INTERNATIONAL REPORT—KSL Capital Partners has purchased the five hotels in the Les Hôtels d’en Haut portfolio, while several hotels in the U.S. have been sold. Here’s a look:
KSL Capital Partners Enters French Market with Les Hôtels d’en Haut Acquisition
KSL Capital Partners LLC has acquired Les Hôtels d’en Haut through an affiliate, from Perseus Group, a European hotel developer, owner and operator, for an undisclosed amount. This is KSL’s first significant acquisition in continental Europe.
Les Hôtels d’en Haut operates five boutique hotels in premier leisure markets across France. Located in the French Alps, Hôtel Le Val Thorens, Hôtel Le Fitz Roy in Val Thorens, and Hôtel des 3 Vallées in Courchevel allow guests ski-in/ski-out resort accessibility. The mountain retreat setting of Hôtel Alpaga in Megève faces Mont Blanc. Hôtel Les Roches Rouges, in Saint-Raphaël on the French Riviera, offers a private seafront and direct sea access.
Eric Darde will serve as the company’s president/COO, continuing to grow his leadership role, which began in 2014.
With a range of 30 to 80 rooms and suites, the portfolio includes a total of 245 hotel rooms.
Two Miami Beach Hotels Purchased
The joint venture by SHVO, Bilgili Group and Deutsche Finance, which owns the Raleigh Hotel in Miami Beach, has purchased two adjacent properties: the South Seas Hotel and the Richmond Hotel.
The group purchased the Richmond properties, including the Richmond Apartments at 1757 James Ave. and the Richmond Parking Lot at 1832 James Ave., for $87.8 million from Patti and Allan Herbert, and the South Seas Hotel for $52 million from Majestic Hotel Corp.
The group has invested nearly a quarter of a billion dollars in Miami Beach this year. In February, the group purchased the Raleigh Hotel for $103 million. In the most recent transactions, Lotus Capital Partners arranged a $100-million acquisition loan from California-based Acore Capital.
White Lodging Adds Property from Ashford Hospitality Trust
White Lodging, in partnership with REI Real Estate Services, has acquired the Marriott Plaza Hotel in downtown San Antonio from Ashford Hospitality Trust Inc., for $34 million.
The 251-room property six on six acres with courtyards, fountains, gardens, an outdoor pool and 17,000 sq. ft. of meeting space, which includes several historic 19th-century bungalows converted into distinctive meeting spaces.
White Lodging anticipates investing in an extensive renovation of the property that will commence in the summer of 2020.
Marriott Kansas City Overland Park Acquired
A joint venture comprising Wexford Lodging Advisors and Trinity Private Equity Group has acquired the 398-room Marriott Kansas City Overland Park. The joint venture will invest approximately $17 million to upgrade the property’s guestrooms and public spaces. Davidson Hotels and Resorts will operate the hotel.
In addition to a full guestroom remodel, Wexford’s plan includes renovation of the meeting space and lobby, in addition to the introduction of Marriott’s M Club concierge lounge, as well as development of a new fitness center.