An international hospitality group is seeking operating hotel portfolios or groups for acquisition to scale a new five-star lifestyle leisure brand. Ideally 4-6 unencumbered assets, predominantly lifestyle / luxury and entry-level five-star, with a mix of urban and leisure exposure for balanced cash flow. Property types: Adults-only: intimate villa and room-led resorts, 60-120 keys Family / wellness / sport: destination resorts, 150-250 rooms Urban: city-centre hotels with year-round cash flow Adventure: lodges, 60-120 villas or rooms Locations: Europe (primary) - leisure and mixed urban-leisure East Africa - luxury lodges and resorts Indian Ocean - luxury island and beach resorts Eastern Seaboard, USA - Tier-1 gateway cities only, if a small portfolio can be secured Looking for: healthy base trading, strong locations and manageable CapEx, with upside through renovation, operations, F&B or repositioning. A high proportion of owned assets preferred; existing brands, franchises or leases acceptable where control and rebranding flexibility remain. Branded residences considered where market-supported. Will not progress: weak control, complex minority or JV structures, heavy midscale exposure, reliance on leased assets with limited flexibility, unclear title or litigation, restrictive operator terms, seasonality overlap without an offset, or earnings reliant on speculative growth or major reconstruction. Fewer than three unencumbered assets is a fast reject unless there is a clear carve-out path. To be screened, please send a concise teaser: assets (locations, keys, positioning, owned / leased / managed split); transaction (seller or mandate route, price, structure, operator contracts, exit terms, timetable); and numbers (annual and current revenue, EBITDA, occupancy, ADR / RevPAR, monthly seasonality, required CapEx). Flag missing information rather than estimating.