Family owned K + K Hotels Group, which has one property in the London, has been sold to USA-based owner and operator Highgate Hotels and investment bank Goldman Sachs, for an undisclosed sum.
JLL Hotels & Hospitality Group and Credit Suisse, advised on the sale of the group.
Sheima Salloum, senior vice president, JLL, said: "The transaction offered investors the rare opportunity to not only acquire high-end real estate in prime strategic locations, but also a well-established and highly profitable management platform, allowing for an instant market penetration and a basis for future growth in Europe's key cities with highest entry barriers."
Clearance of the sale from the Austrian merger control is expected in the coming weeks.
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