Starboard Hotels, in a joint venture with LaSalle Investment Management, has acquired seven Accor hotels across key UK markets from Ares Real Estate Funds and EQ Group for an undisclosed sum.
The hotels, which will continue to operate under existing Accor franchise agreements and be managed by Starboard, comprise 913 bedrooms and take the hotel operator’s UK portfolio to 28 properties and more than 3,000 rooms.
The portfolio includes Ibis Birmingham New Street, Novotel Birmingham Centre, Novotel Sheffield Centre, Ibis Luton Airport, Ibis Southampton Centre, Novotel Southampton and Ibis London Barking. The acquisitions increase the number of Accor hotels managed by Starboard to 15.
Ibis London Barking becomes its third London hotel, with access to Canary Wharf and Westfield Stratford, while Ibis Luton Airport is a 10-minute walk from the airport terminal and close to Luton Airport Parkway station. The addition gives Starboard three hotels serving major UK airports.
In Birmingham, the two acquisitions bring Starboard’s portfolio in the city to four hotels. Ibis Birmingham New Street is located in the Arcadian Centre in the Chinese Quarter, while Novotel Birmingham Centre is situated on Broad Street in the Brindleyplace district.
Additionally, Novotel Sheffield Centre is located close to Sheffield Station and several of the city’s major entertainment and sporting venues. It becomes Starboard’s second owned and operated hotel in Sheffield.
The two Southampton properties, including Ibis Southampton Centre and Novotel Southampton, are Starboard’s first hotels in the port city. Both are within walking distance of Southampton Central Station, the city centre and the cruise terminals.
The transaction marks Starboard’s first private equity joint venture and its 20th year of operation. For LaSalle, the acquisition forms part of its value-add investment strategy in the UK hospitality market.
The sellers were represented by JLL and Christie and Co. The deal marks EQ Group’s final exit from the 18-asset UK portfolio it acquired with Ares in 2024.
Frazer Callingham, managing director of Starboard Hotels, said: “This is a first private equity joint venture transaction for us and we are very excited to be working in partnership with LaSalle to bring this established portfolio into our hotel family. We expect the portfolio to bring operational efficiencies across our estate, and it is exciting to be a part of both new cities and brands with great potential to grow and improve.”
Leif Skogland, vice president of value-add investments, Europe at LaSalle Investment Management, said: “We are delighted to be partnering with Starboard on this exciting opportunity; we see great potential in this portfolio and look forward to realising the business plan. We believe further opportunities will arise across the UK for us to expand our joint venture with Starboard.”
Starboard Hotels, in a joint venture with LaSalle Investment Management, has acquired seven Accor hotels across key UK markets from Ares Real Estate Funds and EQ Group for an undisclosed sum.
The hotels, which will continue to operate under existing Accor franchise agreements and be managed by Starboard, comprise 913 bedrooms and take the hotel operator’s UK portfolio to 28 properties and more than 3,000 rooms.
The portfolio includes Ibis Birmingham New Street, Novotel Birmingham Centre, Novotel Sheffield Centre, Ibis Luton Airport, Ibis Southampton Centre, Novotel Southampton and Ibis London Barking. The acquisitions increase the number of Accor hotels managed by Starboard to 15.
Ibis London Barking becomes its third London hotel, with access to Canary Wharf and Westfield Stratford, while Ibis Luton Airport is a 10-minute walk from the airport terminal and close to Luton Airport Parkway station. The addition gives Starboard three hotels serving major UK airports.
In Birmingham, the two acquisitions bring Starboard’s portfolio in the city to four hotels. Ibis Birmingham New Street is located in the Arcadian Centre in the Chinese Quarter, while Novotel Birmingham Centre is situated on Broad Street in the Brindleyplace district.
Additionally, Novotel Sheffield Centre is located close to Sheffield Station and several of the city’s major entertainment and sporting venues. It becomes Starboard’s second owned and operated hotel in Sheffield.
The two Southampton properties, including Ibis Southampton Centre and Novotel Southampton, are Starboard’s first hotels in the port city. Both are within walking distance of Southampton Central Station, the city centre and the cruise terminals.
The transaction marks Starboard’s first private equity joint venture and its 20th year of operation. For LaSalle, the acquisition forms part of its value-add investment strategy in the UK hospitality market.
The sellers were represented by JLL and Christie and Co. The deal marks EQ Group’s final exit from the 18-asset UK portfolio it acquired with Ares in 2024.
Frazer Callingham, managing director of Starboard Hotels, said: “This is a first private equity joint venture transaction for us and we are very excited to be working in partnership with LaSalle to bring this established portfolio into our hotel family. We expect the portfolio to bring operational efficiencies across our estate, and it is exciting to be a part of both new cities and brands with great potential to grow and improve.”
Leif Skogland, vice president of value-add investments, Europe at LaSalle Investment Management, said: “We are delighted to be partnering with Starboard on this exciting opportunity; we see great potential in this portfolio and look forward to realising the business plan. We believe further opportunities will arise across the UK for us to expand our joint venture with Starboard.”
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The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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