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Colliers Urges Rate Payers to Push Back on Business Rates Consultation as Deadline Approaches

Kenneth Booth August 17, 2021

Leading Ratings Agent Fears Businesses’ Ability to Appeal Higher and Higher Rate Bills will be curtailed if government proposals come into force… The government’s latest proposals on business rates (Government Consultation Paper on More Frequent Revaluations)* will create more difficulties for businesses appealing their business rates than benefits, according to

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COLLIERS INTERNATIONAL BOOSTS AGENCY TEAM AT INTEGRA 61

Kenneth Booth October 7, 2020

Citrus Durham has strengthened the agency team at Integra 61, the North East’s largest new logistics and manufacturing park, with the appointment of Colliers International to join existing agent Avison Young.  The agency team will jointly market the remaining 1m sq ft of industrial/logistics space and circa 80,000 sq ft

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BARINGS SHOWCASES TOUCH-FREE MANCHESTER OFFICES

Kenneth Booth August 25, 2020

Barings, one of the world’s largest diversified real estate investment managers, has announced  that its 180,000 sq. ft. Landmark office development at St Peter’s Square in Manchester City Centre offers occupiers a ‘touch-free’ experience due to a host of smart technology features. Technology forms an integral part of Landmark’s design,

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Latest Issue

BDC 319 : Aug 2024

colliers

Downwards Transition (Plus Inflation) Could Cost the Retail Sector £2.7 billion in extra Business Rates Says Colliers

Kenneth Booth September 14, 2022

With high inflation rates on the cards Ratings Experts tell  Government it’s even more important to abolish downwards transition to support beleaguered sector Business rates experts at Colliers are urging the government to remove fears that the expected cut to business rates bills for the retail sector in England will be significantly watered down by transitional relief –  to the cost of around £2.68 billion for the sector alone over the three years of the new 2023 list. And the highest inflation rates since the early 1990s have been making the situation worse. With August CPI announced today at 9.9% and expectations it will be 11% for September, Colliers is urging the government to announce it will pass on the expected reductions in business rates bills following the next revaluation in April 2023 immediately, rather than to phase them in slowly over the three years of the new list. In the first commercial property revaluation since 2017, retailers who currently pay about £7.625 billion of the £26 billion tax are expecting substantial reductions in one of their biggest outgoings, since in most regions of the country rental values for the retail sector have fallen sharply in recent years. However,  as part of each revaluation, the government decides whether to implement transitional relief which phases in reductions and increases. The retail sector overall has a total rateable value of c£15.8 billion, which according to Colliers is expected to drop toc £12.64 billion* following an estimated average 20% drop in rents. On paper this should mean that next year from April 2023 businesses in the retail sector should be paying c£6.46 billion in business rates. Yet if phased reductions are introduced due to a downwards transition policy, Colliers estimate the sector will in fact pay c £8.11 billion, £1.65 billion more than they should be and for some retail businesses, because of levels of inflation, higher bills than they are paying now. And over the three years of the list,  retailers that should be paying a total business rates bill of c£21.45 billion will in fact be pay c £24.13 billion if downwards transition is introduced – an extra £2.68 billion more. According to Colliers downwards transition following the last revaluation in 2017 was one of the key factors in keeping rate bills higher in the struggling retail sector than they should have been and led to the closure of retailers such as ToysRUs and Laura Ashley- even before the pandemic hit. John Webber, Head of Business Rates at Colliers said, “We have been campaigning for the removal of downwards transition and have strongly made our arguments to government in their recent consultation on the topic which closed in August. “Many retailers have been battered in the last few years, and really need to see the reductions on their business rates bills immediately in 2023- not phased in slowly. The sector is already coming under immense pressure following the energy crisis and high business rates could tip many over the edge. Operators in the sector will be considering their business plans now for next year and will be looking closely at their future business rates liabilities, particularly now the Covid-related reliefs have come to an end. Some may well end up making drastic decisions. He continued, “Our figures – based on an average 20% drop in rental values – are actually very conservative.  For many stores particularly in shopping centres and on non-prime high streets, rents have fallen further reaching 40% or even 60% falls. For these businesses an out of step phased reduction of their business rates bills will be disastrous. “There is no downward transition in Scotland or Wales, so why is it considered sensible for England?”* “It is essential the new Prime Minister take this issue seriously and provides reassurance that rates bills next year will immediately reflect the lower rents we are seeing in the market today – providing incentives for businesses to keep or expand space and for property investors to invest in the sector. Without this reassurance, the government’s  “levelling up agenda” will be meaningless and the revival of the high street will be pie in the sky thinking.“

