A-list celebrities are spending their Hollywood cash in hotel investments across the world.
According to a report by JLL in 2016 more and more celebrities are investing their money in hotels.
Leonardo DiCaprio purchased a $1.75 million dollar island in Belize. Blackadore Caye is a luxury 68 villa eco-resort on 104 acres due for completion in 2018 by New York developer Delos.
The resort will feature an arc of floating suites built over the water and a network of artificial reefs and fish shelters.
Andy Murray's Cromlix Hotel in Kinbuck, Scotland has received consistently excellent reviews since its opening in 2014 and offers tennis coaching for guests.
Robert Redford's Sundance Mountain Resort remains one of the best in Utah with an art studio and theatrical events.
Robert De Niro has 32 restaurants and nine hotels include the Nobu Hotel in Manila, Philippines and planning to build an upmarket 83-bedroom project in London’s Covent Garden. His level of fame bought plenty of media interest in the project which in turn attracts customers.
Charlie MacIldowie, JLL’s Vice President in the Hotels & Hospitality Group said most actors are focused on the smaller hotels. 'Most hotels owned by celebrities are boutiques.' Di Niro's hotel The Greenwich in Manhattan’s Tribeca district attracts celebrities like Jennifer Lawrence and singer Katy Perry and that means it can charge top dollar and attract plenty of guests.
Michael Douglas and Catherine Zeta-Jones recently opened Ariel Sands resort in Bermuda. Jonathan Goldman, JLL’s Senior Vice President in Investment Sales, Hotels & Hospitality said 'Everyone is looking for a way to make a hotel a bit special and quickest way to do that is to get a celebrity on board. The star attraction helps hotel owners improve their occupancy rates and increase their prices.'
John Malkovich has been in partnership with two friends for over 16 years in the The Big Sleep a budget hotel chain in Cardiff in Wales. Most celebrities are focussed on high end boutique hotels so this is a change from the norm. When the flagship hotel opened in Cardiff Malkovch said, 'I do not see the point in doing something like this unless I am interested.' Malkovich has also taken an interest in the interior design of the chain.
Overall, hotels are proving to be an attractive investment sector in difficult economic times. “They used to be considered a specialist asset,” says Goldman. “But they’ve performed very well over the last few years And more investors – whether they’re a well-known face or a behind-the-scenes player – consider them now.”
Other celebrity owned hotels:
Hugh Jackman: Gwinganna Health Retreat - Gold Coast, Qld
Richard Gere: The Bedford Post Inn - Bedford NY
Clint Eastwood: Mission Ranch Hotel, Carmel - Califormina
Bono and The Edge : The Clarence Hotel - Dublin, Ireland
Oliva Newton-John: Gaiai Retreat and Spa - Brooklet, NSW
Information supplied by JLL