Lone Star, Dallas-based private equity group, which is in the process of forming a $1.6-billion company called Amaris through the acquisition of 89 UK hotels, recently sold Alliance Hotel Group, comprising 12 hotels (1,913 rooms) mostly throughout greater Paris under brands such as Mercure, Crowne Plaza and Best Western, to Paris-based asset manager LFPI.
LFPI owns a portfolio of 74 hotels, 64 of which are in France and 10 in Germany, totalling more than 6,000 rooms.
A total transaction price was not disclosed.
According to its website, LFPI Group is a multi-strategy alternative asset manager with more than three billion Euros of assets under management that invests in private equity (primary, secondary, co-investments, and funds), private debt (unitranche, mezzanine, senior), real estate (from core to opportunistic in both equity and debt) as well as asset management (fixed income and equity) investing in Europe, North America and Africa with a long-term and prudent investment strategy.