By acquiring Amaris Hospitality, now composed of 30 hotels, LRC Group expands its portfolio.
The property investor and manager LRC Group announced the acquisition of Amaris Hospitality and has agreed to add seven Double Tree by Hilton-branded hotels to the Amaris Hospitality portfolio using funds managed by Oaktree Capital Management.
These hotels are as follows:
- Doubletree by Hilton Bristol North
- Doubletree by Hilton Strathclyde
- Doubletree by Hilton Southampton
- Doubletree by Hilton Dartford Bridge
- Doubletree by Hilton Newbury North
- Doubletree by Hilton Coventry
- Doubletree by Hilton Edinburgh Airport
The transaction is expected to close later this year, but the amount of it was not disclosed.
The seven Hilton-branded hotels feature over 1,000 rooms and extensive conference venues. They will reinforce Amaris Hospitality's existing portfolio of 23 hotels operating under the following brands: Hilton, Hilton Garden Inn, DoubleTree by Hilton, Mercure and Ibis Styles brands, totalling 3,800 rooms.
The addition of the new hotels is part of LRC's ambition to accelerate the growth of its hotel investments and to create, through Amaris Hospitality, a high-performing, long-term investment portfolio of over 50 internationally-branded hotel assets.
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