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Colliers Urges Rate Payers to Push Back on Business Rates Consultation as Deadline Approaches

Kenneth Booth August 17, 2021

Leading Ratings Agent Fears Businesses’ Ability to Appeal Higher and Higher Rate Bills will be curtailed if government proposals come into force… The government’s latest proposals on business rates (Government Consultation Paper on More Frequent Revaluations)* will create more difficulties for businesses appealing their business rates than benefits, according to rating experts at Colliers, the international property consultancy. Colliers is responding  to the government consultation, launched at the end of June which requires responses by August 24th 2021,  in which the government stated its belief that three yearly Revaluations (Revals) will provide  more accurate valuations and greater transparency about the make-up of valuations, enabling business rates liabilities to more closely reflect current rents and economic conditions. While Colliers supports the move to three-yearly valuations, (although would prefer annual revaluations) but is concerned that the government is not prioritising increasing the resources at the VOA to achieve this aim- resulting in a system- according to Colliers which will inevitably put even more burden on  ratepaying businesses. The consultation paper is asking for responses and comments on the following matters: Duty to notify the VOA of changes to the occupier and property characteristics, information which would be shared with the billing authorities. This is expected to include extensions, alterations or demolition, conversions, splits and mergers and change of use. Mandatory provision of rent and lease information as well as trade and cost information used for valuations. This would be on an annual basis, aligned with business rates billing, using an online portal and would need to include any side agreements. There is also a requirement to provide lease information following an “event” such a lease renewal or rent review. Provision of this information is mandatory for submission of an appeal against a Rateable Value and there would be penalty fines for providing late or incorrect information. The government is also proposing changes to the current appeals system: The Check stage would be removed (most likely for the 2026 Revaluation) on the basis that this would be covered by the Duty to Notify. There may be a fee for submitting a Challenge, in addition to the current fee for submitting an Appeal. This is expected to be refundable if the Challenge is successful. The draft list is unlikely to be issued prior to 1st January before the Revaluation, and all Challenges against the new list values would need to be submitted within three months of the start of the list. A new occupier would be able to submit a Challenge within three months of the start date of their interest in the property. The VOA would have a statutory duty to complete all list appeals by the end of the list i.e. within two years and nine months (the current Check and Challenge process alone can take up to two years and six months). Landlords could not submit an appeal where they are not the rateable occupier. The ratepayer can apply for a fuller analysis of rental evidence used, but this must be prior to the Challenge being submitted i.e. within the three months. This may also be subject to a fee. According to John Webber, Head of Business Rates at Colliers,  the proposals would result in a much more onerous and expensive way for businesses to appeal their business rates. In its response to the consultation, Colliers has highlighted the following flaws in the proposed system: Duty to Notify. This is a significant burden on ratepayers as it will now involve an annual confirmation return. This is effectively an annual check by ratepayers – even those who may benefit from reliefs and don’t pay business rates- 600,000 businesses currently- increasing the paperwork and administration burden. Mandatory Provision of Lease Information. Again, an annual return to include side letters and arrangements agreed with landlords. This is required by the VOA even though they already have access to this through land registry and other sources. There may also be multiple rental returns required for each ratepayer based on frequent events being concluded throughout the year. Restrictions on Appeal timescales. The government has already announced that the draft list will be published 3 months before it becomes live and not the usual 6 months. This proposal then suggests a 3-month window to appeal.  This leaves little time to review valuations and submit Challenges upon receipt of the draft list values. Fees for a Challenge with refunds upon success. This could cause cash flow issues and will reduce access to justice. (Currently there are no fees payable until the final stage of CCA). Although the 3 yearly cycle is a positive move, compared to what we have now (where rateable values are still based on rents in 2015), the VOA has maintained that it needs a 2-year gap between the Antecedent Valuation date (AVD), when values are assessed and when the list becomes live. Colliers believes the gap should be shortened to 12 months to give a truer reflection of the market. Landlords restricted from submitting challenges Although not of major concern to many, a lot of landlords take a proactive approach to the rates liability of their tenants. To remove their involvement in the process seems unnecessary as well as undemocratic. The death of MCC’s. Set against the background of the government legislating to outlaw Covid MCC appeals perhaps it is not surprising that they are suggesting the removal of the ability to appeal on any MCC grounds. While this could be possible in an annual revaluation cycle, to remove it in a 3-yearly cycle is again undemocratic and unjustified. Transparency – only proposed in stages – this is not fair to ratepayers and means the VOA will not be transparent until later lists. Backlog – the huge backlog of 2017 appeals mean that it is unlikely that these will be cleared prior to the new list and new process being put in place. Colliers are concerned that 2017 appeal rights could be cut off. Timescale Based on experience, Colliers also think that it

