Industry Update
Press Release29 April 2019

Europe Hotel Transactions Bulletin - Week Ending 26 April 2019

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Crowne Plaza London Kensington acquired by Heeton-led consortium

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A Singaporean consortium led by real estate investment company Heeton Holdings (60%), together with Ho Lee Group (20%) and KSH Holdings (20%), have acquired the 163-room Crowne Plaza London Kensington for £83.4 million (£512,000 per room), from hotel investment vehicle LC London. Heeton Holdings now owns 12 hotels, eight of which are located in the UK.

Hamilton and Centerbridge acquire Belgian Hotel Portfolio

In a partnership between London's Hamilton Hotel Investors and New York-based private equity firm Centerbridge Partners, a portfolio of nine hotels have been acquired from WNE Investor S.À R.L. The hotels, five of which operate under the Holiday Inn and Holiday Inn Express brands, are located in Belgium and France, comprising a total of 1,120 rooms in locations including Antwerp, Hasselt, Ghent and Liege in Belgium, as well as Calais in France. While Hamilton will assume the management of the portfolio, the new owners will deploy substantial capital into the refurbishment of F&B, public spaces and guest rooms.

Extendam and Schroder acquire the Aloft Brussels

A partnership led by Extendam and Schroder Real Estate Hotels has acquired the 150-room Aloft Brussels Schuman in Brussels. Located in the vicinity of a number of EU institutions, the Aloft Brussels represents Schroder's third acquisition in the Belgian capital. The property will be refurbished by its new owners, and the current Marriott management contract will be converted to a franchise agreement.

Hilton Cyprus sold to Pangea and Invel Real Estate

The 294-room Hilton Cyprus has been sold for €55.5 million (€189,000 per room) to a consortium between listed Greek real estate investor NBG Pangea and Southern Europe focused real estate private equity firm Invel Real Estate. The hotel located in Nicosia's centre will undergo an extensive renovation, and also comes with a significant plot of land that its new owners intend to develop for residential use.

About HVS

HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.

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