88 THE WORLD OF HOSPITALITY
LRC GROUP
LRC Group Acquires Amaris Hospitality & Adds
Seven New Hotels To Its Growing Hotel Platform
Hotel
LRC Group (“LRC”), the fast-growing pan-
European property investor and manager,
today announced it has acquired Amaris
Hospitality and has agreed to add seven
Hilton-branded hotels from funds managed
by Oaktree Capital Management, L.P.
(“Oaktree”) to the Amaris Hospitality portfolio
for an undisclosed consideration.
The transaction for the seven hotels, which all
trade under the DoubleTree by Hilton brand,
is expected to close later this year.
Amaris Hospitality will become LRC’s new
hotel investment and management platform
and will manage the new hotels on behalf of
LRC, bringing the total number of hotels in
the Amaris Hospitality portfolio to 30.
The addition of the new hotels forms part
of LRC’s plan to accelerate the growth of
its hotel investments and through Amaris
Hospitality create a high performing, long-
term investment portfolio of over 50 high-
quality, internationally-branded hotel assets.
The seven Hilton-branded hotels comprise
over 1,000 contemporary rooms and
extensive conferencing facilities and employ
approximately 900 people. They will add to
Amaris Hospitality’s existing 23 hotels which
trade under the Hilton, Hilton Garden Inn,
DoubleTree by Hilton, Mercure and Ibis Styles
brands, which between them have 3,800
rooms and employ 1,800 people.
Peter Stack has been appointed Managing
Director of Amaris Hospitality, having
previously been Managing Director of Asset
Management with the Group. Other key
members of the new Amaris Hospitality
leadership team include Stephanie Gosling,
who has been appointed Commercial
Director; David Webster, Senior Operations
Director, and Kirstine Rowland, Head of
Human Resources.
John Brennan, the outgoing CEO of Amaris
Hospitality, has been appointed non-
executive Chairman of Amaris Hospitality by
LRC and will act as a strategic advisor to LRC
on all hospitality investments.
Commenting on today’s announcement,
Peter Stack, Managing Director of Amaris
Hospitality, said:
“We are very excited about working with our
new owners LRC Group and as the addition
of these seven hotels demonstrates togeth