Starwood Capital buys seven Hilton hotels
London – 27 February 2018 –
Starwood Capital Group, a leading global private investment firm, announces that a controlled affiliate of Starwood Global Opportunity Fund XI has acquired a portfolio of seven Hilton hotels throughout the United Kingdom, totalling over 1,300 rooms from Park Hotels & Resorts for £135 million.
The portfolio is located in several of the UK’s top hotel markets, including London, Edinburgh, Bath and Belfast, which benefit from high occupancies, high barriers to entry and solid investment fundamentals.
Starwood Capital Group plans to refurbish a number of the assets to transform operating performance and enhance asset values, with the portfolio being managed by Kew Green under franchise agreements with Hilton Worldwide. This marks the second acquisition in 12 months where Starwood and Kew Green have partnered, following the acquisition of the 298-key Holiday Inn Manchester in April 2017.