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

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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.

About HVS

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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