Tuesday, May 8, 2018
UK-based Assest management company Schroders has attained European hotel investment and management group Algonquin to increase in Schroders’ portfolio of assets and alternative businesses.
Schroders has taken over Algonquin’s $2.2 billion worth of assets under management and various co-investments with Algonquin’s existing clients, expanding the firm’s real estate business. Schroders manages $18.2 billion in real estate strategies and £33 billion-worth of assets under management.
Schroders has appointed Frederic de Brem, CEO of Algonquin, as the head of Schroder Real Estate Hotels. The Schroders Real Estate team has an excellent track record in various sectors such as offices, retail, logistics, residential and self storage and we are delighted to be part of its expansion into the hotel sector. They believe it is a large market supported by strong fundamentals of growing occupational demand and a sector offering strong income growth for investors.
Algonquin manages more than 7,500 hotels across Europe through the group’s own brands or international franchises, including Sheraton, Marriott, Hyatt, Radisson and Sofitel. Algonquin’s most recent additions to its portfolio were the Radisson Blu Hotel Toulouse Airport and the AC by Marriott Nice in 2017. Algonquin and Extend AM acquired the 143-room AC hotel on Nice’s Promenade des Anglais. The group later acquired the 200-room Radisson Blu in Blagnac, France with Extendam in October 2017 and began operating the property in January 2018.
Tags: Europe, hotel investment, Schroders
