Founded in 1998, Algonquin acts as both an equity investor and a hotel operator. From offices in Paris, London and Brussels, it manages a portfolio comprising 43 hotels with more than 7,500 rooms, worth €1.8bn.

The acquisition of Algonquin marks Schroders’ first strategic move into the hotels sector and comes less than a year after the fund manager entered another new market, with the purchase of The Self-Storage Company.