Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Starwood Capital snaps up seven Hilton hotels for £135m

28 February 2018 by
Starwood Capital snaps up seven Hilton hotels for £135m

An affiliate of Starwood Capital Group's Starwood Global Opportunity Fund XI has acquired seven Hilton hotels for £135m.

The private investment firm acquired the portfolio, which includes properties in London, Edinburgh, Bath and Belfast, from Park Hotels & Resorts.

The hotels include:
• Hilton London Angel Islington (188 bedrooms)
• Hilton Blackpool (278 bedrooms)
• Hilton Milton Keynes (138 bedrooms)
• Hilton Bath City (173 bedrooms)
• Hilton Belfast (198 bedrooms)
• Hilton Coylumbridge, Aviemore (175 bedrooms)
• Hilton Edinburgh Grosvenor (184 bedrooms), pictured

Starwood Capital Group plans to refurbish several of the assets and the portfolio will be managed by Kew Green Hotels under franchise agreements with Hilton.

Jon Asumendi, vice president at Starwood Capital Group, said: "We are acquiring this well-located portfolio at a substantial discount to replacement cost and with significant upside potential still to be realised."

Jamie Lamb, executive chairman of Kew Green Group, said: "We are very pleased to be partnering with Starwood Capital Group for a second time to unlock opportunities in the portfolio."

Kew Green Hotels operates more than 50 hotels in UK cities, of which most are operated under franchise agreements with a variety of brands including Holiday Inn, Crowne Plaza, Courtyard by Marriott, ibis Styles and Hampton by Hilton.

Starwood takes 30% stake in Yotel >>

How the Principal Hotel Company has reimagined the De Vere brand >>

Videos from The Caterer archives

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking