CBRE advises Marathon on the portfolio purchase of 17 UK hotels
Global real estate advisor, CBRE, has advised MCAP Global Finance (UK) LLP, an affiliate of New York based investment manager Marathon Asset Management, L.P. (“Marathon”) on the purchase of a large UK hotel portfolio from Cerberus Capital Management.
The portfolio consists of 17 branded, full-service hotels that are strategically located in key regional markets across the UK including Leeds, Leicester, Reading and Southampton. Many of the hotels have been refurbished in recent years and are well positioned for a recovering hospitality industry. There is a total of 2,374 bedrooms across 15 Holiday Inns and two Crowne Plazas, two of the most recognised hotel brands in the UK.
This acquisition follows Marathon’s sale of a portfolio of 17 IHG and Hilton branded hotel assets at the end of 2019. The portfolio was sold by CBRE to DTGO Corporation, a new market entrant from Thailand.
Eastdil Secured advised Cerberus Capital Management on the deal.
We are very pleased to have advised Marathon on their purchase of this high quality and well-positioned portfolio. This transaction reflects investors’ confidence in the recovery of the hospitality market.