U.S. firms KKR, Baupost acquire 33 Marriott hotels in UK

A JOINT VENTURE between U.S. investment firms KKR and The Baupost Group recently acquired 33 Marriott International hotels in the United Kingdom from a
subsidiary of the Abu Dhabi Investment Authority. Amante Capital, KKR’s European hospitality platform, will manage the joint venture, with the properties
remaining Marriott-branded, the companies said in a joint statement.

The financial details of the deal remain undisclosed, but a Green Street News report estimated the transaction at around $1.16 billion or £900 million.

The portfolio includes 33 full-service Marriott and Delta Hotels by Marriott in London and key regional cities such as Edinburgh, Glasgow, Leeds and Liverpool,
the statement said. The 6,500-key portfolio, recently refurbished, features amenities for business and leisure, including conference venues, event spaces, golf
and recreation facilities.

The investment is part of KKR’s European real estate strategy.