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Former Citibank executive launches hotels platform

Akkeron Group, the investment business formed by ex-global head of real estate and lodging at Citibank, James Brent, has launched a hotels investment business after purchasing Folio hotels’ assets.

Akkeron Group, the London-based investment business of former global head of real estate and lodging at Citibank James Brent, has launched a hotels investment business.

In an announcement, Akkeron said it had formed Akkeron Hotels after purchasing an eight-strong Folio hotels portfolio for an undisclosed sum. The purchase includes the leasehold interests of the assets which are spread across the south of the country.

The firm said it plans to build a portfolio of up to 150 regional hotels across the UK through a “blend” of ownerships, leases and management contracts.

Brent said: “The regional UK hotel market provides a real opportunity for a company such as ours. Akkeron Hotels has been set up to capitalise on current market conditions.”

Akeron was set up in 2008 by Brent, with a focus on real estate-based operational businesses. The firm specializes is “management-intensive” real estate portfolios such as hotels, residential assets.