Global Mutual acquires Okami Hospitality

LONDON – London-based real estate investment manager Global Mutual has launched Global Mutual Hotels following its acquisition of Barcelona-based Okami Hospitality Partners, a specialist hotel investment and asset manager.

With €500m assets under management, Global Mutual Hotels will continue to operate across Europe and plans to expand into the U.S., Middle East and Asia. Global Mutual’s website states it currently managing £5 billion of assets across a broad range of sectors and strategies.

The Okami portfolio, according to its website, currently includes the 144-key Le Meriden Ra in El Vendrell, Spain; the 200-room Melia Lloret de Mar in Lloret de Mar, Spain; the 266-room Dreams Madeira by Hyatt in Madeira, Portugal; and the 200-key Infinitum Resort in Salou, Spain. It is not clear whether Global Mutual Hotels has equity in any of these assets.

However, the group stated that the new platform will partner and can co-invest minority stakes with new investors to acquire hotels and generate attractive risk-adjusted returns through disciplined asset selection and active asset management.

At present, a representative told Hotel Investment Today that the group is focused on the creation of two JVs in Spain. It is assessing two hospitality platforms with real estate and considering the acquisition of single hotel assets in the U.K. and Spain.

“We are incredibly excited about the launch of Global Mutual Hotels,” said Global Mutual Managing Director. “The Okami team bring operational expertise and entrepreneurial spirit which perfectly aligns with our approach. With the volatile macro environment and our skills, we see a growing opportunity set in the sector to create compelling value for our investors.”

“We are honored to join the Global Mutual family and thrilled to maximize the potential of our expertise with the support of Global Mutual’s reach, capital and strategic capabilities,” said Okami CEO and new Global Mutual Hotels Managing Director Javier Batlle. “We remain dedicated to delivering excellent asset performance on behalf of our investors, now strengthened by this new platform.”

Global Mutual said that the launch of Global Mutual Hotels marks the next stage in the company’s growth as it builds and grows specialist sector platforms to execute identified investment themes that deliver superior investment performance.