Real estate investment and hospitality management company Highgate has added two new properties in the UK to its portfolio and is targeting more deals across Europe.
Alongside the acquisition of the Dorsett City London Hotel it has added the management of Grosvenor House Suites in London's Mayfair District.
The deals mark Highgate's return to the UK and European markets and the company's confidence for tourism and business travel to return.
What They Said
Mehdi Khimji, managing principal: "Highgate's philosophy over three decades of investing in Europe has been to acquire well-located real estate at discounts to replacement cost, and to pursue opportunities where Highgate has a distinct ability to add value. The Dorsett City London Hotel exemplifies that strategy.”
Richard Russo, principal: "In addition to our acquisition platform, we are focused on growing our UK and European management platform through strategic single asset and portfolio management contracts, operating company M&A and, in certain situations, leases.
"Highgate will have a particular focus on opportunities where the company can see an ability to add value through operational improvements, business plan repositionings, and partnerships with talented management teams."