in their field from the world of Hospitality · We’re free to re-imagine and recreate your product rapidly, as the market and habits evolve

HOSPITALITY Because it’s our world: · We were trained in the best hospitality schools in the world - and our people have managed some of the most iconic five-star hotels in Europe · We’ve worked in the biggest brands too – and know that for many owners there’s a better way · We make it our business to know how the industry is changing – and how to exploit emerging trends · Our track record shows how we make change happen for the better - by exceeding our clients’ expectations

ASSOCIATES Because hospitality is a world of talent: · We’re industry experts who find the best people for you, for every role, from a talent pool as wide as the world · We hire expertise when we need it – not when we don’t – giving you the right people at the right time and at the right cost · We create alliances with the right consortia and suppliers that are the most relevant for you

6 7 INDEPENDENT HOSPITALITY ASSOCIATES

BUSINESS FACT: WHAT WE DO? EUROPEAN TRAVEL

IN A CHANGING MANAGE We manage your hotel: CONTRACTS · We have a spectrum of solutions for managing your property; from an advisory role to a full management contract. ENVIRONMENT · We’ll recommend the best solutions for your specific property, based on your objectives · The solutions can be both short term and long term TRAVELLERS WANT NEW EXPERIENCES Europe recorded 12 million more tourists in 2016 than in 2015 – making a total of 620 million international arrivals – despite safety and security concerns... CONCEPT We define the concept that fits the strategy: CREATION · Based on your needs and vision, we’ll work with you to create a new property from the very beginning For 2017, the UNWTO forecasts a further 2-3% growth · For an existing property, we know things change, and we’ll find the best concept to fit its individuality and location according to PWC. The sharing economy such as Airbnb · We’ll work with our associates to present you with the ideal concept in today’s market – always with a view to the is growing explosively, as travellers are looking for new future experiences. The successful hotels will adapt accordingly and offer guests similar “like-a-home” experience. IHA is constantly adapting to the needs of the guests.

MARKETING We market your product: · We’re not tied to one marketing channel, because for each property there are different “best” solutions · We identify the ideal partners and products, to ensure your hotel benefits fully and doesn’t waste resources on someone else’s brand · We’ll drive revenue to your business by selecting the right channels and marketing products

8 9 OUR OPERATING PRINCIPLES

AN OPEN HAND A HUMAN HEART A PERCEPTIVE EYE A BUSINESS BRAIN – We’re transparent; what – Relationships and respect – Our taste, our appreciation – The hotels we manage you see is what you get: the are part of our warm Nordic of design and our must deliver return on their way we work; the associates heritage and the bedrock of understanding of the owners’ investment and add we partner with; the fees we our business. We identify the subtleties of service enable value to their communities. charge – everything is open needs of both guests and us to achieve the right We continuously review how to your scrutiny. owners, and foster genuine ambience for your property. well we’re achieving your connections and partnerships We teach and empower our financial and sundry goals, to meet them. people to become genuine and how we can do better. hosts, able to respond sensitively to what they see. We help you create the memories guests will cherish.

10 11 WHY CHOOSE US - OUR VISION FOR HOSPITALITY

OUR VISION: A HOTEL FIT FOR THE FUTURE

BUSINESS FACT: All the researchers agree: travellers are looking for more We’re agile and responsive in a way that no chain can than luxury, more than experience. They’re looking for match, so when the market moves, we can too. fulfilment and belonging. Hotels are becoming a place where WE’RE AGILE AND RESPONSIVE Our senior team has the widest MAKE AN IMPRESSION people can feel part of a com- IN A WAY THAT experience at the highest level munity, involved in something and our unique structure – dra-

NO CHAIN CAN MATCH, SO ON THE WORLD STAGE meaningful. The experience wing on the industry’s best as is deeper because it changes “WHEN THE MARKET MOVES, associates – means we scale In recent years, Nordic chefs have had a monumental impact on the them or inspires them. WE CAN TOO” our business rapidly and adapt world’s culinary stage. They’ve reached the heights of the Bocuse faster to events. Your hotel d’Or and the rankings of the world’s best restaurants. We understand this desire for lifestyle. We know how stays relevant and exciting for guests even as the mar- to interpret it in a way that fits the property, uniquely. ket shifts. IHA understands what it takes to make a dramatic statement in an environment where customers are ever more discerning and margins are ever tighter.

