Mergers & Acquisitions

💸 TPG acquires Sabre's Hospitality Solutions for $1.1 billion, establishing it as a standalone business serving over 40% of top hotel brands. Sabre's net proceeds of $960 million will primarily repay debt. The transaction, reinforcing Sabre's capital allocation, was approved by Sabre's Board and announced on April 28, 2025, with closure expected by Q3 2025. Legal advisor Haynes Boone, led by Dan Malone and Joshua Reisman, supported the deal.

💰 TPG agreed to acquire Sabre Corporation's Hospitality Solutions business for $1.1 billion in cash. Sabre's net proceeds of approximately $960 million after taxes and fees aim to pay down debt and improve its capital structure. The standalone Hospitality Solutions serves over 40 percent of top hotel brands with a SaaS platform. The transaction is part of a strategic financial move, aligning with a net leverage target of 2.5x to 3.5x. Sabre's Board approved the deal, expected to close by the end of Q3 2025. Legal advice was provided by Haynes Boone, led by Dan Malone and Joshua Reisman.

💸 TPG to acquire Sabre's Hospitality Solutions for $1.1 billion in cash, with net proceeds of approximately $960 million for Sabre to pay down debt. This strategic move follows debt refinancings in December 2024 and April 2025 debt maturities repayment. The transaction, approved by Sabre's Board, is expected to close by end of Q3 2025, subject to regulatory approvals. Haynes Boone served as legal advisor, with the deal announced on April 28, 2025. Hospitality Solutions serves over 40% of leading hotel brands globally.

💰 Sabre Corporation is selling its Hospitality Solutions business to TPG for $1.1 billion in cash. TPG will invest through its TPG Capital private equity platform. The SaaS platform serves over 40% of the world's leading hotel brands. Sabre's net proceeds of approximately $960 million will primarily pay down debt. Following the December 2024 debt refinancing and April 2025 debt repayment, Sabre aims to optimize its portfolio and target a net leverage of 2.5x to 3.5x. The deal, expected to close by end of Q3 2025, is approved by Sabre's Board and does not require financing conditions.

🏨 Marriott International is acquiring lifestyle hotel brand citizenM for $355 million, closing expected in 2025 pending US regulatory approval. The deal may include additional earn-out payments up to $110 million based on future brand growth, commencing from the fourth year post-closing. CitizenM's current portfolio boasts 36 hotels with 8,544 rooms, plus three under construction set to open by mid-2026. Forecasted stabilized fees for the portfolio are roughly $30 million annually.

📌 KHP Capital Partners closed on $300 million for its sixth real estate fund, with three investments made to date: 240-room hotel conversion in Charlotte, North Carolina, a lifestyle hotel in Seattle, Washington, and the Hotel Viking in Newport, Rhode Island as of April 17. The fund aims for 8-10 projects, translating to ~$1 billion in buying power. Over 10 years, KHP's equity under management reached $1 billion, owning 16 hotels with two additional hotel credit investments. Rowe, Depatie, and Long founded KHP in 2015.

🏖️ The Editory Collection Hotels opened a new five-star property in Lagos, Algarve, with a €63.8 million investment. The Editory by The Sea Lagos, owned by Sonae, features 204 rooms, including two suites, on the Dona Ana Beach shoreline. Amenities include the Coral Restaurant, an Oyster Bar, CRAB_ar, health club, swimming pool, Kids’ Club, and a 120-square-metre meeting space. Launched in 2021 with a €17.5 million investment, The Editory Collection now has 12 hotels in Portugal, aiming for 600 rooms by 2025.

🏡 Grand Metropolitan Hotels acquires luxury brand Voile d’Or Hotels and Resorts, including all brand rights and management contracts. Voile d’Or operates in London, Paris, New York, Saint Jean Cap Ferrat, St. Barths, and Courchevel. The first hotel, Hotel La Voile d’Or, opened in 1925 and will reopen in 2029 after renovation. Jacques Oudinot becomes CEO, with Edouard Deschepper as board director. Martin Smura announces plans for expansion into the Maldives, Dubai, and Lisbon.

🏡 Grand Metropolitan Hotels acquires Voile d’Or Hotels and Resorts, gaining Brand and IP rights, and management contracts. Voile d’Or, a 100-year-old luxury brand, operates in six locations: London, Paris, New York, Saint Jean Cap Ferrat, St. Barths, and Courchevel. The acquisition expands Grand Metropolitan's luxury offerings, with future plans for the Maldives, Dubai, and Lisbon. Hotel La Voile d’Or in Saint Jean Cap Ferrat is set to reopen in 2029, honoring its 1925 origins. Jacques Oudinot is the new CEO of Voile d’Or, alongside Board Director Edouard Deschepper. The purchase price is undisclosed.