Amaris Hospitality, the hotel investment and management company, is looking to build its portfolio to more than 50 properties after being taken over in a deal that also sees the addition of seven establishments.
The firm is being acquired by LRC Group, a pan-European property investor and manager, while the seven Hilton-branded hotels are being bought from funds managed by Oaktree Capital Management.
Those hotels include two Doubletree by Hilton establishments in Scotland – at Edinburgh Airport and in Bellshill.
Financial details surrounding the transaction have not been disclosed but the deal for the seven hotels is expected to close later this year.
Amaris Hospitality, whose new head office will be based in Glasgow, will become LRC’s hotel investment and management platform and will manage the new hotels on behalf of LRC. It brings the total number of sites in the Amaris portfolio to 30.
Peter Stack has been appointed managing director of Amaris Hospitality, having previously been managing director of asset management with the group.
Other key members of the new Amaris Hospitality leadership team include Stephanie Gosling, who has been appointed commercial director; David Webster, senior operations director, and Kirstine Rowland, head of human resources.
John Brennan, the outgoing chief executive of Amaris Hospitality, has been appointed non-executive chairman and will act as a strategic advisor to LRC on all hospitality investments.
Stack said: “We are very excited about working with our new owners LRC Group and as the addition of these seven hotels demonstrates, together we have ambitious growth plans for the business.
“Our strategy will continue to focus on developing and growing our employees, achieving operational excellence and creating a high performing hotel portfolio with a view to delivering long-term, sustainable returns for investors.
“Key to our strategy will be acquiring and investing in established hotels trading under acclaimed international brands in key strategic locations.”
Brennan added: “I am really looking forward to taking up this role on behalf of LRC and to working with the investors and the board in supporting Peter and his leadership team as they pursue their ambitious plans for the business.”
The seven Hilton-branded hotels comprise more than 1,000 rooms and extensive conferencing facilities and employ some 900 people. The other sites are in Bristol, Coventry, Dartford, Newbury and Southampton.
They will add to Amaris Hospitality’s existing 23 hotels which trade under the Hilton, Hilton Garden Inn, DoubleTree by Hilton, Mercure and Ibis Styles brands, with 3,800 rooms between them.