Starboard/LaSalle JV Acquires Seven Accor Hotels in Key Markets Across the UK from Ares and EQ Group
Article excerpt
Highlighted: the sentence this signal was extracted from
In Brief: A joint venture between Starboard Hotels and LaSalle Investment Management has acquired seven Accor-branded hotels in key UK markets from sellers Ares Management and EQ Group, signaling continued investor interest in branded hotel assets and portfolio-scale transactions. Novotel Birmingham Centre - Image Credit Accor Birmingham, Sheffield, Luton, Southampton and London hotels bring owner and operator's total portfolio to twenty-eight Starboard Hotels in a joint venture with LaSalle Investment Management has acquired seven hotels in key markets across the UK from Ares Real Estate Funds ("Ares") and EQ Group ("EQ") for an undisclosed sum. These will be managed by Starboard under existing Accor franchise agreements. Ares and EQ were represented by JLL and Christie & Co. The award-winning owner and operator's UK hotel portfolio now totals 28 as it celebrates 20 years in operation since its establishment in 2006. The acquisitions bring Starboards' total room number to over 3,000 and creates new career opportunities within the group. The seven hotels comprising 913 bedrooms are: ibis Birmingham New Street, Novotel Birmingham Centre, Novotel Sheffield Centre, ibis Luton Airport, ibis Southampton Centre, Novotel Southampton and ibis London Barking, these bring the total number of Accor hotels managed by Starboard to 15. Accor is a global hotel operator and franchisor with...
Keep reading with a free account
The rest of this article, and every signal for Ares Management, is in your free account.
