Highgate Hotels, a company providing management services on a contract or fee basis, completed the acquisition of the hospitality portfolios of Colony Capital, an American international investment firm, for $2.7bn. "We are excited to continue working with the Colony team in executing on this unique transaction. Despite the unprecedented disruption in hospitality over the past six months, we remain bullish on the long-term secular trends in our industry, and look forward to partnering with the many employees, franchisors, lenders, and other important stakeholders across these portfolios as we work towards a successful recovery," Mahmood Khimji, Highgate Co-Founder and Managing Principal.