GFH Capital acquires 12 US hotels

The Bahraini financial company made a US$250 million investment for the properties

GFH Capital is a subsidiary of Bahrain’s GFH Financial Group, a leading investment bank
GFH Capital is a subsidiary of Bahrain’s GFH Financial Group, a leading investment bank

GFH Capital, a subsidiary of Bahrain’s GFH Financial Group has made a deal to acquire a hospitality portfolio of 12 US hotels in partnership with Arbor Lodging Partners. 

Sister publication Arabian Business covered the news, saying the portfolio contains branded hotels across California, Connecticut and New Jersey. It added that GFH Capital made a US$250 million investment to obtain the portfolio.

The hotels are either Hilton branded (Hilton Garden Inn, Hampton Inn, and Homewood Suites) or Marriott (Courtyard, Residence Inn, and Springhill Suites) according to Arabian Business.  

Did you like this story?
Click here for more

Both Arbor and GFH assured they will roll out a refurbishment programme at the properties, aimed to add value and increase revenue generation of the hotels.

Arbor will hold a 9% stake in the portfolio and serve as the asset manager Arabian Business explained.

GFH CEO Hisham Alrayes said: “We’re delighted to close another significant investment in the US markets, which continues to perform strongly and in this robust segment of the hospitality sector.”

He added: "The portfolio is well diversified with assets located in key submarkets of the country that are showing growth and overall positive dynamics.”

Alrayes concluded: "We look forward to working with our partner Arbor to add further value to these assets and expect stronger income and returns for our investors.”

For all the latest hospitality news from UAE, Gulf countries and around the world, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page.

Most Popular

Newsletter

Reports

Human Capital Report 2017

Human Capital Report 2017

The second annual Hotelier Middle East Human Capital Report is designed to explore the issues, challenges and opportunities facing hospitality professionals responsible for the hotel industry’s most important asset – its people. The report combines the results of Hotelier Middle East's HR Leaders Survey with exclusive interviews with the region's senior human resources directors.

Hotelier Middle East Housekeeping Report 2016

Hotelier Middle East Housekeeping Report 2016

The Hotelier Middle East Housekeeping Report 2016 provides essential business insight into this critical hotel function, revealing a gradual move towards the use of automated management and a commitment to sustainability, concerns over recruitment, retention and staff outsourcing, and the potential to deliver much more, if only the industry's "image problem" can be reversed.

From the edition

From the magazine