Marathon Asset Management has bought a collection of 17 IHG-branded UK hotels from Cerberus Capital management for an undisclosed amount.
The portfolio consists of 17 full-service hotels in locations including Leeds, Leicester, Reading and Southampton.
There are a total of 2,374 bedrooms spread across 15 Holiday Inns and two Crowne Plazas.
This acquisition follows Marathon’s sale of a portfolio of 17 IHG and Hilton branded hotel assets at the end of 2019.
The purchase was made through MCAP Global Finance (UK) LLP, an affiliate of the New York based investment manager.
CBRE advised Marathon on the deal and Eastdil Secured advised Cerberus.