Investment firms KKR and The Baupost Group have partnered to acquire a portfolio of 33 Marriott International hotels across the UK from a subsidiary of the Abu Dhabi Investment Authority.
KKR, through its value-add and opportunistic European real estate strategy, alongside the Baupost have invested an unspecified amount to buy the 6,500 key portfolio of full-service properties located in London and other regional cities including Edinburgh, Glasgow, Leeds and Liverpool.
KKR said its European hospitality platform Amante Capital will manage the Marriott-branded portfolio on behalf of the joint venture.
Source: realassets.ipe.com on the 2nd of December