Industry Update
Press Release17 December 2018

Europe Hotel Transactions Bulletin - Week Ending 4 December 2018

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LVMH to acquire luxury hotel and leisure company Belmond

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French luxury goods conglomerate LVMH, owner of numerous global brands including Louis Vuitton, Christian Dior, Moët & Chandon and TAG Heuer, has entered an agreement to acquire London-based luxury hotel and leisure company Belmond. The reported price of $3.2 billionincluding debt, reflects a value of $2.6 billion for the overall equity of the group. In the year to September, Belmond reported adjusted earnings before interest, tax, depreciation and amortisation of $140 million from revenues of $572 million. The transaction is expected to complete in the first half of 2019. The acquisition of Belmond's 46 luxury properties in 24 countries will complement LVMH's Cheval Blanc and Bvlgari hotel brands. Previously known as Orient-Express Hotels, Belmond also sells high-end train travel, river cruises, safari and restaurant experiences.

Travelodge Bath Waterside in the UK sold by LaSalle to CCLA

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.

Holiday Inn Cardiff North sold to Fairview Hotels

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.

About HVS

HVS is a leader in global hospitality financial consulting. Hotel owners, developers, investors, lenders, management companies, and public agencies around the world rely on HVS to make informed business decisions. HVS's commitment to excellence and unrivalled hospitality intelligence is delivered by more than 300 people in over 50 offices throughout the world who specialize in a wide range of hospitality assets including hotels, restaurants, casinos, shared ownership lodging, mixed-use developments, spas, and golf courses, as well as conventions, sports, and entertainment facilities. For more information about HVS visit https://hvs.com.

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