Advent International and GHL Hotels agree to form a partnership to accelerate GHL’s growth in Latin America
BOGOTÁ, May 3, 2022 – 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.
About GHL Hotels
GHL Hotels has more than 56 years of experience operating world-renowned brands such as Sheraton, Four Points by Sheraton, Sonesta, Hyatt and Radisson. Additionally, they have developed their own brands that include GHL Collection, GHL Relax and GHL Style.
About Advent International Colombia
Advent International has been present in Colombia since 2011 and currently has 12 professionals dedicated to investing in the country. The team has invested more than US$1 billion in companies with relevant operations in Colombia such as LifeMiles, Alianza Fiduciaria, Alianza Valores, Grupo Biotoscana, GTM, Ocensa and most recently, Sophos Solutions.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 390 private equity investments across 41 countries, and as of December 31, 2021, had $88 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 265 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.