Private equity investor Advent International and hospitality company GHL Hotels are set to enter into a partnership in which Advent will invest in GHL and support its expansion across Latin America.
The partnership aims to strengthen GHL’s financial position to accelerate growth through new operating contracts, additional investments in hotels and acquisitions of other third-party hotel operators.
“This investment from a world-class investor like Advent is a sign of confidence in our potential and an endorsement of our business model, track record and achievements," GHL Co-Founder and CEO Jorge Londoño said in a statement. "We have big expansion plans to consolidate our position as the largest Latin American player in the sector, and by partnering with Advent we are confident that we will achieve this goal.”
“In more developed markets, such as the United States, we’ve seen hotel operations shift to specialized third-party hotel operators rather than hotel chains or property owners,” said Mauricio Salgar, managing director of Advent International in Bogotá. “This trend is now expanding into other markets, including in Latin America, where GHL is a leading player and aspires to continue solidifying its position in the market.”
This investment follows Advent’s acquisition of a majority stake in Aimbridge Hospitality.
GHL is one of the largest third-party hotel operators in the Andean region and Central America, operating 62 hotels in Colombia, Ecuador, Perú, Central America, Chile and Argentina, with a portfolio of more than 7,000 rooms for companies like Hyatt, Marriott, Radisson and Sonesta.