KKR and Baupost Purchase 33 Marriott International Hotels in the UK from ADIA
KKR and The Baupost Group have formed a joint venture to acquire 33 Marriott International hotels across the UK from ADIA. The portfolio includes 6,500 keys across premium Marriott and Delta by Marriott branded properties in key cities including London, Edinburgh, Glasgow, Leeds, and Liverpool. Amante Capital, KKR's European hospitality platform, will serve as managing partner, overseeing continued capital investment and operations. The properties feature amenities for business and leisure guests, including conference venues and recreational facilities. KKR has invested over $3.5 billion in UK real estate since 2016, making this acquisition through its European real estate strategy.
KKR e The Baupost Group hanno formato una joint venture per acquisire 33 hotel di Marriott International nel Regno Unito da ADIA. Il portafoglio include 6.500 chiavi in strutture di alta gamma a marchio Marriott e Delta by Marriott in città chiave come Londra, Edimburgo, Glasgow, Leeds e Liverpool. Amante Capital, la piattaforma europea di ospitalità di KKR, fungerà da partner gestore, supervisando ulteriori investimenti di capitale e operazioni. Le proprietà offrono servizi per ospiti d'affari e di piacere, inclusi spazi per conferenze e strutture ricreative. KKR ha investito oltre 3,5 miliardi di dollari nel settore immobiliare del Regno Unito dal 2016, rendendo questa acquisizione parte della sua strategia immobiliare europea.
KKR y The Baupost Group han formado una empresa conjunta para adquirir 33 hoteles de Marriott International en el Reino Unido de ADIA. La cartera incluye 6,500 habitaciones en propiedades de marca Marriott y Delta by Marriott en ciudades clave como Londres, Edimburgo, Glasgow, Leeds y Liverpool. Amante Capital, la plataforma de hospitalidad europea de KKR, será el socio gestor, supervisando la inversión de capital continuo y las operaciones. Las propiedades cuentan con comodidades para huéspedes de negocios y de ocio, incluidos espacios para conferencias e instalaciones recreativas. KKR ha invertido más de 3.5 mil millones de dólares en bienes raíces del Reino Unido desde 2016, realizando esta adquisición a través de su estrategia de bienes raíces europea.
KKR와 The Baupost Group이 ADIA로부터 영국 전역의 Marriott International 호텔 33개를 인수하기 위해 합작 투자회를 설립했습니다. 이 포트폴리오는 런던, 에든버러, 글래스고, 리즈, 리버풀 등 주요 도시에 있는 프리미엄 Marriott 및 Delta by Marriott 브랜드의 6,500개의 객실을 포함하고 있습니다. Amante Capital, KKR의 유럽 환대 플랫폼은 관리 파트너로서 계속적인 자본 투자와 운영을 감독할 것입니다. 이들 숙소는 비즈니스 및 레저 손님을 위한 다양한 편의시설을 갖추고 있으며, 회의 장소와 여가 시설이 포함되어 있습니다. KKR은 2016년 이후로 영국 부동산에 35억 달러 이상을 투자했으며, 이번 인수는 유럽 부동산 전략의 일환으로 이루어졌습니다.
KKR et The Baupost Group ont formé une coentreprise pour acquérir 33 hôtels de Marriott International au Royaume-Uni auprès de l'ADIA. Le portefeuille comprend 6 500 chambres dans des propriétés de marque Marriott et Delta by Marriott dans des villes clés, notamment Londres, Édimbourg, Glasgow, Leeds et Liverpool. Amante Capital, la plateforme d'hôtellerie européenne de KKR, agira en tant que partenaire gestionnaire, supervisant les investissements en capital et les opérations continues. Les propriétés disposent d'équipements pour les clients d'affaires et de loisirs, y compris des salles de conférence et des installations récréatives. KKR a investi plus de 3,5 milliards de dollars dans l'immobilier britannique depuis 2016, rendant cette acquisition conforme à sa stratégie immobilière européenne.
