UK: Actual property investor Blackstone has accomplished the acquisition of Village Accommodations from journey and leisure investor KSL Capital Companions.
Village Accommodations owns and operates 33 properties representing 4,400 keys throughout the UK. Along with lodging, the lodges supply health golf equipment, eating venues, and coworking areas.
KSL bought the hospitality platform in a deal reportedly valued at £485 million in 2014. Whereas phrases of the Blackstone acquisition haven’t been disclosed, Sky Information reported that Village Accommodations was valued at £850 million.
James Seppala, head of actual property Europe at Blackstone, mentioned: “We’re delighted so as to add Village Accommodations, a standout hospitality model with a singular enterprise mannequin, to our actual property portfolio. We see nice potential in lodging and leisure as a sector, particularly the place we will assist strongly positioned companies that ship distinctive experiences to their prospects. We look ahead to partnering with Village Accommodations’ seasoned administration group and assist them because it embarks on its subsequent stage of progress.”
Gary Davis, CEO of Village Accommodations, added: “With KSL’s assist, we now have developed a differentiated model, providing lodging, meals, assembly house and well being and wellness, ‘every little thing underneath one roof’. Every lodge attracts over 4,000 native members to our well being and wellness golf equipment, fairly distinctive within the lodge world, with high-tech gear, health class services and swimming pools with steam room and sauna. An excellent facility for the enterprise traveller the place well being and wellness plus work services make us finest in school. With Blackstone we see nice alternatives to broaden the variety of lodges within the UK and additional improve our current services. An thrilling time for us all.”
Jens Blomdahl, principal at KSL Capital Companions, mentioned: “We’re happy to have partnered with the Village Accommodations group to construct out a complete hospitality providing and broaden their high-quality portfolio — together with the addition of greater than 1,200 rooms and 45,000 health members. We look ahead to following Village Accommodations’ continued success on this new chapter as a part of the Blackstone portfolio.”
Lazard acted as Blackstone’s lead monetary advisor, Santander additionally acted as Blackstone’s monetary advisor and Simpson Thacher & Bartlett and DLA Piper served as Blackstone’s authorized advisors.
Morgan Stanley & Co. Worldwide plc acted as KSL’s monetary advisor and Dentons served as KSL’s authorized advisor.
