New York investment manager Marathon acquires 17 UK branded hotels

HI Hemel – External

New York based investment manager Marathon Asset Management has acquired 17 branded UK hotels in a deal advised by CBRE.

The portfolio, sold by Cerberus Capital Management to MCAP Global Finance, an affiliate of Marathon, comprises 17 full-service hotels in key regional markets across the UK including Leeds, Leicester, Reading and Southampton. 

There is a total of 2,374 bedrooms across 15 Holiday Inns and two Crowne Plazas, with many of the hotels recently refurbished.

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This acquisition follows Marathon’s sale of a portfolio of 17 IHG and Hilton branded hotel assets at the end of 2019.

The portfolio was sold by CBRE to DTGO Corporation, a new market entrant from Thailand.

Joe Green, Senior Director at CBRE commented: “We are very pleased to have advised Marathon on their purchase of this high quality and well-positioned portfolio. This transaction reflects investors’ confidence in the recovery of the hospitality market.”

Eastdil Secured advised Cerberus Capital Management on the deal.

Tags : CBREdealhotelsMarathonSALE
Zoe Monk

The author Zoe Monk

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