Ropes & Gray Advises The Baupost Group on Joint Venture with KKR to Purchase Marriott UK Hotel Portfolio from ADIA

Ropes & Gray has advised leading investment firm The Baupost Group on a joint venture purchase, together with KKR, of a portfolio of 33 Marriott hotels across the UK from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Amante Capital, KKR’s vertically integrated European hospitality platform, will serve as managing partner for the joint venture and the properties will continue as premium Marriott hotels.

The portfolio consists of 33 full-service properties branded as Marriott and Delta by Marriott in London and prime regional cities including Edinburgh, Glasgow, Leeds and Liverpool. The 6,500 key portfolio benefits from recent high-quality refurbishments and features an attractive mix of amenities catering to business and leisure guests, ranging from conference and event venues to golf and recreation.

The team was led by PERE partners Will Bryant and David Seymour and counsel Joey Patchitt. Other members of the team included PERE associate Rosie Bell, tax partners Andrew Howard and Amanda Holt and associates Tim Waters and Rachel Tritter, antitrust partner Lisa Kaltenbrunner and associate Mez Azizi, and finance associate Andrew Baker.