Europe's K+K hotels sold to Goldman Sachs, Highgate JV

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.


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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.