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Operators and investors who have done this before.

Iconia represents owners and investors in the decisions that shape a hotel asset: acquisition, repositioning, operating performance and exit.

The firm

Built for the owner’s side of the table.

Iconia Asset Management was founded in Sydney in 2021 to provide owner-side hotel asset management across the full investment lifecycle. We work for owners and investors, not operators, brokers or a fund.

The firm exists because a hotel is both real estate and an operating business. An acquisition case only has value if the assumptions can be carried into the monthly operating plan, the capex programme and the eventual sale process.

We believe hotel ownership requires continuous judgement. The same people who test a business plan at acquisition should be accountable for operator performance, capital allocation and the recommendation to hold or exit.

Team

Principals who stay close to the mandate.

These are the people who take the calls and make the decisions. There is no account layer between an owner and a principal.

Co-Founder & Managing Partner · Sydney

Raymond Tran

Raymond is a property investment specialist and consultant, and a former hotel general manager, operator and owner. His tenure spans major international hotel groups and agencies including Colliers International, Savills, CBRE, Accor, Starwood, Marriott, Choice, Minor and Fairmont. That combination — running hotels before selling them, and owning them before advising on them — is why Iconia can test an operating case rather than accept one.

In investment sales, Raymond has transacted approximately $2.27bn across Australia and New Zealand, specialising in the core markets of Sydney, Melbourne, Adelaide and Queenstown. The work has covered CBD, metropolitan and regional hotel assets, together with backpacker and student accommodation, marinas, golf courses and resorts. He has provided extensive specialist hotel advice and hotel development advice, and has been engaged for hotel consultation, operator selection, feasibility, project management, new hotel pre-openings and asset management.

Raymond is the incumbent asset manager for Pullman Melbourne on the Park and Novotel Glen Waverley.

raymond@iconia.com.au +61 416 180 494 LinkedIn

Co-Founder & Chief Operating Officer · Sydney

Jacky Cheung

Jacky brings 22 years in hotel operations and asset management to the operating side of every Iconia mandate. He leads budget approval, operator performance and commercial review, with attention to the parts of a hotel P&L that decide whether revenue becomes GOP. He also manages Iconia’s offshore capital relationships and works in English and Mandarin.

Before Iconia, Jacky was Chief Operating Officer of a multi-property Australian hotel management group with oversight of nine hotels and approximately 1,400 keys. His pre-Iconia roles also included General Manager and Director of Revenue appointments across full-service and select-service assets. That operating record matters when a business plan is challenged: it makes the discussion practical, specific and accountable to the guest, the team and the owner.

jacky@iconia.com.au +61 414 615 104 LinkedIn

Relationships

A market network, handled appropriately.

Iconia works with hotel operators, lenders and specialist consultants across transactions and standing asset-management mandates. These relationships help us test an operating plan, commission due diligence and move a decision from paper to implementation.

We do not publish third-party names or logos where permission is not held. Named relationships, relevant to a particular mandate, are disclosed under NDA on request.