K+K Hotels sold to US investors

28-Oct-2015 - Last updated on 26-Apr-2021 at 17:49 GMT

A portfolio of 10 four-star hotels in major European cities has been sold to a joint venture between Goldman Sachs and US-based Highgate Hotels.

The group - K+K Hotels – owns the George London hotel in Kensington and runs 1,200 rooms across Paris, Barcelona, Munich, Vienna, Prague, Budapest and Bucharest.

It has been sold for an undisclosed sum by the Austria-based Koller family, who have owned the group for over 50 years.

Sheima Salloum, senior vice president at JLL Hotels & Hospitality Group - which advised on the transaction - said the sale had seen a ‘highly competitive bidding environment’ with strong interest from investors in the US and Asia.

“The sale emphasizes Europe’s appeal to international and cross-border investors as well as operators’ increasing willingness to secure top destinations through strategic acquisitions,” she said.

The deal - which included a management platform - is expected to be completed in the next few weeks.