UK: Actual property investor Blackstone has finished the purchase of Village Accommodations from trip and recreational investor KSL Capital Companions.
Village Accommodations owns and operates 33 homes representing 4,400 keys throughout the United Kingdom. Along with lodging, the lodges be offering health golf equipment, eating venues, and coworking areas.
KSL bought the hospitality platform in a deal reportedly valued at £485 million in 2014. Whilst phrases of the Blackstone acquisition have no longer been disclosed, Sky Information reported that Village Accommodations was once valued at £850 million.
James Seppala, head of actual property Europe at Blackstone, stated: “We’re extremely joyful so as to add Village Accommodations, a standout hospitality logo with a singular industry type, to our actual property portfolio. We see nice doable in accommodation and recreational as a sector, particularly the place we will be able to improve strongly located companies that ship remarkable studies to their consumers. We look ahead to partnering with Village Accommodations’ seasoned control crew and improve them because it embarks on its subsequent degree of enlargement.”
Gary Davis, CEO of Village Accommodations, added: “With KSL’s improve, we now have evolved a differentiated logo, providing accommodation, meals, assembly area and well being and wellness, ‘the whole thing underneath one roof’. Each and every resort draws over 4,000 native individuals to our well being and wellness golf equipment, somewhat distinctive within the resort international, with high-tech apparatus, health elegance amenities and swimming pools with steam room and sauna. An ideal facility for the industry traveller the place well being and wellness plus paintings amenities make us best possible at school. With Blackstone we see nice alternatives to make bigger the choice of lodges in the United Kingdom and additional give a boost to our current amenities. A thrilling time for us all.”
Jens Blomdahl, foremost at KSL Capital Companions, stated: “We’re happy to have partnered with the Village Accommodations crew to construct out a complete hospitality providing and make bigger their fine quality portfolio — together with the addition of greater than 1,200 rooms and 45,000 health individuals. We look ahead to following Village Accommodations’ persevered luck on this new bankruptcy as a part of the Blackstone portfolio.”
Lazard acted as Blackstone’s lead monetary guide, Santander additionally acted as Blackstone’s monetary guide and Simpson Thacher & Bartlett and DLA Piper served as Blackstone’s criminal advisors.
Morgan Stanley & Co. Global plc acted as KSL’s monetary guide and Dentons served as KSL’s criminal guide.