Industry Update
Press Release28 September 2020

Europe Hotel Transactions Bulletin - Week Ending 25 September 2020

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Alexey Mityushov acquires Adler Hotel in Sochi, Russia from VEB Vnesheconombank


Russian energy magnate Alexey Mityushov has acquired the 200-room Adler Hotel in Sochi, Russia from state-owned investment firm VEB Vnesheconombank for 1.7b RUB (€18.9m), representing 8.5m RUB (€94,000) per room. Previously known as the Russian Seasons hotel, the property is now expected to be redeveloped into residential apartments.

SBB i Norden acquires Quality Hotel Bodensia in Boden, Sweden

Swedish traded real estate company SBB i Norden has acquired the 99-room Quality Hotel Bodensia in Boden, Sweden from the Boden Municipality, for SEK 31 million (€2.9m), representing 313,000 SEK (€30,000) per room. The property, which is currently leased to Nordic Choice, is expected to undergo a SEK 69 million (€6.5m) renovation.

Imperial Riviera acquires two Croatian resorts from HTP Orebic

Croatian private investment firm Imperial Riviera has acquired a 63% stake in HTP Orebic, a Croatian hospitality and tourism operator, for an undisclosed sum. Orebic's portfolio currently consists of two resorts in southern Croatia, the 99-room Hotel Orsan and the 62-room Hotel Bellevue. Orebic is a tourist port town approximately 100km north-west of Dubrovnik that is popular in summer for its beaches.

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