NEW YORK—An affiliate of the principals of Highgate announced that it has entered into a definitive agreement to purchase Viceroy Hotels & Resorts. The Los Angeles-based hospitality group is known for its individual hotels and resorts. The Viceroy brand debuted in 2000 with the launch of Viceroy Santa Monica and has evolved into a portfolio of hotels and resorts in destinations such as St Lucia, Chicago, Los Cabos, and Snowmass.
“We are excited for Viceroy’s future and we believe that this acquisition will not only fuel the future expansion of our brand but also give us a true partner, one who will offer incredible support, opportunity, and collaboration. This deal will accelerate our momentum, and solidify our position as the leading modern luxury lifestyle brand in our space,” stated Bill Walshe, CEO of Viceroy.
“We are thrilled to execute this transaction with Viceroy. Viceroy has built an outstanding customer reputation due in part to its strong service culture and incredible team,” said Richard Russo, principal at Highgate. “Through complementing Viceroy’s platform and DNA with Highgate’s diversified ability to grow through real estate acquisitions, development, and third-party growth channels, Highgate intends to add brand-accretive hotels to the Viceroy portfolio that will further enhance customer perception and brand awareness. Further, through powering Viceroy with a proprietary relationship with Highgate’s operating company, and imparting the benefits of Highgate’s scale, we will be able to provide significant incremental value to associates, guests, owners, and partners.”
“We look forward to working with the Viceroy team to add visible and impactful hotels to the platform, and cement Viceroy as one of the most noteworthy luxury lifestyle hotel brands in the industry,” continued Russo. “In the coming months, we will be announcing exciting additions to the portfolio in major urban gateway markets and select resort destinations that will invoke the distinct quality and luxury service that Viceroy has long been known for.”