Europe Hotel Transactions Bulletin - Week Ending 13 September 2019
Starwood Capital has sold the 185-room De Vere Horwood Estate hotel, located in a rural setting near Milton Keynes, some 90km northwest of London, to Ziz Hospitality, for a reported price of £15.5 million (£83,800 per room). Ziz Hospitality was founded this year by Karim Kassam, a director of UK group Crimson Hotels.
Special purpose vehicle Accor HotelInvest UK is acquiring two Accor-branded hotels on Blackfriars Road, London, from German investor Commerz Real. The four-star Novotel Blackfriars
and the two-star Ibis Blackfriars comprise 182 rooms and 297 rooms, respectively, and have been operated by Accor since they opened in 2012. Commerz entered into agreements to acquire the double-hotel development from developers McAleer & Rushe in 2010 for its Hausinvest real estate fund.
Swedish asset manager and hotel investor Midstar AB has acquired the Marienlyst Strandhotel in Helsingør, 50km north of Copenhagen, for an undisclosed amount. Midstar bought Artha Asset Management's 49.9% stake as well as private investor Borris Nielsen's share in the hotel. ESS Group will take over management of the hotel.
Family-owned hotel group Red Carnation Hotels has acquired the former student's residence hall - Hatch Hall - in Dublin, which is currently being redeveloped into a luxury boutique hotel, from East Coast Catering Ireland for more than €20 million, according to reports. The property was in East Coast Catering's possession from 2011, when Hatch Hall was acquired for €6 million.
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.