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NEW YORK, Dec. 15, 2022/PRNewswire/ -- An affiliate of the Principals of Highgate today announced that it has reached a definitive agreement to acquire Viceroy Hotels
"We are excited about the future of Viceroy and believe that this acquisition will not only fuel the future expansion of our brand, but will also give us a true partner, offering incredible support, opportunity and collaboration. This deal will accelerate our momentum." and will solidify our position as the leading luxury modern lifestyle brand in our industry," said Bill Walshe, Viceroy's CEO.
"We are delighted to be doing this deal with Viceroy. Viceroy has built an excellent reputation among its customers thanks in part to its strong culture of service and incredible team," said Richard Russo, director of Highgate. "By complementing Viceroy's platform and DNA with Highgate's diversified ability to grow through real estate acquisitions, development and third-party growth channels, Highgate intends to add branded hotels to Viceroy's portfolio that will further enhance customer perception and brand awareness.In addition, by leveraging Viceroy with an ownership relationship with Highgate's operating company, and imparting the benefits of Highgate's scale, we will be able to deliver significant incremental value to partners, guests, owners and partners."
"We look forward to working with the Viceroy team to add visible and impactful hotels to the platform and cement Viceroy as one of the most notable luxury hotel brands in the industry," added Russo. "In the coming months, we will announce exciting portfolio additions in major urban gateway markets and select resort destinations that will invoke the distinctive quality and luxury service for which Viceroy has long been known."
The transaction is expected to close in early 2023. For more information on Highgate, visit Highgate.com.
ABOUT HIGHGATE:
Highgate is a leading real estate investment and hotel management company with more than $20 billion in assets under management. Highgate has a 30-year track record as an investment manager, operating partner and promoter for REITs, venture capital firms, sovereign wealth funds, high net worth individuals and other institutional investors. With a particular focus on hotel real estate, Highgate's portfolio includes more than 500 owned and/or managed hotels comprising more than 84,000 rooms in the United States, Europe, Latin America and the Caribbean. Highgate's capabilities extend into adjacent real estate verticals, including multi-family, short-term rentals and diversified healthcare real estate, as well as investments in real estate-linked securities, technology platforms and hospitality-related operating businesses. Highgate has corporate offices in New York, Dallas, Los Angeles, London, Miami, Seattle and Waikiki. For more information visit the website: www.highgate .com
ABOUT VICEROY HOTELS
Viceroy Hotels
Viceroy for Everyone, Viceroy's ongoing commitment to diversity, equity and inclusion for its colleagues and guests, can be viewed at www.viceroyhotelsandresorts.com/about-us/diversity-equity-inclusion.
Viceroy is a member of Global Hotel Alliance (GHA) DISCOVERY, a unique loyalty program that offers members exclusive benefits and experiences at more than 800 hotels around the world. For more information, visit www.viceroyhotelsandresorts.com. Follow Viceroy on Facebook and Instagram.
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