ADIA sells 33 UK hotels to US investors

LONDON – U.S. investors KKR and Baupost have acquired for £900 million ($1.16 billion) from the Abu Dhabi Investment Authority a 33-hotel portfolio operated under Marriott brands in the U.K.

The portfolio includes the London Marriott County Hall located opposite the House of Parliament, as well as the London Marriott Hotel Regent’s Park.

In 2013, ADIA bought a portfolio of 47 Marriott hotels from Royal Bank of Scotland for £640 million. This new deal includes properties from the 2013 deal.

A consortium comprising Societe General, BAML and Deutsche Bank provided a £600 million loan for the purchase.

Earlier this year, KKR bought the 132-room Park Grand London Kensington Hotel in west London for an undisclosed price. A notice filed in July showed that KKR had raised £463M for its third European real estate fund.