KKR und The Baupost Group haben ein Gemeinschaftsunternehmen gegründet, um 33 Hotels von Marriott International im Vereinigten Königreich von der ADIA zu erwerben. Das Portfolio umfasst 6.500 Zimmer in Premium-Immobilien der Marken Marriott und Delta by Marriott in Schlüsselstädten wie London, Edinburgh, Glasgow, Leeds und Liverpool. Amante Capital, die europäische Hospitality-Plattform von KKR, wird als verwaltender Partner fungieren und die laufenden Investitionen und Betriebe überwachen. Die Immobilien bieten Annehmlichkeiten für Geschäfts- und Freizeitreisende, darunter Konferenzräume und Freizeiteinrichtungen. KKR hat seit 2016 über 3,5 Milliarden Dollar in britische Immobilien investiert und diese Akquisition im Rahmen seiner europäischen Immobilienstrategie durchgeführt.
- Acquisition makes KKR the largest owner of premium segment Marriott International hotels in EMEA
- Portfolio includes 6,500 keys across premium locations in major UK cities
- Properties have recently undergone high-quality refurbishments
- Strengthens existing relationship with Marriott International
- None.
Insights
This strategic acquisition of 33 premium Marriott hotels across the UK represents a significant expansion of KKR's hospitality portfolio in Europe. The deal positions KKR as the largest owner of premium segment Marriott International hotels in EMEA, demonstrating strong confidence in the UK hospitality market despite broader economic uncertainties.
The portfolio's 6,500 keys with recent high-quality refurbishments and diverse amenities presents multiple revenue streams through business conferences, leisure travel and recreational facilities. The involvement of Amante Capital as managing partner adds operational expertise and suggests potential for value enhancement through dedicated asset management and capital improvements.
This transaction aligns with KKR's broader UK real estate investment strategy, where they've deployed over
The timing of this acquisition is particularly strategic given the post-pandemic recovery in European tourism and business travel. The portfolio's geographic diversification across key UK cities like London, Edinburgh and Glasgow provides exposure to both domestic and international travel markets, reducing market-specific risks.
The full-service nature of these properties, combined with their premium branding, positions them well to capture higher-yielding business and leisure travelers. The continued partnership with Marriott International ensures stable brand recognition and access to their global distribution network, which is important for maintaining competitive occupancy rates and revenue per available room (RevPAR).
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Joint venture acquires 33 premium-brand Marriott and Delta by Marriott hotels across the
UK - Amante Capital, KKR’s dedicated European hospitality platform, will serve as managing partner to the joint venture
The portfolio consists of 33 full-service properties branded as Marriott and Delta by Marriott in
“Our purchase of this impressive portfolio reflects our conviction in the
“This venture highlights our continued opportunistic approach to investing in high-quality assets,” said Nick Azrack, Partner, The Baupost Group. “We are excited to collaborate with Amante, KKR and Marriott International on the future of these hotels.”
Amante Capital’s experienced team will manage the portfolio on behalf of the joint venture. Working closely with Marriott International’s
KKR has been a long-term investor in
DLA Piper, Ropes & Gray and Simpson Thacher Bartlett served as legal advisors to the KKR and Baupost joint venture. KKR Capital Markets and Eastdil Secured arranged financing for the transaction. Hamilton Pyramid served as asset manager, Eastdil Secured as advisor and Burges Salmon as legal counsel to ADIA.
About Amante Capital
Founded in 2022, Amante Capital is dedicated to investing in hotel real estate across
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
About Baupost
The Baupost Group is a
Employing its value-focused discipline, Baupost has been successfully investing in real estate for more than 30 years. Working both independently and through joint ventures, the firm has deep experience in public and private real estate markets, in equity and credit positions, and across geographies and property types. Baupost’s relationships, flexible capital, and ability to underwrite large, complex situations has made the firm a trusted counterparty on real estate debt and equity transactions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241201853940/en/
KKR
Alastair Elwen / Jack Shelley
FGS Global
+44 20 7251 3801
KKR-LON@fgsglobal.com
The Baupost Group
Diana DeSocio
+1-617-512-6592
DDeSocio@Baupost.com
Julie Kane
+1-617-999-8623
JKane@Baupost.com
Source: KKR
FAQ
How many hotels did KKR and Baupost acquire in their UK Marriott portfolio purchase?
What is the total room count of the KKR-Baupost Marriott hotel portfolio?
Which cities are included in KKR's UK Marriott hotel acquisition?
Who will manage the KKR-Baupost Marriott hotel portfolio?
