Europe Hotel Transactions Bulletin - Week Ending 14 February 2020

Fattal acquires Golden Tulip Hotel Bucharest from Atlas Estate

The 81-room Golden Tulip Hotel Bucharest has been sold to Israeli hotel owner and operator Fattal Hotels for a reported €9.5 million (€117,000 per room), by local real estate investor Atlas Estate Limited. Located in the city centre of Bucharest, the property will be operated by Fattal under one of its own brands post-acquisition.

M-Square Hotel Budapest sold to Fattal Hotels

The 71-room M-Square Hotel in Budapest has also been acquired by Fattal Hotels for a reported €17 million (€240,000 per room). The hotel in central Budapest, which re-opened last year following a comprehensive renovation, will be operated by Fattal Hotels as their second property in the city.

Cristina Hotel in Gran Canaria, Spain acquired by the Lopez Family

The Cristina Hotel, a 312-room resort property in Las Palmas Gran Canaria in Spain, has been acquired by the Lopez family, local owner-operators of four other hotels in Tenerife and Lanzarote, for a reported price of approximately €40-50 million (€128-160,000 per room). The seller of the property is the Marrero family, who have owned and operated the hotel since they acquired it from Melia 15 years ago.

Queens Hotel Bournemouth acquired by Nq2

The 109-room Queens Hotel Bournemouth has been acquired by Nq2, a local hotel developer and owner, from local entrepreneur James Gordon. The new owners of the hotel will operate the property themselves subject to a franchise agreement with Accor under its Mercure brand. Following a £3 million refurbishment programme, the hotel is expected to be re-classified as a 4-star property.