Private equity real estate firm Henderson Park has acquired the business and hotel management platform of Amaris Hospitality from LRC Group and simultaneously launched a new dedicated hotel and asset management platform called Klarent Hospitality.
The acquisition follows Henderson Park’s recent acquisition of a 2,424 key portfolio of 12 Hilton-branded hotels, managed by Amaris Hospitality, which closed in November. The Amaris Hospitality name and brand does not form part of the acquisition and will continue to be owned by LRC Group.
Klarent Hospitality will be led by the existing Amaris management team under Peter Stack and John Brennan, the current chief executive and chairman, respectively.
Nick Weber, founding partner of Henderson Park, said: 'The acquisition of the Amaris business allows us to launch at scale our own dedicated hotel operating platform, Klarent Hospitality. This new business will be integral to helping us drive further value for our investors from our hospitality assets.'
All Amaris Hospitality employees will transition to Klarent Hospitality and continue in their current roles, allowing for a seamless transition for personnel and suppliers, as well as uninterrupted customer service.
The hospitality sector remains one of Henderson Park’s conviction asset classes, having made a number of significant acquisitions, including several landmark hotels across Europe, in the last few years. Henderson Park’s portfolio now comprises c. 9,300 rooms across the UK, as well as Greece, France, Ireland and Spain.
John Brennan and Peter Stack, who have over 70 years’ combined experience in the hospitality sector, led the creation of Amaris Hospitality in 2015, which consolidated nearly 100 hotels in the UK and Ireland.
After a £100 mln (€117 mln) capital expenditure programme, 22 hotel rebrands, significant enhancements to product and customer experiences, and a programme to drive superior operational performance, growing investor demand triggered the sale of the Jurys Inn hotel group to Pandox in 2017.
Subsequently LRC acquired the Amaris Hospitality business and its remaining hotel assets in 2018.
John Brennan, Chairman of Klarent Hospitality, said: 'Henderson Park has a long history of successful investment in the hospitality sector and this transaction, with the creation of Klarent Hospitality, provides Nick and his team with a proven platform to further strengthen their existing hospitality market expertise.
'Our deep sectoral knowledge and experience of transforming, rebranding and managing hotels is highly complementary to Henderson Park’s investment and asset management expertise within the sector. We look forward to partnering with Nick Weber and his team to maximise future opportunities within the hospitality industry.'
