Europe Hotel Transactions Bulletin - Week Ending 21 February 2020

Patron Capital sells Dublin Hostel to Blackrock

The 412-bed Jacobs Inn Hostel in Dublin has been acquired by North American asset manager Blackrock for a reported €30 million (€79,000 per bed), from private equity firm Patron Capital. The sale comes 16 months after Patron's acquisition of the property together with its joint-venture partner Code Pod Hostels, who have been operating the property and overseeing its recent renovation. Post-acquisition the hostel will be managed by Amistat, a specialist hostel operator acquired by Blackrock mid-2019.

AJ Capital acquires the Marine Hotel & Spa in North Berwick, Scotland

The 83-room Marine Hotel & Spa in North Berwick, Scotland, has been sold by UK hotel owner and operator Macdonald Hotels to North American private equity firm Adventurous Journeys Capital Partners (AJ Capital) that specializes in owning and operating lodging accommodations. This transaction marks the third hotel AJ Capital has acquired from Macdonald Hotels within twelve months. Situated 40 km from Edinburgh, the property will undergo extensive renovations, adding six rooms, two new F&B venues, and additional meeting space.

Meet us at IHIF in Berlin from March 2-4

Russell Kett, Charles Human, Chris Martin, Sophie Perret, Arlett Hoff, Peter Szabo and Nicolas Auer are attending, with Russell Kett and Sophie Perret hosting panel discussions. Reach out to set up a meeting, or stop by stand 44 in the Potsdam Foyer at the conference - we look forward to seeing you there!