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LAS VEGAS SAW 18.5 percent year-over-year growth in group business this May, while Oahu Island, Hawaii, ranked second with a 17.9 percent year over year increase, according to Knowland. The average meeting space in the top 25 markets was 3,615 square feet, compared to 3,625 square feet in secondary markets. The top 25 markets averaged 128 attendees, while secondary markets had 127 attendees, Knowland said. Las Vegas led the top 25 U.S. markets in meeting growth in May, with an average space of 7,803 square feet and 287 attendees, the report said. Key drivers included technology events like the Electronic Distributor Show and national associations such as the International Council of Shopping Centers.

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A JOINT VENTURE between U.S. investment firms KKR and The Baupost Group recently acquired 33 Marriott International hotels in the United Kingdom from a subsidiary of the Abu Dhabi Investment Authority. Amante Capital, KKR's European hospitality platform, will manage the joint venture, with the properties remaining Marriott-branded, the companies said in a joint statement. The financial details of the deal remain undisclosed, but a Green Street News report estimated the transaction at around $1.16 billion or £900 million. The portfolio includes 33 full-service Marriott and Delta Hotels by Marriott in London and key regional cities such as Edinburgh, Glasgow, Leeds and Liverpool, the statement said. The 6,500-key portfolio, recently refurbished, features amenities for business and leisure, including conference venues, event spaces, golf and recreation facilities. The investment is part of KKR's European real estate strategy.