Europe Hotel Transactions Bulletin - Week Ending 15 February 2019
The Nordics' largest hotel company, Scandic Hotels Group, has signed an agreement for the sale of the Scandic Hasselbacken in Stockholm for around €22 million (€195,000 per room). The incoming owner, Pop House AB, will take over the hotel's operation on 1st March and already operates the nearby ABBA The Museum and the Pop House Hotel. The Hasselbacken hotel, which had been operated by Scandic since 1992, is located on the Djurgården island and comprises 113 rooms.
Principal Real Estate Europe, formerly known as Internos Global Investors, has sold the INK Hotel MGallery by Sofitel in Amsterdam for around €60 million (€405,000 per room) to a fund managed by European real estate manager Amundi Immobilier. The four-star property, comprising 148 rooms, is located in the city centre and was initially acquired by Principal from Accor in a sale-and-leaseback deal in 2012. The property was renovated in 2015 and has since won two luxury boutique and design hotel awards.
French multi-business hotel owner and operator AccorHotels has completed the acquisition of a further 33% of the shares in Orbis for an estimated value of €442 million, which takes Accor's total ownership of Orbis to around 86%. Warsaw-based Orbis is Central and Eastern Europe's largest hotel operator and the exclusive local master franchisee for a number of Accor's major hotel brands, operating a total of 128 hotels with some 21,000 rooms in 16 countries under the Sofitel, Pullman, MGallery, Novotel, Mercure, Ibis, Ibis Styles and Ibis Budget brands.
HVS is pleased to announce that Florian Kittler has been promoted and will oversee HVS Executive Search in Europe & Asia Pacific as Managing Director. Florian will be based out of London and Frankfurt and will lead this year's expansion with new offices in Singapore and Frankfurt. For the full press release please click here.
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.