Henderson Park, the European real estate investment platform, has exchanged contracts on the acquisition of a portfolio of 12 predominantly freehold Hilton branded hotels across the UK and Ireland.
The transaction includes sites in key cities such as London, Edinburgh, Glasgow and Dublin and is expected to close later this year.
The 2,424 key portfolio is a collection of full-service Hilton branded hotels, with opportunities for additional value creation across the portfolio through extensions, room renovations, redevelopment of ground floor space.
All 12 hotels are franchised by Hilton, and encompass three of the company’s brands: Hilton Hotels & Resorts; Hilton Garden Inn; and DoubleTree by Hilton.
Henderson Park is in advanced discussions with the existing manager, Amaris Hospitality, for the ongoing management of the hotels.
Nick Weber, founding partner of Henderson Park, said: “This transaction presents us with a rare opportunity to acquire a large, high-quality portfolio of assets, timed to capitalise on the potential for a near term return to travel as well as a wider post-pandemic recovery over the years to come.”
Christophe Kuhbier, managing director at Henderson Park, added: “We believe these assets can deliver reliable cash flow, being located in key business and tourism hubs, and see an opportunity to drive growth through hands on management.”
Finance for the transaction was provided by Apollo. Henderson Park was advised on financing by Eastdil.