Industry Update
Press Release10 August 2020

Europe Hotel Transactions Bulletin - Week Ending 7 August 2020

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LMEY Investments acquires Thomas Cook's 50% stake in Westfort Capital

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Netherlands-based hotelier LMEY Investments has completed the acquisition of a 50% stake in Westfort Capital for an undisclosed price from Thomas Cook Group Tour Operations (which is currently in liquidation), resulting in 100% ownership of the hotel investment platform by LMEY. Westford Capital specializes in the repositioning of underperforming resort properties around the Mediterranean. Having acquired 8 new properties as part of the deal, LMEY's portfolio now includes 23 assets primarily in Europe, with over 5,500 rooms.

BNP Paribas REIM acquires Hotel Bold Munchen Giesing for new "MacStone" fund

Investment manager BNP Paribas REIM has acquired the Hotel BOLD Munchen Giesing from the German-based Morten-Gruppe for an undisclosed price. The 142-room budget hotel in the centre of Munich will be the first property added to "BNP Paribas MacStone," which is the company's new open-ended real estate fund exclusively for private customers. The operator has agreed to a new 20-year lease with extension as part of the sale.

Vine Hotels acquires Charlecote Pheasant hotel in Warwickshire, UK from Lone Star

UK-based Vine Hotels has acquired the Charlecote Pheasant hotel in Warwickshire, UK from American equity fund Lone Star for an undisclosed amount. Prior to the purchase, the 70-room countryside hotel was in administration. Lone Star acquired the property in 2014 as part of a £1 billion acquisition of MREF assets, which included 46 Shearings hotels and 21 Moorfield hotels across the UK.

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HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.

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