Industry Update
Press Release29 June 2020

Europe Hotel Transactions Bulletin - Week Ending 26 June 2020

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KKR buys Roompot for approximately $1.1 billion

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Private equity fund KKR has announced that it is acquiring the Dutch vacation park business Roompot Group from French private equity group PAI Partners for a reported $1.1 billion. The second largest vacation park operator in Europe, Roompot owns 33 parks in the Netherlands, Belgium and Germany, and operates a total of 150 holiday parks across western and northern Europe. Post-acquisition, KKR plans to grow the platform further with a strong existing pipeline, expanding Roompot's owned assets and new corporate partnerships.

Henderson Park and Hines acquire Greek Portfolio

UK-based private equity fund Henderson Park and North American real estate developer Hines have acquired a portfolio of five hotels on the island of Crete in Greece. The 1,094-room portfolio, acquired through two separate distressed sales, is comprised of seafront properties in various locations across the island, in the coastal cities of Heraklion, Agios Nikolaos and Sitia. The deal marks the joint venture´s second purchase in the Greek market, following the 2017 acquisition of the former Ledra Hotel, which currently trades as the Grand Hyatt Athens.

Renzo Rosso buys the Hotel Ancora in Cortina, Italy

Italian entrepreneur Renzo Rosso has acquired the 49-room Hotel Ancora in the Italian ski resort of Cortina d´Ampezzo from local hotelier Flavia Cusinato. The oldest hotel in the town, having been built in 1826, the property has been acquired by Renzo Rosso´s investment vehicle Red Circle Investments for approximately €20 million (€408,000 per room). The hotel is currently undergoing a renovation, and is expected to re-open by the end of 2020.

About HVS

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.

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