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Hundreds of Thousands of UK Businesses Still Awaiting Decision over Covid-19 Related Appeals

Kenneth Booth February 22, 2021

Colliers voice dismay that negotiations with the VOA to find a solution have come to a halt in what it describes as a “Kick in the Teeth” for Business Talks between the Government’s Valuation Office Agency (VOA) and the RSASG ( RSA Covid19 Strategy Group) , the body set up to represent 85% of the ratepayers with outstanding Covid 19 MCC (Material Change of Circumstances)  business rates appeals – have come to an abrupt halt, a decision which Colliers believes may have been directed by the Chancellor. And there is no indication that talks will resume. The decision has been criticized as disastrous for hundreds and thousands of businesses by John Webber, Head of the business rates team at Colliers, who himself is part of the RSA (Rating Surveyors Association ) negotiating with the VOA,  along with other respected firms of rating surveyors. According to Colliers many businesses that occupy office space have been severely impacted by the impact of Covid 19 and the various lockdowns, but unlike businesses in other sectors such as those in retail and leisure/hospitality, office based businesses have received no rates holiday, and only the smallest businesses were  able to benefit from the initial government grant schemes. This is despite many office-based businesses seeing a massive disruption to their business operations due to the pandemic and lockdowns, with staff working from home and offices left largely unoccupied. Many businesses have seen a significant drop in profitability. As a result, the number of businesses appealing their business rates on the grounds of Material Change of Circumstance, is at its highest rate ever. Latest publish CCA (appeals)  figures reveal there were 289,510 Checks (the first stage of the appeals process) between March and December 2020.   Colliers has said the number of businesses starting their appeals has rocketed further since the New Year and estimates the number of outstanding Covid-19 checks (the first step in the appeals process) is now around 350,000. Webber says, “ The RSASG and the VOA had been discussing what should be done about the hundreds and thousands of businesses lodging an MCC since  March  last year and given the pressures on the current appeals system, the most sensible and efficient thing to do would have been to grant such businesses a blanket percentage reduction on their rates bills for 2020/21. This would prevent what could be years of uncertainty whilst the VOA worked through the backlog ‘’ Although the RSA and VOA were working towards an understanding last Autumn, a premature press release was issued to the media by one firm of agents in late December saying a deal had been agreed, despite nothing having been formally signed. This release had not been authorized by the RSA.  As a result, the VOA appear to have been directed to break off all negotiations with the RSA. They then requested a stay of the discussions for the whole of January. The RSA was hoping negotiations would begin again in February, but the VOA has again said it is unable to take part in any further discussions for the foreseeable future, without explaining why there is a refusal to engage. As John Webber  says, “ It is outrageous that whilst jobs are being lost by the hour and  businesses prevented from occupying office space in towns and cities up and down the land,  that the Chancellor effectively called a halt to discussions between the VOA with agents representing small and medium sized businesses at Christmas. In these talks the VOA had tabled an initial offer of a 25% reduction in business rates which should have risen to 75% – but the offer was withdrawn as soon as it came to public attention and before it could be properly accepted. Now around 350, 000 businesses have had to go through the notoriously painful CCA system to register their displeasure of having to pay business rates on property they have all but been able to occupy for 12 months.  Amongst these are businesses who desperately need financial support if they are to survive into the Spring.” “The RSA represents 85% of those ratepayers with outstanding Covid 19 checks and we have been working hard to find some solution to their problems quickly. For the VOA to be instructed that it should not  resume negotiations or to engage with us in a constructive manner, could sound the death bell for many firms that have been hanging on in the hope for a reprieve on their business rates. One wonders about the Chancellor’s hand in this. Is he just hanging on so he can play Father Christmas at the Budget on March 3rd – to bask in the glory of handing back to businesses monies they should not have paid out in the first place?” “We urge the Chancellor to direct the VOA to re-enter negotiations with us, or to come clean and explain why it won’t. Our clients deserve more consideration than to be left out to dry for an extra 3 months in this way.”

