Real estate investment and hospitality management company Highgate has agreed to purchase Viceroy Hotel & Resorts, a Los Angeles-based hospitality group that has opened 10 hotels under the ultra-luxury Viceroy brand since 2000.
The purchase price for the transaction, which is expected to close in the first part of next year, was not disclosed.
"Through complementing Viceroy's platform and DNA with Highgate's diversified ability to grow through real estate acquisitions, development, and third-party growth channels, Highgate intends to add brand-accretive hotels to the Viceroy portfolio that will further enhance customer perception and brand awareness," said Richard Russo, principal at Highgate, in a statement.
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