Israeli investor Igal Ahouvi has teamed up with Quinlan Private and Delek Real Estate to buy a £1.1bn Marriott hotel portfolio.
Igal Ahouvi agreed to buy the portfolio from RBS last year and has subsequently agreed to sell 44% of the portfolio to Irish investor Derek Quinlan’s company Quinlan Private while Delek Real Estate has taken around 20%.
The portfolio comprises 49 hotels run by Marriott across the UK on 30 year management agreements.
RBS bought the portfolio from Whitbread and Marriott joint venture for around £951m last year and completed the deal in April. It simultaneously entered talks with Ahouvi to sell the portfolio to his syndicate nine months ago, as reported by Property Week (news 20-01-06).
Ahouvi put down the initial deposit for the portfolio and once the deal was agreed he brought in partners Quinlan and Delek to take a stake.