KKR (KKR) and The Baupost Group said Monday they have formed a joint venture to buy a portfolio of 33 Marriott International (MAR) hotels throughout the UK from an Abu Dhabi Investment Authority's unit.
Financial terms were not disclosed.
KKR's European hospitality platform Amante Capital will be the managing partner for the joint venture and the properties will continue to operate as premium Marriott-branded hotels, the companies said.
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