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Why the Chancellor’s Spending Review Should Not Miss Out Business Rates

Kenneth Booth November 25, 2020

Colliers Says the Chancellor has a Golden opportunity to re-assure businesses Although the Covid-19 pandemic has forced Rishi Sunak to postpone both his planned autumn budget and the announcement of plans for public spending until the middle of the decade, today he will be outlining what the government intends to spend for the next financial year 2021-22. According to John Webber, Heads of Business Rates at Colliers International, it is essential the Chancellor does not ignore business rates, which contribute £26 billion net to the economy. The business rates team at Colliers suggests the Chancellor: Announces an extension of the current 2020/2021 100%  business rates holiday for the retail and hospitality sectors  which is due to end next March- for another six or even twelve months from April 2021; giving the sector time to recover from the impact of the Covid-19 pandemic. It is indeed inconceivable that retailers would be able to take back their business rates commitments in April, particularly as they have missed their normal lucrative November trading period. Provides business rates relief for other sectors who have not had the advantages of the business rates holiday. This includes the office sector where many businesses were prohibited from using their offices during Lockdown and workers were told to work from home. Since then many offices have remained empty or only became partly occupied, particularly as the Government insisted on social distancing rules, limiting numbers, discouraging workers from using public transport and now are resorting to lockdown measures again. The financial implications have been dramatic. Colliers appealed to the Government to introduce a business rates holiday for the period of Lockdown and to introduce some reliefs for the disruption to businesses seen since. As we get through a second period of lockdown, this is more important than ever. The Government must extend the deadline dates for applications for the lockdown grants– so that businesses can take advantage of the forthcoming relaxation of current State Aid limits. The European Commission’s “Temporary Framework” states that limits on State Aid will increase to euro 3 million per business for those facing a declining turnover (at least 30% compared to the same period of 2019) due to the coronavirus outbreak. The UK Government has applied to introduce the revised limits but is still waiting for clearance to put this into practice. Meanwhile grant application deadlines are looming; so, without an extension it may be too late for many businesses to benefit. At current limitation levels, only the smaller businesses can benefit from grants. Yet these larger employers are the ones responsible for the majority of jobs. Makes good on the promise to bring in proper business rates reform. The current system is outdated and puts bricks and mortar retailers at a disadvantage to purely on-line rivals or to other sectors.  The Government had said it would report back on the first tranche of its consultation on reform this Autumn. As we move into December, we are still waiting… In particular, Colliers urges the Government to bring about an immediate reduction in the multiplier to £0.30, from current levels of £0.51 – making business rates a more affordable tax across the board- so all rate payers can benefit. There should also be an immediate reform of the reliefs system also. Brings in a business rates arrears moratorium for those businesses, who because of the pandemic have been unable to pay their business rates bills. Colliers suggest this should be until April 2021, allowing businesses a chance to sort out their finances. According to latest appeal figures, in the period April 1st to September 30th 2020, an average of 1000 businesses began the appeal process against their businesses rates assessments, on the grounds of an MCC (Material Change of Circumstance) to their business operations as a result of Covid-19 and Lockdown. This shows the scale of the disruption to businesses from the pandemic. Many hard-pressed businesses are now receiving enforcement orders from their billing authorities for failure to pay their rates bills. Colliers urges the Government to instruct Local Billing Authorities to show flexibility and support to business rather than stepping up the heavy-handed court summons. John Webber, Head of Business Rates at Colliers concluded, “The Chancellor has a golden opportunity today to bring some relief to businesses across the country who are struggling as a result of the unprecedented circumstances we have seen in 2020. We urge that he does not ignore business rates and that he reassures businesses that they will not be faced with either untenable bills next Spring or court action now. Failure to do anything may mean the bloodbath we are currently seeing in the retail sector could well spill across other sectors, leading to more closures and job losses across the board.”

