Europe Hotel Transactions Bulletin - Week Ending 26 April 2019
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.
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.
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.
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