The hotel’s are the latest additions to it’s portfolio, taking the number of hotels to 25 and rooms under management to over 3,500.
Both hotels were acquired from Shiva Hotels by Conker Dawn Limited, a new hotel investment vehicle led by Blackbear Capital’s Founder and Managing Partner, Heath Forusz along with his partners in Conker Dawn, John Nacos and Michael Stanton.
They mark the first two acquisitions for Conker Dawn, who “plan to build a portfolio of hotels in the UK and across Europe with Michels and Taylor’s support”.
A third Conker Dawn asset is in exclusivity and should be acquired in the coming weeks.
Michel and Taylor is the exclusive operating and advisory partner for Conker Dawn. In this role, M&T will help identify, underwrite and then operate the assets on behalf of the vehicle.
Hugh Taylor, CEO of Michels and Taylor, said: “For a number of years, M&T has been one of Europe’s leading hotel advisory and asset management businesses, but we are not as well known for our managed division which has quietly been building a great portfolio over recent years.
“Our managed portfolio is now 25 strong across the UK and we have a significant pipeline of deals that we expect to close over the coming months. We are delighted to be working with Heath, his partners and the investors of Conker Dawn and look forward to helping them create a substantial and market leading portfolio of assets under our guidance and management.”
Heath Forusz, managing director of Conker Dawn Limited, added: “We are very excited to have secured our first major deal in the UK for our new vehicle. These two assets set the standard for our future acquisition strategy – first class hotels in great locations with real potential for growth.
“Our strategy relies upon strong management and hotel expertise and in this regard, we are very fortunate to be working with M&T, without doubt one of the strongest independent hotel teams in Europe right now.”