Europe Hotel Transactions Bulletin - Week Ending 01 November 2019
Micael and Pamela Horton, owners of the Cotswold Inns & Hotels, are selling seven hotels, eight staff cottages as well as two bars in Birmingham to UK-based pub company Fullers
for a reported £40 million. The hotels, totalling some 201 guestrooms, include the Hare & Hounds and The Close, both in Tetbury, the Manor House in Moreton-in-Marsh, The Bay Tree and The Lamb, both in Burford, the Bear of Rodborough in Stroud and The Swan in Bibury. The properties included in this transaction generated £3.4 million in EBITDA for the financial year ending 30 September 2018.
French hotel group Boissée Finances, owner of some 82 hotels across Europe plus nine thalassotherapy and spa centres in France, has acquired a Madrid building located in the city's historic centre that will be converted to a hotel, from Princeton Investments for an undisclosed sum. The property, located on Calle de Fomento a few metres from Madrid's main boulevard Gran Vía, is planned to undergo a substantial renovation and to be converted into a 155-room upscale design hotel. Princeton acquired the building from Telefónica in 2015 in a sale-and-leaseback transaction, the lease of which is set to expire in 2022.
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