Amaris Hospitality, a European hotel investment and management company, is looking to build its portfolio to more than 50 properties following its acquisition by LRC Group, a pan-European property investor and manager.
Under the terms of the acquisition, Amaris will become LRC’s hotel investment and management platform with a head office in Glasgow, Scotland.
The deal also includes the addition of seven new Hilton-branded hotels, purchased from funds managed by Oaktree Capital Management. Those hotels include two Doubletree by Hilton establishments in Scotland at Edinburgh Airport and in Bellshill. The other sites are in Bristol, Coventry, Dartford, Newbury and Southampton. In total, the seven new properties add more than 1,000 guestrooms to the company's existing portfolio of 23 hotels with 3,800 guestrooms.
Financial details surrounding the transaction have not been disclosed but the deal for the seven hotels is expected to close later this year. Amaris will manage the new hotels on behalf of LRC, bringing the total number of properties in the company's portfolio to 30.
Peter Stack has been appointed managing director of Amaris Hospitality, having previously been managing director of asset management with the group. Other key members of the new Amaris Hospitality leadership team include Stephanie Gosling, who has been appointed commercial director; David Webster, senior operations director, and Kirstine Rowland, head of human resources. John Brennan, the outgoing chief executive of Amaris Hospitality, has been appointed non-executive chairman and will act as a strategic advisor to LRC on all hospitality investments.
“Key to our strategy will be acquiring and investing in established hotels trading under acclaimed international brands in key strategic locations,” Stack said.