Quinlan and Igal Ahouvi Acquire 47 U.K. Marriott Hotels
This is the first major investment of Quinlan Private's new London office
LONDON, UK, April 16, 2007. Quinlan Private is the single largest investor in the Portfolio. IA Group is investing on behalf of a consortium of international investors including Electra, First International Bank of Israel and Delek Real Estate. As part of the terms of this transaction, QP and IA Group will jointly control all decisions with QP leading the asset management function. QP has extensive expertise and a proven track record in the management and operation of hotels which includes: the Four Seasons hotels in Dublin, Prague and Budapest, the Maybourne Hotel Group of super-luxury hotels in London and Targa Hotels in Central Europe.
The Portfolio
The Portfolio comprises 47 four and five-star luxury hotels with approximately 8,500 rooms located throughout the United Kingdom. The hotels are currently operated by Marriott International, through its Marriott Hotels & Resorts brand, under the terms of 30 year management agreements which commenced in 2006. The Portfolio has a balanced geographic spread with 39 hotels throughout England, 5 in Scotland and 5 in Wales. In addition, the Portfolio has a balanced sector mix including hotels in London, other major urban centres throughout the UK, airport hotels and golf/resort hotels.
Peter Donnelly, Partner, Quinlan Private commented 'We are delighted to announce the successful completion of this transaction together with our partner, Igal Ahouvi, an experienced and successful international real estate investor. We are acquiring premium hotel sector assets in an economy which continues to show good growth.'
He added 'On behalf of the investor group, we will lead the asset management function of the Portfolio and, reflecting our expertise in the premium hotel sector, see significant opportunity to enhance operating performance together with the Marriott Group.'
Pauline Bradley, Head of Transactions, Quinlan Private, commented 'This is one of the best hotel portfolios in terms of asset quality and geographic spread within the UK. It provides unparalleled diversification which will sustain strong cash flows and capital appreciation. We look forward to working with our partners and the Marriott team to enhance returns and deliver value for our investor group.'
Olan Cremin, CEO, Quinlan Private, concluded 'This transaction is an opportunity for QP to extend its premium hotel portfolio and is the first major transaction completed out of our London office where we have built a strong and experienced team. We will continue to focus on opportunities to invest in prime assets to build on our track record of delivering superior returns.'
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
