KKR and the Baupost Group have announced the creation of a joint venture to purchase a portfolio of 33 Marriott International hotels in the UK from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

Amante Capital, KKR's European hospitality platform, will be the managing partner of the joint venture, and the properties will continue to be upscale Marriott-branded hotels.

The portfolio consists of 33 properties under the Marriott and Delta by Marriott brands in London and leading regional cities such as Edinburgh, Glasgow, Leeds and Liverpool.

The portfolio benefits from recent high-quality refurbishments, and features an attractive mix of business and leisure facilities.

' With Amante Capital, we have developed the capabilities to become an acquirer and operator of high-end hotels across Europe. This is our second investment with Marriott International in Europe, strengthening our global relationship and making us Marriott International's largest owner of upscale hotels in the EMEA region. said Mai-Lan de Marcilly, Managing Director and Head of Transactions France and Hotels at KKR.

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