Junson Capital enters UK hotel market with Doubletree by Hilton acquisition
A Hong Kong-based investment company has acquired the 378-bedroom Doubletree by Hilton hotel in London's Docklands, in one of the largest hotel transactions in the capital since the Brexit vote.
Junson Capital is believed to have paid private equity firm HIG around £80m for the property, which last year completed a major refurbishment programme and rebranding from a Hilton hotel. It is the first UK hotel transaction for Junson, which has interests in real estate, financial assets and private equity.
Although the figure paid for the hotel was not confirmed, it is expected to be higher than the £70m paid for the 408-bedroom Travelodge London King's Cross Royal Scot hotel immediately after the EU Referendum. Another Hong Kong group, Magnificent Real Estate, bought the Travelodge property from Henderson Global Investors.
Property company Colliers International advised on the purchase of the Doubletree by Hilton and assisted Junson with debt financing.
Marc Finney, head of hotels and resorts consulting at Colliers International, said: "This acquisition is thought to be the first major hotel transaction by an overseas buyer in London since the EU referendum, demonstrating that foreign capital still sees London as an attractive investment opportunity within the hotel sector."
Hilton Worldwide will continue to manage the hotel on behalf of the new owner. DoubleTree by Hilton, which has more than 450 hotels worldwide, is one of six brands operated by Hilton Worldwide in the UK.
Magnificent acquires King's Cross Travelodge for £70m >>
DoubleTree by Hilton plans to expand across the UK >>
Former Thameside Hilton hotel reopens as a DoubleTree by Hilton >>
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