Europe Hotel Transactions Bulletin - Week Ending 29 March 2019
Benson Elliot and Walton Street Capital have sold the 350-room Sheraton Warsaw to London-based Patron Capital. Part of the previous JV with Benson Elliot and Walton Street, Schroders Hotels will stay in as Patron's JV partner in the deal. The property, located within close proximity of the city's embassy district, recently underwent a €6 million refurbishment to upgrade the rooms and public areas, as well as securing planning permission for an additional retail unit on the ground floor.
UK-based Aviva Investors has entered into a forward-funding deal to acquire the mixed-use development at Circle Square, Manchester, for £45 million, from a joint venture between Bruntwood, Select Property and Greater Manchester Pension Fund. The project will comprise a 158-room hotel built on top of a 1,000-space car park, with agreed lease terms of 25 and 35 years, respectively, whose tenants are yet to be confirmed. Completion is scheduled for August 2020.
Mallorca-based hotel chain Fergus Hotels has acquired the remaining 74% stake in the Cala Blanca Suites hotel in Mallorca. The 175-room hotel, located on Mallorca's west coast in Santa Ponsa, was repositioned from a three-star to a four-star hotel in 2013 following Fergus taking over the hotel's operation.
Steve Rushmore - Founder of HVS - has launched an online training course: Hotel Market Analysis and Valuation Using Hotel Valuation Software. This software developed by Steve and HVS is designed to perform hotel market studies, forecasts of income and expense, and hotel valuations. Steve has partnered with the famous Glion Hotel School in Switzerland to produce the course which will quickly bring you up the learning curve to fully understand how the three software models work. Using a combination of videos, readings and interactive exercises with the actual software, you will be able to complete the course in your free time. The professors at Glion, along with the other students taking this course, will be available to answer your questions and help you finish the program. Upon completion, you can keep the software and you will receive a certificate from the Glion Hotel School which can be an important enhancement to your resume.
Click Here to watch a video describing the course.
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