KKR & Baupost Acquire 33 Marriott Hotels in the UK | $1.16B Deal - 0 views
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asianhospitality on 05 Dec 24A 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.