Europe Hotel Transactions Bulletin - Week Ending 4 December 2018
LaSalle Investment Management has sold the 125-room Travelodge Bath Waterside to a fund managed by CCLA Investment Management for £22 million (£176,000 per room). Since LaSalle's acquisition in 2013, the hotel has undergone a full refurbishment including the addition of a new bar café area and 30 premium rooms.
UK-based Fairview Hotels has acquired the 95-room Holiday Inn Cardiff North, which is the hotel group's first franchise agreement with IHG. With the acquisition of the three-star hotel, Fairview now operates 13 properties in the United Kingdom, mainly under Accor's Mercure, Novotel and Ibis brands.
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