Park Grand London Kensington Hotel has been acquired from Bartek Holdings Limited by global investment firm KKR, and its European hospitality partner Amante Capital.
Colliers advised KKR and Amante on the acquisition of the 132-bedroom site, though terms of the transaction were not disclosed.
The transaction marks the first acquisition by KKR and Amante Capital since the launch of their vertically integrated hotel platform in 2022.
Following the acquisition, the property, located in London’s Royal Borough of Kensington and Chelsea, will undergo an “extensive” refurbishment to be repositioned as a boutique lifestyle hotel operated by Amante Capital under Marriott International’s Tribute Portfolio brand.
According to KKR, the refurbishment is targeted to also enhance environmental credentials, “reflecting KKR’s and Amante Capital’s commitment to an increasingly sustainable hospitality real estate industry”.
Mai-Lan de Marcilly, managing director and head of Transactions France and Hotels at KKR, said: “We are delighted to announce our first acquisition with Amante Capital since launching the strategic partnership.
“The transaction is a testament to the talented team, reaffirming our strong conviction in building a best-in-class operating platform to invest behind strong secular demand for European and UK hospitality and attractive pricing in a dislocated capital market.”