KKR, along with its European hospitality partner Amante Capital, has purchased the Park Grand London Kensington Hotel from Bartek Holdings. The hotel houses 132 bedrooms and is set to undergo a comprehensive refurbishment program.
Following the refurbishment, the hotel will be positioned as a boutique lifestyle hotel, managed by Amante Capital under Marriott International's Tribute Portfolio brand. The refurbishment program will also focus on improving the hotel's environmental sustainability.
Mai-Lan de Marcilly, managing director & head of transactions France and Hotels at KKR said: “We are delighted to announce our first acquisition with Amante Capital since launching the strategic partnership. The transaction is a testament to the talented team, reaffirming our strong conviction in building a best-in-class operating platform to invest behind strong secular demand for European and UK hospitality and attractive pricing in a dislocated capital market.”
Colliers advised KKR and Amante on the acquisition.
Image source - Pexels.
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