Europe Hotel Transactions Bulletin - Week Ending 21 August 2020

Land Union Group acquires the TUI BLUE Sylt in Northern Germany

Berlin-based Land Union Group has acquired the 159-room TUI BLUE Sylt from German hotel developer GBI. The hotel, which is currently undergoing a renovation, has been operated by TUI, subject to a lease agreement, since its opening in 2007. Located on Germany's northernmost island, the 60,000 sqm resort will continue to be operated by TUI, and is expected to reopen under TUI's flagship TUI BLUE brand in April 2021.

SevenCapital buys Royal Angus Hotel in Birmingham, UK

UK real estate developer SevenCapital has acquired the 186-room Royal Angus Hotel in it's home city of Birmingham. The property, which previously traded as a Thistle hotel, is currently closed and is set to undergo an 18-month renovation. Expected to reopen ahead of the 2022 Commonwealth Games, the hotel will be repositioned to a 4-star standard under an aparthotel concept. The property will be SevenCapital's second hotel project in Birmingham, following the Park Regis Hotel and residential project that opened in 2016.

Cypriot investor acquires the Sofia Hotel Balkan in Bulgaria

The former Sheraton hotel in Sofia, Bulgaria, currently trading as the Sofia Hotel Balkan under Marriott's Luxury Collection brand, has been acquired by Cypriot real estate investor Potamiro Limited. The 185-room hotel has been sold by a joint venture led by Greek HNWI Ioannis Papalekas, that has owned the hotel since 2011.