Fladgate advises Akkeron on hotel portfolio purchase

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Fladgate LLP has acted for newly formed company Akkeron Hotels Limited on the acquisition of the Folio hotel business and eight hotels from Mulbourn Limited.

Akkeron Group LLP is an investment business formed in 2008 by Citibank’s former global head of real estate, James Brent. Akkeron Hotels has been launched in partnership with Colin Johnston, managing director of Clear Healthcare, who owns the freeholds to four of the hotels being acquired.

Akkeron Hotels will be led by Brent, Johnston and former managing director of Mulbourn, Matthew Welbourn. The group intends to use the eight Folio hotels as a springboard to build a portfolio of up to 150 regional hotel properties across Britain, whether owner operated, leased and operated, or under management contract.

The Fladgate team acting for Akkeron was led by corporate partner Anthony Vaughan.

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