Safestay sells Edinburgh hostel to A&O

TPG-owned German hostel owner operator A&O Hotels and Hostels has acquired the 600-bed Safestay Hostel in Edinburgh for £16 million (£26,000 per bed) from hostel owner Safestay. The property located off Edinburgh's Royal Mile is the Scottish capital's largest hostel and will be operated under the A&O brand by its new owners. The property has been sold due to cash needs of the seller during the COVID-19 pandemic, and proceeds from the sale will be used to reduce debt as well as to fund the seller's cash-burn over the remaining months of the pandemic.

H.I.G acquires the Hotel Ullensvang in Norway

North American private equity firm H.I.G. Capital, in a joint venture with its operating partner Hamilton Hotel Partners, has announced the acquisition of the 170-key Hotel Ullensvang, a waterside resort located in Norway's Hardanger fjord. The seller is the Utne family, who have owned the property for over 175 years. A well-established leisure and conference hotel within the Norwegian market, the property offers views of the fjord and the nearby Folgefonna glacier. While the Utne family will hand over management to the new owners, the hotel will continue to be independently branded under new ownership.

MNK Partners buys the B&B Lisbon Airport hotel

French real estate fund MNK Partners has acquired the 188-room B&B Hotel Lisbon Airport
for €14 million (€74,000 per room) from Goldman Sachs-owned B&B Hotels. Located next to Lisbon's Humberto Delgado Airport, the hotel was recently developed by the seller and is set to be operated by B&B under a long-term lease agreement.

The Grange Hotel York, England sold by Jeremy and Vivien Cassel

Jeremy and Vivien Cassel, owner operators of the Grange Hotel in the centre of the city of York in northern England, have sold the 41-room property to an undisclosed private buyer. One of York's leading hotels, which includes the award winning The Ivy Brasserie, the Cassels had owned the elegant country-house style hotel for over 30 years.

Next Point acquires Costa Brava hotel

Next Point, a Spanish listed SOCIMI, has announced the acquisition of a 114-room unbranded hotel in Figueres, in the Spanish province of Gerona. The €6 million (€52,000 per room) transaction on the Spanish Costa Brava coast is Next Point´s third acquisition since its public listing in July 2020.

Dumbleton Hall hotel in England's Cotswolds region sold to US HNWI

Dumbleton Hall, a 38-room Grade-II heritage listed manor house hotel located in the north of England's Cotswolds region, has been sold to Paul Velzolles, a US-based high net worth individual. The hotel, which includes 16 acres of parkland, had been on the market since November 2019 with a guide price of £6 million (£157,000 per room). The property traces its origins back to 1534, and has been sold after 60 years of ownership by the Post Office Fellowship of Remembrance, which was established as a memorial to post office workers who died in the two World Wars, and trades as Classic Hotels.

Portfolio of three hotels in Bucharest, Romania acquired by Zeus Capital Partners

Greek hotel operator Zeus Capital Partners has acquired a portfolio of three hotels in the Romanian capital city of Bucharest from the Alpha Bank Group. The 148-room portfolio includes the 51-room Hotel Venezia, the 33-room Opera Hotel
and the 64-room Central Hotel. Zeus has been managing the portfolio for the past six years and is planning to commence a capex plan for all three hotels shortly.

Hotel La Bastide in Saint-Tropez, France acquired by Hotel Par Collection

The 26-room Hotel La Bastide in the French resort town of Saint-Tropez has been acquired by the Hotel Par Collection, a local hotel owner operator platform owned by the Pariente family. Sold by its founders, Boris-Serge and Janine Sidoroff, the Relais & Chateaux affiliated property is located 10 minutes from the centre of Saint-Tropez and includes two restaurants, a 150 sqm infinity pool and a combination of 21 hotel rooms and 5 apartments.

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