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COLLIERS INTERNATIONAL BOOSTS AGENCY TEAM AT INTEGRA 61

Kenneth Booth October 7, 2020

Citrus Durham has strengthened the agency team at Integra 61, the North East’s largest new logistics and manufacturing park, with the appointment of Colliers International to join existing agent Avison Young.  The agency team will jointly market the remaining 1m sq ft of industrial/logistics space and circa 80,000 sq ft of roadside opportunities at the 205 acre site located next to J61 of the A1(M). Following the recent completion of over £20m of major infrastructure works, the £300m mixed-use employment development is now fully operational and has the capability to deliver some 4,000 jobs in total. In addition to being home to Amazon’s new 2m sq ft Fulfilment Centre, one of the UK’s largest logistics buildings, the site has outline planning consent for a further 1m sq ft of employment space with ‘oven-ready’ plots available on a design and build basis which enable occupiers to be operational within a year of deal completion. The pioneering development will also house circa 300 new homes and significant roadside opportunities including drive-thru’s, a 70-bed hotel, family pub/restaurant, nursery, car showrooms and trade counter/retail units.   Fronting onto the newly upgraded A688 and Durham Services, Integra 61 is just 4 miles away from the world-renowned University City of Durham with its population of over 40,000. This, in addition to the 740,000 people living within 30 minutes of the scheme offers occupiers access to an excellent local labour pool. Robert Whatmuff, Director, Colliers International said; “Integra 61 is undoubtedly one of the most exciting developments in the North East, with commercial opportunities to suit a full range of businesses and requirements. Certainty of deliverability is crucial in today’s market and the fact that occupiers can be operational on-site within a year of committing to the scheme is fantastic and will ensure smooth transitions for businesses.” Robert Rae, MD, Avison Young commented; “There has been real momentum at Integra 61 with the site now a hub of activity. Potential occupiers can get a sense of what a significant development the Citrus Durham team has created here and we anticipate high levels of demand for the wide range of opportunities at this strategic site.” David Cullingford, Project Lead for Integra 61 and Citrus Durham, said; “We are delighted to welcome Colliers International to our agency team at Integra 61. Their national outreach and expertise within the roadside sector is second to none and combined with Avison Young’s long-standing involvement with the development, we have a great team to take Integra 61 into its next exciting phase.”

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BARINGS SHOWCASES TOUCH-FREE MANCHESTER OFFICES

Kenneth Booth August 25, 2020

Barings, one of the world’s largest diversified real estate investment managers, has announced  that its 180,000 sq. ft. Landmark office development at St Peter’s Square in Manchester City Centre offers occupiers a ‘touch-free’ experience due to a host of smart technology features. Technology forms an integral part of Landmark’s design, which is why it achieved Wired Score Platinum certification. Landmark includes a host of features such as: pre-installed ultra-fast fibre connections with Colt, Openreach and Telcom; free WiFi; intelligent destination control lifts; smart building management systems, close proximity to The Loop network, smart access control and visitor management systems; a bespoke occupier engagement app; intelligent LED lighting that responds to outside conditions; and solar panels on the roof generating on-site electricity. Recent research undertaken by CBRE, joint agents on Landmark with Colliers International, states that adoption of touch-free technology and other smart building tools will support new work practices as part of updated occupier strategies. CBRE’s 2020 Occupier Flash Survey, conducted in May 2020, concluded that touch-free technology is expected to be adopted by 45% of those surveyed with 41% reporting an increased interest in buildings with WELL or sustainable features.  The survey suggests technology investment was very much at the heart of occupiers’ strategies before the protocol shifts necessitated by the pandemic, at which time 83% of EMEA occupiers reported they were intending to increase future investment in real estate technology and 21% said they were prepared to pay a rental premium of more than 20% for tech-enabled buildings. Ian Mayhew, Managing Director at Barings, said; “Having acknowledged that forward-thinking businesses want next generation office space with resilient digital connectivity, the technological infrastructure at Landmark played a vital role in the design and construction of the building.  Recent events have highlighted the importance of providing occupiers with a touch-free experience in addition to the all-important ‘plug and play’ set up when they move in and the ability to work at speed on a daily basis without interruptions. “From entering the building, either on foot through the revolving doors, or by car or cycle, occupiers and visitors have a completely touch-free journey through the building to their office destination in large part thanks to the bespoke occupier app working in conjunction with smart access controls and visitor management systems” Said Mayhew. Neil Mort, Senior Director at CBRE Manchester, continued: “CBRE’s research shows that investment in technology is now an integral part of occupiers’ real estate strategies advancing beyond a ‘nice to have’ to a ‘must have’ element. Digital buildings help to drive operational efficiencies and reduce costs as well as enhance productivity and improve the occupier experience, ensuring that the value of integrated technology extends far beyond the immediate health situation. Covid-19 has changed and challenged the way we work, with digital lifelines now more essential than ever. It has also presented an opportunity for companies to accelerate their digital transformation. Landmark is well placed to help a wide cross section of companies enter a ‘new normal’.” The technological infrastructure at Landmark is a key reason high profile companies such as global property consultancy JLL relocated its 170-strong Manchester team to the 10th floor; now JLL’s largest commercial office outside of London, and why strong interest is being shown in the remainder of the space. Landmark offers 14 floors of BREEAM Excellent, virtually column-free office space and was built with an offset core to enable not only large and efficient floorplates but also maximum flexibility to occupiers. This removes a design barrier in any fit-out project and enables occupiers to design their office space in a flexible way, allowing the workplace to accommodate social distancing guidelines if needed again in the future. Substantial private and public sector capital has gone into the transformation of St Peter’s Square and the Civic Quarter in recent years. This has led to a number of major occupiers relocating to the area. Landmark, which has received overwhelming support from Manchester City Council, is the concluding project for the prime St Peter’s Square business district.

