KKR, Baupost Group announce joint venture to purchase 33 UK Marriott hotels

KKR (KKR) and The Baupost Group announced a joint venture to purchase a portfolio of 33 Marriott (MAR) hotels across the UK from a wholly owned subsidiary of the Abu Dhabi Investment Authority, or ADIA. Amante Capital, KKR’s vertically integrated European hospitality platform, will serve as managing partner for the joint venture and the properties will continue as Marriott branded hotels. The portfolio consists of 33 full-service properties branded as Marriott and Delta by Marriott in London and prime regional cities including Edinburgh, Glasgow, Leeds and Liverpool. Amante Capital’s experienced team will manage the portfolio on behalf of the joint venture.