Advent International agreed to make an undisclosed investment in Colombia-based third-party hotel operator GHL Hotels as part of a partnership to support the company’s expansion across Latin America.
(Advent International) Advent International (“Advent”), one of the largest and most experienced global private equity investors, and GHL Hotels (“GHL”), one of the largest third-party hotel operator in the region, part of GHL Group, today announced that they have agreed to enter into a partnership, whereby Advent will invest in GHL and support its expansion across Latin America.
The partnership will strengthen GHL’s financial position to accelerate growth through new operating contracts, additional investments in hotels and acquisitions of other third-party hotel operators.
Jorge Londoño, Co-Founder and CEO of GHL, said, “This investment from a world-class investor like Advent is a sign of confidence in our potential and an endorsement of our business model, track record and achievements. We have big expansion plans to consolidate our position as the largest Latin American player in the sector, and by partnering with Advent we are confident that we will achieve this goal.”
“We are excited to partner with GHL, a company that has achieved excellent growth and strong performance in a sector that shows great prospects in Colombia and the region,” said Mauricio Salgar, Managing Director of Advent International in Bogotá. “We look forward to working with GHL’s management team and supporting the company’s growth and consolidation in the region. As a seasoned investor in the hospitality sector, Advent will provide knowledge and expertise in an industry that is increasingly dominated by global players.”
GHL is the largest third-party hotel operator in the Andean region and Central America. It began operations in 1964 with five hotels in the south of Colombia. Fifty-six years later, GHL is one of the main authorized multi-brand operators in the region, operating 62 hotels in Colombia, Ecuador, Perú, Central America, Chile, and Argentina, with a portfolio of more than 7,000 rooms and 5,000 employees. The portfolio includes hotels operating under international brands such as Hyatt, Marriott, Radisson and Sonesta.
“In more developed markets, such as the United States, we’ve seen hotel operations shift to specialized third-party hotel operators rather than hotel chains or property owners,” added Salgar of Advent. “This trend is now expanding into other markets, including in Latin America, where GHL is a leading player and aspires to continue solidifying its position in the market.”
This investment follows Advent’s acquisition of a majority stake in Aimbridge Hospitality, the world’s leading third-party hotel management company, with approximately 1,500 properties in 20 countries and in 49 states of USA. Aimbridge operates a diverse portfolio of brands that includes 84 different lodging brands, in addition to the more than 82 independent boutique/lifestyle hotels they operate. During Advent’s investment, the company has significantly grown its hotel portfolio and in 2021 acquired Prisma Hotels, the largest hotel operator in Mexico with 42 hotels and more than 7,500 rooms across the country.