Industry Update
Press Release17 May 2021

Europe Hotel Transactions Bulletin - Week Ending 14 May 2021

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ECE acquires the Hotel Bonvecchiati in Venice

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German real estate fund manager ECE Real Estate Partners, in a joint venture with real estate developers Soravia and Denkmalneu, has acquired the 191-room Hotel Bonvecchiati in Venice for approximately €100 million (€523,000 per room) from the owning families who have previously run the business. The property, which is located halfway between Piazza San Marco and Rialto Bridge, is spread over some 10,000 sqm and includes a restaurant, spa and two private moorings. The hotel will undergo an extensive renovation and is set to be branded by a major international lifestyle brand. The property will be placed into ECE´s newly launched ECE European Lodging Recovery Fund, which is anchored by the family office of the Otto Family.

Hilton Warwick, UK sold to Serani Hotels

The 181-room Hilton Warwick has been sold to local hotel investor Serani Hotels by UK real estate investor Cowell Group. Located on the M40 motorway near Stratford-on-Avon, some 30 miles southeast of Birmingham, the hotel includes extensive conference facilities, a restaurant and fitness centre. Post-acquisition, the hotel is set to be managed by Countrywide Hotels, who will operate the property under the Delta by Marriott brand subject to a franchise agreement. Prior to reopening, the hotel is set to undergo a renovation.

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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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