FCA Group buys hotel portfolio from its parent company

US: FCA Group, the American real estate investment and property management arm of the Libra Group, has acquired all of its parent company’s North American hotels.

US: FCA Group, the American real estate investment and property management arm of the Libra Group, has acquired all of its parent company’s North American hotels.
 
In addition to its current assets, FCA will now own 12 properties in Connecticut, New Hampshire, Rhode Island, Massachusetts, Vermont and Maine. The properties include the White Barn Inn in Kennebunk, Maine; The Vanderbilt Grace in Newport, Rhode Island, and The Mayflower Grace in Washington, Connecticut.

The hotels are managed by Hay Creek Hotels, and FCA’s sister company, Grace Hotels. Three of the properties are part of the Relais & Chateaux collection.
 
FCA’s CEO, Frank Espinosa, stated: “This move is designed to consolidate real estate ownership in the hands of our expert team that can provide investment management, property management and where necessary, co-ordination of the hotel development process. We continue to look for complementary hospitality acquisition opportunities throughout the USA and Central America.”

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