The 12 predominantly freehold properties are located in cities including London, Edinburgh, Glasgow and Dublin. The transaction is expected to close later this year.

Financial details were not disclosed, but a source close to the deal places it at over £550 mln (€648 mln).

The 2,424 key portfolio comprises full-service hotels franchised by Hilton, with amenities including business centres, meeting facilities, and full-service leisure clubs with indoor swimming pools and spas. Brands include Hilton Hotels & Resorts; Hilton Garden Inn; and DoubleTree by Hilton.

Henderson Park is in advanced discussions with the existing manager, Amaris Hospitality, for the ongoing management of the hotels.

Nick Weber, founding partner of Henderson Park, said: 'This transaction presents us with a rare opportunity to acquire a large, high-quality portfolio of assets, timed to capitalise on the potential for a near term return to travel as well as a wider post-pandemic recovery over the years to come.

'Hospitality remains a high conviction asset class for Henderson Park, and one where we have an experienced team who are excited to manage this landmark portfolio.'

According to the buyer, the hotels are in excellent condition with opportunities for additional value creation across a range of strategies.

The properties are located in London, Edinburgh, Glasgow and Dublin, as well as Bristol, Coventry, Dartford, Newbury and Southampton. All the hotels benefit from strong transport links and connectivity into key industrial, business and tourist districts.

Said Christophe Kuhbier, managing director at Henderson Park: 'We believe these assets can deliver reliable cash flow, being located in key business and tourism hubs, and see an opportunity to drive growth through hands on management.

'We’ve worked closely with Hilton before and look forward to continuing our partnership and replicating our successes again.'

Finance for the transaction was provided by Apollo. Henderson Park was advised on financing by Eastdil.