{"id":84979,"date":"2022-12-15T10:05:13","date_gmt":"2022-12-15T10:05:13","guid":{"rendered":"http:\/\/lebanonnewsgazette.com\/?guid=970446b6308574637c51216f90ae137c"},"modified":"2022-12-15T10:05:13","modified_gmt":"2022-12-15T10:05:13","slug":"highgate-announces-agreement-to-acquire-viceroy-hotels-resorts","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/highgate-announces-agreement-to-acquire-viceroy-hotels-resorts\/","title":{"rendered":"HIGHGATE ANNOUNCES AGREEMENT TO ACQUIRE VICEROY HOTELS & RESORTS"},"content":{"rendered":"
NEW YORK, Dec. 15, 2022 \/PRNewswire\/ — An affiliate of the Principals of Highgate<\/a>\u00a0announced today that it has entered into a definitive agreement to purchase Viceroy Hotels & Resorts (Viceroy).\u00a0The LA-based, award-winning hospitality group is known for its highly individual modern luxury hotels and resorts throughout the world,\u00a0and\u00a0was\u00a0voted\u00a0one\u00a0of\u00a0 “We are excited for Viceroy’s future and we believe that this acquisition will not only fuel the future expansion of our brand, but also give us a true partner, one who will offer incredible support, opportunity and collaboration. This deal will accelerate our momentum, and solidify our position as the leading modern luxury lifestyle brand in our space,” stated Bill Walshe, CEO of Viceroy.<\/p>\n “We are thrilled to execute this transaction with Viceroy. Viceroy has built an outstanding customer reputation due in part to its strong service culture and incredible team,” said Richard Russo, Principal at Highgate.\u00a0“Through 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 brand-accretive hotels to the Viceroy portfolio that will further enhance customer perception and brand awareness. Further, through powering Viceroy with a proprietary relationship with Highgate’s operating company, and\u00a0imparting the benefits of\u00a0Highgate’s scale, we will be able to\u00a0provide significant incremental value to associates, guests, owners and partners.”<\/p>\n “We\u00a0look\u00a0forward to\u00a0working\u00a0with\u00a0the\u00a0Viceroy team to add\u00a0visible\u00a0and\u00a0impactful\u00a0 The\u00a0transaction\u00a0is\u00a0expected\u00a0 Highgate is a leading real estate investment\u00a0and\u00a0hospitality management\u00a0company with\u00a0over $20\u00a0billion of\u00a0assets under management. Highgate has a\u00a030-year track record\u00a0as an investment\u00a0manager, operating partner, and developer for REITs, private equity firms, sovereign wealth funds, high net worth individuals, and other institutional investors. With a particular focus in hospitality real estate, Highgate’s portfolio includes over 500 owned and\/or managed hotels comprising over 84,000 rooms across the United States, Europe, Latin America, and the Caribbean. Highgate’s capabilities extend to\u00a0adjacent\u00a0real estate verticals including multifamily, 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 maintains corporate offices in New York, Dallas, Los Angeles, London, Miami, Seattle, and Waikiki. For more information, visit: www.highgate<\/a>.com<\/a><\/u><\/p>\n Viceroy\u00a0Hotels &\u00a0Resorts\u00a0is\u00a0a\u00a0global modern\u00a0luxury\u00a0brand,\u00a0 Viceroy for Everyone<\/i>,\u00a0Viceroy’s\u00a0ongoing\u00a0 Viceroy is a member of the Global Hotel Alliance (GHA) DISCOVERY, a unique loyalty program offering exclusive benefits and experiences to its members at over 800 hotels around the world. For more information, visit\u00a0www.