Property investor Henderson Park has acquired both the Hilton London Metropole and Hilton Birmingham Metropole hotels in a deal that's thought to be worth approximately £500 million.
The acquisition represents Henderson Park's first move into UK hotels and raises its spending spree to date to an estimated $1.3 billion of assets, reports The Telegraph.
Made up of 790 bedrooms, the Birmingham Metropole is the UK's largest hotel outside of London, with the 1,059 London Metropole being the second biggest hotel in the city in relation to room count. The sale of the venues was facilitated by Edward Wojakovski's Tonstate property group.
Henderson Park has proclaimed that the hotels will continue to operate under the Hilton banner while the investment firm's asset management team seek to enhance profitability in the long term.