IPE Real Estate is reporting that the Austria-based Koller family is selling a portfolio of 10 European hotels to a joint venture between Goldman Sachs and Highgate Hotels. A management platform was also included in the sale.
The deal, for an undisclosed amount, is expected to be completed in the coming weeks.
The four- and four-star-superior hotels, with a total of 1,200 rooms, operate under the K+K brand.
|The K+K Hotel Picasso in Barcelona|
The hotels—in London, Paris, Barcelona, Munich, Vienna, Prague, Budapest and Bucharest—were owned and operated by the Koller family for more than 50 years.
Sheima Salloum, senior vice-president at JLL Hotels & Hospitality Group, which advised on the sale, said the sale was completed after a “highly competitive bidding environment”, with strong interest from cross-border investors from the US and Asia.