Mergers & Acquisitions

🏨 Portman Hospitality Fund I acquired the 1,073-key Westin Peachtree Plaza, Atlanta, from Marriott. Built in 1976 by founder John C. Portman, Jr., it was the tallest hotel globally. Portman plans renovations before Super Bowl LXII in 2028. The acquisition follows the purchase of the 456-key Westin Cincinnati. Portman's hospitality portfolio now includes eight hotels, over 4,000 rooms, and $1.5 billion in assets across the U.S., with $20 billion in capital deployed since inception.

🏖 Aermont Capital is set to acquire Park Holidays UK from Sun Communities for £768 million in an all-cash deal, covering 56 holiday parks across England, Wales, and Scotland. The transaction is anticipated to close in H2 2026, pending approvals. Park Holidays, which expanded from 42 sites in 2022, employs around 2,900 people during peak season. Under new ownership, the company aims to expand into more coastal and countryside areas.

🏨 The Morgans Group acquired The Harper, a 32-bedroom boutique hotel in Langham, North Norfolk, marking their first major expansion outside of Wales. The hotel, previously a glass-blowing factory, earned a Michelin Key in 2024 and features a restaurant, bar, games room, and spa. The Morgans Group, known for coastal hotels in West Wales, plans to maintain The Harper's unique character. Shon Morgans highlighted the hotel's exceptional quality and its alignment with their investment strategy.

💰 Whitbread’s share price dropped nearly 15% in 2023 amid Corvex Management's demand for a sale, following a rejected five-year plan. CEO Dominic Paul announced a strategy to transform into a high-margin hotel business, selling £1.5bn of property. Corvex, owning 7% of Whitbread, criticized this move, suggesting the market undervalues Whitbread’s assets. Meister, Corvex's managing partner, called for a company sale and shareholder returns. Whitbread insists on its current strategy amid ongoing board tensions.

🏨 JLL’s Hotels & Hospitality Group completed the sale of the Moran Hotel CITYCENTRE, a 244-room lifestyle hotel in Houston's 47-acre CITYCENTRE district. MetroNational acquired it in a joint venture. Opened in 2009 as Hotel Sorella, it rebranded in 2020 as the Moran and underwent a multimillion-dollar renovation in 2024. The property includes amenities like a fitness center, an outdoor pool, and five food and beverage outlets. The offering also featured 22 condos and 14,645 sq ft of retail space.