Marathon AM sells hotel portfolio to Thai group for €530m

Private equity investor Marathon Asset Management’s UK arm has sold a portfolio of 17 IHG and Hilton-branded hotels to Thai investor DTGO for around £450 mln (€530 mln).

Marathon reportedly appointed CBRE to market the assets in February for just under £500 mln and granted exclusivity to DTGO in July.

The 17 hotels in the Marathon portfolio include, among others, DoubleTree by Hilton, Chester; DoubleTree by Hilton, Leeds; DoubleTree by Hilton, Manchester; Hilton Garden Inn, Birmingham; and Hilton Garden Inn, Bristol.

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