Register to get 3 free articles
Register to unlock the article and receive our free newsletter. Join 26,000 other hotel leaders and stay in the know.
Want unlimited access? View Plans
Already have an account? Sign in
Property developer Vastint has launched the sale of a UK hotel portfolio valued at about £500m, appointing JLL and KPMG UK to advise on the process.
The portfolio comprises 15 purpose-built Marriott-branded hotels with 3,230 rooms, operated by Vastint’s in-house platform Hotel Co 51 UK under franchise agreements.
It includes the largest Moxy collection in Europe as well as AC by Marriott and Courtyard by Marriott properties, located in city centres, near transport hubs and close to major exhibition venues.
With an average build age of five years, the portfolio is among the “youngest and most sustainable” in the UK market, with all properties holding Green Key certification along with LEED or BREEAM ratings.
The sale comes amid rising investor appetite for operational real estate, with select-service hotels benefitting from demand across both leisure and business travel segments.
Kerr Young, head of UK national hotels at JLL, said: “This represents a high-quality select-service UK hotel portfolio that benefits from a well-invested and scaled in-house operational platform underpinned by brand recognition under Marriott’s global distribution platform.”
Phil Shields, head of UK real estate M&A at KPMG, added: “This portfolio offers significant embedded growth potential and operational upside, underpinned by sustainability and scale, an exceptional proposition for strategic investors.”