12 13 WHY CHOOSE US - OPERATING PRINCIPLES

THE STORY OF HOW WE OPERATE

BUSINESS FACT: Our task is to elevate the potential that’s in your pro- will constantly tend it with skill and care, nurturing it so perty, enhancing its features for guests to appreciate. that it fulfils its promise, gloriously, and is enjoyed sea- Imagine a splendid garden with superb lawns, glorious son after season by everyone who visits. Created by a flowers and magnificent trees; a riot of colour and at- unique combination of diligence, expertise and inspirati- ALL THINGS GREEN mosphere. We are like on the garden achie- IHA takes environmental sustainability very seriously. We the team of dedicated, ves its full potential. expert gardeners using -IT’S NOT ABOUT US, IT’S ABOUT YOU This is how we work. search for the best initiatives, be it during the construction AND YOUR PROPERTY phase or in daily operations to focus on reducing our en- our skills, experience vironmental impact. and day-to-day atten- tion to create something wonderful, unique and even We understand what makes your property special – its spiritual. When visitors have an uplifting, memorable place in history and the wider community. Its quirks experience, our work is a success. Why? Because it’s and potential. How it could be transformed – and when not about us, it’s about you and your property. nothing should be changed. And we understand the vision you have for it, how you want to see it shine, the For your garden to thrive you need expert gardeners returns you need from it and the investment it will take who blend detailed knowledge of the environment, the to transform an existing property or bring to market an plants and the soil with creativity and flair. People who entirely new one.

14 15 WHY CHOOSE US - OPERATING PRINCIPLES

WE WILL MAKE IT HAPPEN BUSINESS FACT:

Then we make it happen, with as much or as little perso- ning the investment and required returns we’ll achieve, THE IMPORTANCE nal involvement as you want. We define the right always with transparency and open governance. strategy to achieve your vision and deliver results. We will implement the ideal systems for your hotel

OF TECHNOLOGY We create the bespoke concept and creative magic – selecting the most appropriate leading technology for as well as the practi- sales and marketing, IHA considers technology as a fundamental driving factor cal, efficient and cost finance and revenue in its properties, not only to meet the needs and demands WE WILL IMPLEMENT THE IDEAL SYSTEMS effective systems for FOR YOUR HOTEL – SELECTING THE MOST management. of today’s customers and to enhance their experience, but everything. also to achieve a healthier bottom line. APPROPRIATE LEADING TECHNOLOGY FOR We’ll develop specific Our bespoke approach SALES AND MARKETING, manuals and behavi- applies to running the FINANCE AND REVENUE MANAGEMENT ors to recruiting and business too. We create training the right the business model specifically to meet your needs. people, with detailed and completely bespoke manuals for Together we’ll establish the right profit goals, determi- the local environment, so that your brand comes to life.

16 17 WHAT TO EXPECT FROM US

OUR RELATIONSHIP WITH YOU

BUSINESS FACT:

CREATIVITY AUTHENTICITY FLEXIBILITY OF INVOLVEMENT PROFITABILITY – from our core team and – an entirely made-to- STRATEGIC DIRECTION – being as hands-on in the – your investment goes

IT’S ALL ABOUT ME associates, tapping into measure solution – defining luxury as decision-making as you into your brand and your and collaborating with the to restoring, creating or traditional five-star, want – or not if you don’t property. No “big-group” According to UNWTO, 46 million people more have travelled international- best in the industry. managing that individual boutique lifestyle or – as we shape the overheads, no global ly in 2016 than 2015. This trend is continuing and translates into more hotel property, and making it something new. hotel together. brands to support; the guests and more revenue for the hoteliers who embrace the growing and shine. focus stays on making the changing market. property as successful as possible. A Deloitte report stated “It’s all about me: Customers want an outstanding, personalized experience.” IHA is poised to deliver this by incorporating the latest trends and technology into the world of luxury.

