Tristan Capital Partners has acquired Raag Hotels Limited, the owner of Point A Hotels.
The £420 million deal sees Tristan take a majority shareholding in the group, with Queensway remaining as minority partners.
The independent boutique brand currently comprises 1,520 rooms across ten hotels, with 80 per cent of its value in London.
Queensway will act as hotel operator, asset manager and development partner for future sites, with the shareholders having committed “significant additional equity to fund the next phase of growth of Point A Hotels with the goal of doubling the size of the estate over the medium term”.
The Point A brand launched in 2017, and recently opened a hotel in the centre of Dublin, marking its first property outside of the UK.
For our review of Point A Shoreditch (published in August 2018), see:
Commenting on the news Kristian Smyth, executive director, investments at Tristan Capital Partners, said:
“The acquisition of this hotel platform reflects our wider hotel strategy of partnering with best-in-class operators in market segments that are resilient to market volatility with substantial growth potential.
“All the hotels are strategically situated in city centres within vibrant neighbourhoods, close to demand generators including business districts, tourist attractions and event venues.
“Our ambition is to materially grow the platform in the UK and Ireland alongside the Queensway team with 2-3 acquisitions per year with the objective of doubling the portfolio in the medium term.”