De Vere Hotels CEO Tony Troy is stepping down from his role at the end of the month to pursue other private investment opportunities with James Burrell currently chief financial officer at parent business Principal Hotel Company taking over.
Troy will however continue to support De Vere by taking on a non-executive director position.
A career hotelier with over 30 years in the industry, Troy has played a pivotal role in the growth of Starwood Capital’s Principal Hotel Company.
“Eight years ago, we embarked on an investment strategy aimed at consolidating more than 50 hotels across four different U.K. hotel companies to form a leading platform” said Cody Bradshaw, managing director, global head of hotel asset management, Starwood Capital. “Through Tony’s expert knowledge of the industry and his great entrepreneurial skills he made a significant contribution to the overall success of the strategy.”
Eventually Starwood turned its various acquisitions into two brands: Principal, landmark city hotels and De Vere, a collection of mansion house estates and hotels and event destinations with conference and leisure facilities.
In July 2018, the Principal portfolio was sold to Covivio. At the time it was agreed Troy would remain for a period of time to assist the transition of the remaining De Vere Group to become a standalone group in its own right. However, as a result of the Covid-19 pandemic, Troy chose to stay on to provide strategic support and direction.
Burrell, who joined Principal Hotel Company as chief financial officer in July 2014, is taking over from Troy.
“James is a proven executive with a successful track record of creating growth and value during his time with Principal, and we are incredibly pleased that he has agreed to continue his leadership role with De Vere as CEO,” Bradshaw said. “His leadership has been invaluable, particularly over the last two years, and we look forward to the Group continuing to thrive under his stewardship.”