Invesco, Westmont Hospitality to co-invest in hotel properties

Invesco Real Estate has signed definitive agreements with affiliates of Westmont Hospitality Group as its strategic partner for a portfolio of IHG branded hotels located in key cities in Germany as well as in Amsterdam.

As Invesco Real Estate’s strategic partner, Westmont will act as the tenant of the portfolio, as well as co-invest with Invesco’s clients in the property-owning companies. As part of the deal, significant further investment is expected to be made into eight Holiday Inn Express hotels across Germany and a hotel in Heidelberg, Germany. The appointment of Westmont followed a rigorous tender process run by Invesco with the support of its long-term adviser, CBRE Hotels.

David Kellett, senior director – hotel transactions, Invesco Real Estate, said, “The hotel sector has been significantly disrupted by the COVID-19 pandemic, but there remains a strong, long-term investment case for the hospitality sector as markets recover from the pandemic, driven in