Nine Hotels Bought By Investcorp
Investcorp has announced its acquisition of a group of hotels located in the US in a series of transactions worth $450 million.
The US Hotel Portfolio comprises nine hotels from the Marriott, InterContinental, Hilton and Starwood hotel groups, located in Illinois, Oklahoma, Florida, Texas and Virginia.
Eight of the hotels have been purchased and the ninth is scheduled to be completed in July.
Three hotels – the Marriott Schaumburg, the Crowne Plaza and the Holiday Inn Express – are located in Illinois.
Two hotels, the Holiday Inn Select and the Marriott Palm Beach, are located in Florida and a further two, the Doubletree and the Marriott Waterford, are located in Oklahoma.
The remaining two hotels, the Marriott Waterside and the Westin DFW, are located in Virginia and Texas respectively.
Combined, these nine hotels supply 2,828 rooms and 252,514sqft of meeting space. Read more
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