LONDON — September 6, 2016 — H.I.G. Capital, LLC ("H.I.G."), a leading global private equity and alternative asset investment firm with $20 billion of equity capital under management, announced today that it has agreed to sell the 378 bedroom DoubleTree by Hilton Hotel London – Docklands Riverside in London to a Chinese investor group. Terms were not disclosed.
H.I.G. purchased the hotel in early 2014, with a view to implementing a long-term refurbishment program that included upgrading guest rooms and common areas and repositioning the property. The business plan also included the rebranding of the asset which is now operated as a DoubleTree by Hilton Hotel.
Riccardo Dallolio, Managing Director at H.I.G. in London commented: “This transaction is a great example of H.I.G.’s value-added approach and has resulted in an outstanding outcome for H.I.G and its investors, particularly following the EU referendum.”
Sanjoy Chattopadhyay Principal at H.I.G. in London added: “Through a series of targeted asset management initiatives, we have successfully transformed a complex property into a refreshed and institutional-quality hotel. The Doubletree Docklands Riverside is now considered a leader in its category.”
