Real estate investment and hospitality management firm aims to grow luxury brand >>
by: Harvey Chipkin
Highgate, a real estate investment and hospitality management company, has agreed to purchase Viceroy Hotels & Resorts, a Los Angeles-based luxury hotel operator. The transaction is expected to close early in 2023. No terms were announced.
Richard Russo, principal at Highgate, said that “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 grow Viceroy’s portfolio with properties “that will further enhance customer perception and brand awareness.”
In the coming months, said Russo, the company will be announcing “exciting additions” to the Viceroy portfolio in major urban gateway markets and select resort destinations “that will invoke the distinct quality and luxury service that Viceroy has long been known for.”
Highgate has over $20 billion of assets under management, including 500 owned and/or managed hotels with over 84,000 rooms across the US, Europe, Latin America and the Caribbean.
Viceroy has properties in Los Cabos, Santa Monica, Chicago, Beverly Hills, Riviera Maya, Snowmass, San Francisco, Washington DC and St. Lucia. It is growing its international portfolio with the recent opening of Viceroy Kopaonik Serbia and looking ahead with Viceroy at Ombria Resort Algarve (Portugal) in 2023 and Viceroy Bocas Del Toro Panama in 2024.
Image: Viceroy Kopaonik Serbia/Courtesy of Viceroy
We use cookies to offer you a better browsing experience, analyze traffic and personalize content. Read how we use and protect your data in our privacy policy. Do you accept cookies?