Starboard and LaSalle Acquire 7 UK Accor Hotels

Starboard Hotels and LaSalle Investment Management have acquired seven Accor-branded hotels across the UK from Ares Real Estate Funds and EQ Group for an undisclosed purchase price [1]. The 913-room portfolio expands Starboard's operational footprint to 28 properties containing over 3,000 bedrooms while maintaining existing Accor franchise agreements [1].

What assets are included in the transaction?

The deal encompasses seven properties split across Accor's Novotel and Ibis flags [1]. Hotel Owner reported that the assets include Novotel Birmingham Centre, Ibis Birmingham New Street, Novotel Sheffield Centre, Ibis Luton Airport, Novotel Southampton, Ibis Southampton Centre, and Ibis London Barking [1]. Together, these locations contribute 913 rooms to the joint venture's holdings [1].

The purchase boosts Starboard's count of managed Accor hotels to 15 assets [1]. All acquired properties will retain their established Accor branding and franchise commitments under Starboard's operational management [1].

How does the purchase alter Starboard's operating footprint?

The transaction expands Starboard's wider collection to 28 UK properties and more than 3,000 total bedrooms [1]. According to Hotel Owner, the acquisition marks Starboard's 20th year in business and stands as its initial private equity joint venture [1].

The geographic balance of the operator has shifted across commuter, regional business, and transportation hubs [1]. Adding Ibis London Barking gives the company three hotels in London, providing transit connections to Canary Wharf and Westfield Stratford [1]. The Ibis Luton Airport sits a 10-minute walk from the departure terminal and close to Luton Airport Parkway station, giving Starboard three locations serving UK airport terminals [1].

Regional additions reinforce current operations while opening new regional submarkets [1]. In Birmingham, two assets on Broad Street and in the Arcadian Centre lift Starboard's footprint to four properties [1]. Novotel Sheffield Centre serves as the group's second owned and operated Sheffield property [1]. Meanwhile, Novotel Southampton and Ibis Southampton Centre mark Starboard's market debut in the port city, positioned within walking distance of central rail services and cruise terminals [1].

Who were the vendors and advisers on the transaction?

Ares Real Estate Funds and EQ Group sold the assets through joint advisory representation by Christie and Co and JLL [1]. Hotel Owner confirmed the transaction finalises EQ Group's full exit from an 18-asset UK hospitality portfolio originally purchased alongside Ares in 2024 [1].

Financial terms remain undisclosed between the transacting parties [1]. Frazer Callingham, managing director of Starboard Hotels, noted that the joint venture anticipates the seven hotels will drive operational efficiencies throughout the firm's wider estate [1].

What investment targets does LaSalle pursue through the venture?

LaSalle Investment Management completed the acquisition as part of its European value-add investment vehicle [1]. Hotel Owner highlighted that the firm intends to pursue the portfolio's underlying business plan in tandem with Starboard [1].

Leif Skogland, vice president of value-add investments, Europe at LaSalle, indicated that the investment firm expects additional opportunities will emerge to expand the joint venture across the UK hotel sector [1]. Both partners plan operational improvements across the acquired assets while maintaining the existing franchise relationships [1].