AGILITY TO CHANGE CONFIDENCE CLARITY ACCOUNTABILITY EXCELLENCE – to anticipate and meet – knowing that your IHA – because you are dealing – a team of like-minded – hand-picked people the trends that are emer- team shares your passion with people not corporati- partners and associates whose sole job is to make ging in the industry as the for the Hotel and being ons, you get what you see. who are hands-on and your hotel’s experience desires of guests change. able to reach them when No hidden agendas, no remunerated on real the most uplifting and you need to. huge payroll to support, results. memorable it can. no-one else’s brand to finance.

18 19 WHY CHOOSE US ?

OUR VISION · We know that times are constantly changing, and your needs and objectives change with them OF HOSPITALITY · The guests’ and travellers’ expectations change too and adaptation is vital for any business to survive · We know that the guests’ experience is most important and we always place their needs in the centre of everything we do

OUR OPERATING · An open hand PRINCIPLES · A human heart BUSINESS FACT: · A perceptive eye · A business brain

CUSTOMERS’ FAVOU R ITES OUR RELATIONSHIPS · We work with you as an owner to help you achieve your goals Research indicates customers are now favouring boutique hotels, lifestyle ho- · Our work ethics are anchored in our Nordic heritage, and are deeply linked with all our stakeholders tels and soft brand hotels. IHA is at the forefront of delivering profitable hotels · We know that no matter what the goals are, any business must be profitable to be sustainable matching these criteria.

Customers are shying away from the big brands whose value proposal cannot deliver true and memorable experiences to the guest. OUR PEOPLE · We’re a small and agile team. We work closely with you or report back periodically.: the choice is yours. AND EXPERIENCE · Our team members’ experience varies from independent hotels to full service and chain hotels, so the solutions we recommend come from our understanding of every angle · Our experiences and properties are proof that the IHA model constantly adapts to new challenges, and it works.

20 21 WITH EXPERIENCE OF SUCCESSFULLY CREATING AND RUNNING SOME OF THE BEST HOTELS IN EUROPE

OUR PEOPLE AND EXPERIENCE

IGNACIO GUTIERREZ LUCAS JOHANSSON WILLIAM DIXON TRINE COLDING SALES AND MARKETING MANAGING DIRECTOR FINANCE AND HUMAN RESOURCES CORPORATE DEVELOPMENT AND DEVELOPMENT With more than twenty-five With prestigious hospitality William has twenty years of Trine has thirty years of experi- years of experience with such degrees from both Les Roches international experience in ence in the travel industry and chains as Hyatt, Intercontinen- in Switzerland and Cornell hotel property management, large governmental organizations, tal and Majestic Hotel Group, University in the US, Lucas has restructuring and takeovers. with a focus on restructuring Ignacio has a proven record of over twenty years of manage- while working on efficiency accomplishment in Sales & ment experience in ultra-luxury William is a member of the studies and implementation. Marketing-driven business flagship properties throughout Chartered Institute of development and new Europe, including The Savoy in Management Accountants Training, development and openings. London, George V and Le (CIMA) and has lectured in cultural change management Crillon in Paris, Beau-Rivage the field of Hotel Management is Trine’s particular area of Ignacio has experience at the Palace in Lausanne and at Copenhagen Business expertise. highest levels of hospitality, d’Angleterre in Copenhagen. Academy. both on property and at Trine holds a Master’s Degree corporate offices in Spain, Lucas has successfully driven in Organizational Psychology Belgium, Africa & Denmark. several turn-arounds by from The University of Roskilde, adapting his vision to the Denmark. Ignacio studied Hospitality needs of a property and Management at CNEP in it’s owners. Madrid.

22 23 FOR THOSE WHO HAVE BOLD AMBITIONS

OUR CLIENTS

IHA is for owners who have a passion for their property It’s for high-end hotels from 50 to 200 rooms – but not and for its role – whether that’s its history, its place in the just any property. Hotels with character, personality, community or status as a precious heirloom. It’s also for and presence. Properties with a purpose that generate owners who have a bold ambition to create, position and atmosphere and memories to cherish. bring to market something new and ground-breaking.

