Real estate investment and hospitality management company, Highgate, is purchasing Viceroy Hotels & Resorts which has a stable of high-end properties in the US and around the world.
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.
The Viceroy brand debuted in 2000 with the launch of Viceroy Santa Monica and has evolved into a portfolio of hotels and resorts in iconic destinations such as St Lucia, Chicago, Los Cabos and Snowmass.
“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,” said Bill Walshe, CEO of Viceroy. “This deal will accelerate our momentum, and solidify our position as the leading modern luxury lifestyle brand in our space.”
Richard Russo, Principal at Highgate said “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.
“We look forward to working with the Viceroy team to add visible and impactful hotels to the platform, and cement Viceroy as one of the most noteworthy luxury lifestyle hotel brands in the industry,” continued Russo. “In the coming months, we will be announcing exciting additions to the 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,” Russo added.
The transaction is expected to close in early 2023.
Lead image: Viceroy Los Cabos