An affiliate of the principals of Highgate has entered into a definitive agreement to acquire Viceroy Hotels & Resorts, a luxury hotel company that made its debut in 2000
"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," said Viceroy Hotels & Resorts CEO Bill Walshe, in a statement.
"This deal will accelerate our momentum and solidify our position as the leading modern luxury lifestyle brand in our space."
Added Richard Russo, principal at Highgate, "Viceroy has built an outstanding customer reputation due in part to its strong service culture and incredible team."
"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," added Russo.
Following the opening of Viceroy Santa Monica in 2000, the company has expanded its reach to a variety of other US destinations, as well as Mexico, the Caribbean and Europe.
Highgate is a real estate and hospitality management company with a portfolio of more than 500 owned and/or managed hotels in the U.S., Europe, Latin America and the Caribbean.
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