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Challenges and opportunities ahead for hotel conversion businesses, industry event to hear

BDC News Team January 25, 2018

There are serious challenges ahead to finding suitable properties to convert into much-needed hotels, Ed John, a real estate partner in Shoosmiths’ hotel practice, will tell industry experts at an event hosted by Colliers International in London today. Ed will tell invited guests that due to undersupply of development land, pressures to preserve the character of the local built environment and conserve existing buildings – particularly in urban settings – in some locations the only feasible option is to convert old and sometimes historic buildings, preserving the character of towns, cities and wider communities in the process. “There’s no doubt that the business of converting existing buildings into hotels faces a number of challenges however, with constructive dialogue with local stakeholders, early engagement on design and planning as well as careful consideration of the issues well in advance of implementation, a conversion can yield some tremendous results” he said, ahead of the invitation-only event at Colliers International’s centre in George Street.   “We have seen how some truly iconic buildings can be enhanced and their heritage preserved while at the same time boosting local economies and turning some former eyesores into hotels of which our communities can be proud. You only need to look at buildings like The Ned, the former Midland Bank head office in the City – named after Edward ‘Ned’ Lutyens, or The Dixon, after John Dixon Butler – the architect who originally constructed the building in 1905 as the Tower Bridge Magistrates’ Court and police station to see what can be achieved with imagination – and a lot of hard work.   “This event will be a perfect opportunity for some of the industry’s brightest figures to get together, celebrate its successes but, more importantly, to share ideas for how we can continue to grow in this space and to develop ideas on how to tackle these challenges head-on.” Marc Finney, head of hotels and resorts consulting at Colliers, said: “We are in a window of opportunity right now for hotel development. Three or four years ago, following the financial crash, you could buy an existing hotel for less than the cost of construction – it didn’t make sense.  “Since then, starting in London but spreading quickly to Edinburgh, Manchester and other major markets, we can now see a plethora of UK cities and towns where development profits are available again.  “With the availability of clean sites few and far between in good central locations, there is an obvious spotlight on the opportunities that conversions can bring.” As part of the event, hospitality industry expert Jonathan Langston will be interviewing keynote speaker Dexter Moren, founding director of Dexter Moren Associates, who will be lending his insight on the 25 years of his leading hotel architecture practice. Other speakers include Marc Finney, head of hotels and resorts consulting at Colliers International, Ben Turner, a partner in Shoosmiths LLP’s hotel practice; Paul Cook, head of technology at ISG; Jonathan Manns, head of the UK regeneration team at Colliers; as well as Colliers’ head of UK hotel valuations David Hossack; Ben Godon and Allan Davidson, directors of Colliers’ specialist hospitality asset management practice. Andrew Sangster will moderate a panel with industry experts, which includes Clydesdale and Yorkshire Bank’s head of hotels Shona Pushpaharan, Colliers International’s head of hospitality management Clive Hillier, PPHE director of acquisitions and development Sabina Wyss di Corrado, and Adela Cristea, senior director, head of business development, UK and Ireland at Carlson Rezidor Hotel Group for Radisson.

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