24 25 CASE

D'ANGLETER R E

The legendary Hotel d’Angleterre in Copenhagen was All of this in the context of a city with Europe’s highest brought by the IHA team to new levels of luxury in salary rates and lowest unemployment, without com- splendor in 2013, after a two-year closure and head-to- petitive hotels to act as recruitment channels. We have toe renovation. Since its rebirth, it has won some of the built an involved, engaged workforce who enable us to world’s most prestigious awards, such as its placement change, grow and adapt to business needs, resulting in on the Condé Nast Traveler Gold List 2017. A central very high guest satisfaction. element of the rebirth was designing and implementing bespoke training and to fashion a unique service culture, Since its reopening we have successfuly managed to an approach that successfully meshed Nordic friend- double the revenue of the property by achieving a 3 fold liness with the highest standards of luxury hospitality. increase in ARR and a 76% increase in Food & Beverage performance.

The World’s Best Hotel Restaurant ★ Danish Travel Awards ★ Condé Nast Traveller Award: Hot list Best 2017 ★ Travel + Leisure: Voted one of the Best – Best Luxury Property in Denmark 2015 New Design Hotel 2014 ★ Tatler: 101 Best Hotels in the World Brunches in the World ★ Condé Nast Traveller: Readers’ Choice ★ Winner of Travellers’ Choice 2014 ★ Condé Nast Gold List 2017 Award #1 Spot in Scandinavia 2015 – TripAdvisor ★ Danish Beauty Awards: Best Danish ★  Featured in National Geographic’s ‘ Product – Amazing Space ★ Danish Travel Awards Luxury Collection’ 2017 - Best Hotel in Copenhagen 2014 ★ Nominated for Travel Advisory Award ★  2014 ★  Michelin Star 2017 – Best of the Best 2016 ★ Michelin Star 2014 Restaurant of the year 2014 – Marchal by ‘Den Danske Spiseguide’ ★ Nominee for Member of the Year in L ★ Condé Nast Traveller award: Hot List Best New Design Hotel ★ Condé Nast Traveller Readers’ Choice 2016 eading Hotels of the World – 2016 Award #1 spot for Scandinavia 2014 ★ Michelin Star 2016 ★ Red Dot – Best of the Best ★ Nominated for Virtuoso Best of the Best ★ Winner Travellers’ Choice 2016 ★ Travel + Leisure IT list: One of The Best – TripAdvisor 2015 New or Renovated Hotels 2014 Awards in the category of Best ★ Michelin Star 2015 Achievement in Design ★ Condé Nast Gold List 2016 ★ Travel + Leisure It List: one of The Best ★ Winner of Travellers’ Choice 2015 ★  Condé Nast Traveller: – TripAdvisor New or Renovated Hotels 2014

26 27 CASE

METROPOLE

In 2015, IHA, with the hotel’s owners, undertook the ment, the entire sales process, the maintenance of corpo- rebranding of the Swisshôtel Metropole, back to its historic rate contracts and to improve the status and conditions of identity as The Metropole, Geneva. A short-term strategy agreements with consortia and OTA’s. IHA also oversaw was devised to ensure long-term success and a smooth the seamless continuity of revenue and operations during transition to stability and continuity. the handover period and onward.

The hotel’s strong international presence was enhanced Additional efforts included the introduction of several new from day one, including an affiliation with Preferred Hotels, initiatives to increase revenue in F&B, thus meeting the a new website and strong sales representation in the U.S. owners’ goal of making the hotel a desirable destination for (POD). Steps were taken to optimize Revenue Manage- the local market.

28 29 CASE

PARC DES EAUX-VIVES

IHA’s reorganization of the property included reducing IHA also consolidated positions to achieve economies overhead payroll by 38% and creating a new website to of scale and increased F&B revenue by 21% in the first 6 increase its visibility and accessibility and to drive more months of 2017. Furthermore, the Restaurant was awar- business to the property. ded its first Michelin Bib Gourmand in 2017.

30 31 INDEPENDENT HOSPITALITY ASSOCIATES SA

Rue du Village 2 A Hovedvagtsgade 6, CH 1424, Champagne 1103 Copenhagen Switzerland Denmark

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www.independenthospitalityassociates.com