Highgate has signed an agreement to acquire Viceroy Hotels & Resorts. The transaction is expected to close in early 2023. The Viceroy brand debuted in 2000 with the launch of Viceroy Santa Monica and has evolved into a portfolio of hotels and resorts in destinations including St. Lucia, Chicago, Los Cabos and Snowmass.
“We are excited for Viceroy’s future and we believe that this acquisition will not only fuel the future expansion of our brand, but also give us a true partner, one who will offer incredible support, opportunity and collaboration. This deal will accelerate our momentum, and solidify our position as the leading modern luxury lifestyle brand in our space,” said Bill Walshe, CEO of Viceroy.
Richard Russo, principal at Highgate, said: “Through complementing Viceroy’s platform and DNA with Highgate’s diversified ability to grow through real estate acquisitions, development, and third-party growth channels, Highgate intends to add brand-accretive hotels to the Viceroy portfolio that will further enhance customer perception and brand awareness. Further, through powering Viceroy with a proprietary relationship with Highgate's operating company, and imparting the benefits of Highgate’s scale, we will be able to provide significant incremental value to associates, guests, owners and partners.”
“We look forward to working with the Viceroy team to add visible and impactful hotels to the platform, and cement Viceroy as one of the most noteworthy luxury lifestyle hotel brands in the industry,” added Russo. “In the coming months, we will be announcing exciting additions to the portfolio in major urban gateway markets and select resort destinations that will invoke the distinct quality and luxury service that Viceroy has long been known for.”
Viceroy Hotels & Resorts has established three categories consisting of the Icon Collection the Lifestyle Series and Urban Retreats. Viceroy’s portfolio of hotels and resorts can be found such destinations as Los Cabos, Santa Monica, Chicago, Beverly Hills, Riviera Maya, Snowmass, San Francisco, Washington D.C. and St. Lucia. In 2020, the brand expanded to D.C. with the opening of the Viceroy Washington DC and Hotel Zena (Washington, D.C.), and Viceroy is growing its international portfolio with the recent opening of Viceroy Kopaonik Serbia and looking ahead with Viceroy at Ombria Resort Algarve (Portugal) in 2023 and Viceroy Bocas Del Toro Panama in 2024.
For more information, visit www.highgate.com or www.viceroyhotelsandresorts.com.
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