KKR and Baupost paid roughly $1.16 billion for 33 Marriott UK hotels including the freshly renovated County Hall, just as London's luxury ADR dropped more than 7% and 757 new five-star rooms flooded the market. The timing raises a question nobody in the press release wants to answer.
Hilton drops a veteran operator into the biggest hotel in Orange County right after a massive renovation. The real story isn't the hire... it's what happens when a sovereign wealth fund spends $200 million and expects results yesterday.
Hilton Anaheim swaps its renovation-era GM for a finance-background operator right as the 1,572-key property needs to prove the investment pencils out. ADIA didn't spend $200 million to admire the new lobby.
