MetLife And Thayer Lodging Acquire Hilton Resort In Mexico In JV - Quick Facts

(RTTNews) - MetLife Inc. (MET), a provider of insurance, annuities and employee benefit programs, and Thayer Lodging Group acquired the 365-room Hilton Los Cabos Beach & Golf Resort in Cabo San Lucas, Mexico in a joint venture. They purchased the luxury resort from Oasis Cabo LLC. The purchase price was not disclosed.

MetLife is the majority investor in the joint venture with Thayer Fund VI.

This is the first acquisition for Thayer outside the U.S. and the second high profile investment with MetLife for the Thayer Fund VI in the last two months. In July, MetLife and Thayer announced their acquisition of the Ritz-Carlton San Francisco from Host Hotels and Resorts, Inc, Thayer Lodging said.

Thayer Lodging Group, based in Annapolis, Md., is a privately held hotel investment company that was formed in 1991 by Frederic V. Malek and Leland Pillsbury.