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A portfolio of 10 European hotels, one of which is in London, has been sold to US investors.
K+K Hotels was sold by the Austria-based Koller family to a joint-venture of US-based hotel owner and operator Highgate Hotels and investment bank Goldman Sachs for an undisclosed sum.
The 10 four-star hotels, totalling 1,200 rooms, are operated under the K+K brand and are located across city centres in Europe including London, Paris, Barcelona, Munich, Vienna, Prague, Budapest and Bucharest.
The management platform was also included as part of the sale.
Sheima Salloum, senior vice president at JLL Hotels & Hospitality Group, which advised on the sale, said. “The sale emphasises Europe’s appeal to international and cross-border investors as well as operators’ increasing willingness to secure top destinations through strategic acquisitions.”
The deal is expected to be completed within weeks.
