Blackstone Real Estate has completed the acquisition of Village Hotels, a hotel group that manages 33 properties in Great Britain and boasts 4,400 rooms with hotels offering restaurants, coworking spaces and fitness spaces, an operation concluded with KSL Capital Partner, a travel and leisure investor that bought the hospitality platform in a deal worth £485 million in 2014.
The terms of the acquisition have not yet been disclosed but Sky News reported that Village Hotels was valued at £850 million.
The Head of Blackstone Real Estate said he is happy to add to the real estate group's portfolio a brand of relevance in the hospitality sector such as Village Hotels which boasts a unique business model with a great potential in the accommodation and leisure sector offering guests excellent experiences.
The CEO of Village Hotels announced that thanks to the support of KSL Capital Partner, the brand has developed in a differentiated way, offering accommodation, food, meeting and conference spaces, health and wellness services with state-of-the-art high-tech equipment, fitness classes, swimming pools, Turkish baths and sauna.
The facilities on offer are great for both business and leisure travellers and there are great opportunities for expansion with Blackstone Real Estate with new hotels in the UK and progressively improving existing facilities.
The Director of KSL Capital Partners said he is delighted to have partnered with the Village Hotels team to offer comprehensive hospitality and expand their high-quality portfolio that includes 1,200 keys and 45,000 fitness members and that he looks forward to seeing Village Hotels succeed in this new stage in Blackstone's portfolio.
The management between the parties has seen Lazard as principal financial advisor to Blackstone, Santander as part of Blackstone's financial advisor, Simpson Thacher & Bartlett and DLA Piper have acted as legal advisors to Blackstone, Morgan Stanley & Co. International plc has served as financial advisor to KSL and Dentons as legal advisor to KSL Capital Partner.
Link : https://boutiquehotelnews.com/news/industry/blackstone-village-hotels-ksl/
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