Brett Palos and Antony Alberti’s Thackeray Group has teamed up with investor Align Partners on a new £120m joint venture to buy hotels and resorts across the UK and Ireland.
Align Partners is headed by founder and former London & Regional Properties managing director Chris King.
The partnership is in advanced talks to buy properties with a collective value of more than £120m, including repositioning opportunities. It will work with key investors, including family offices, institutions and private equity firms.
Most of its investments are expected to be outright purchases, although the partnership said it will also consider a preferred equity position or working alongside existing owners as joint venture partners.
Align said the partnership will not affect its pipeline or third-party asset management mandates, such as the Morrison in Dublin.
Alberti said: “We believe this is an opportune time to be investing in the UK hospitality market in partnership with one of the most experienced and entrepreneurial companies in the sector.”
King said: “Extreme circumstances have impacted hospitality real estate, both short-term resulting from the pandemic and numerous lockdowns and long-term due to a more systematic and long-standing shift in consumer trends.
“Either way, given the combined skill sets of the two teams and Thackeray’s financial strength, the changing market dynamics bring exceptional repositioning and repurposing opportunities for us to create significant value.”
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