DLA Piper advises on KKR and Baupost Group's landmark acquisition of 33 Marriott Hotels in the UK

Global law firm DLA Piper advised KKR and a joint venture comprising KKR’s vertically-integrated European hospitality platform Amante Capital and The Baupost Group, on their acquisition of a portfolio of 33 Marriott International hotels across the UK from a subsidiary of the Abu Dhabi Investment Authority (ADIA).

The portfolio includes 33 premium Marriott and Delta by Marriott-branded properties located in cities across the UK, including London, Edinburgh, Glasgow, Leeds, and Liverpool. The hotels in the portfolio benefit from recent high-quality refurbishments and an extensive range of facilities catering to both business and leisure guests.

The deal was driven by the strong fundamentals and long-term growth of the European hospitality sector, and the high quality of the assets involved.

DLA Piper provided full legal support on all aspects of the acquisition, including corporate, employment and regulatory compliance matters. The firm worked closely with KKR, The Baupost Group, and their respective financial and operational teams to facilitate the deal.

DLA Piper’s multi-disciplinary team was led by partners Jo Owen and Rob Salter, supported by Lorna Edwards, Ben Taylor, Sophie Mills, Camilla Grierson and Tom Morris. HMA discussions with Marriott were led by Maria Fitzpatrick and Barry Noonan. Additional support was provided by partners Clare Gregory, James Clark, Stephen Malley, John Wilks, Tamara Calvert and Matt Duncombe.

Jo Owen, partner at DLA Piper commented: “This complex deal, with a considerable number of moving parts, was made possible by a truly collaborative and aligned approach, with our lawyers working in lockstep with the client at every stage.”

“We are proud to have been advisers on this deal, which underlines the attractiveness of the hotel and leisure sector in the UK and highlights the ability for investors to maximise returns by taking on operational risk and looking to work closely with all stakeholders.”