Tikehau acquires Hôtel California in Paris from Digital
BridgeFrench asset manager Tikehau Capital has acquired the four-star 172-room Hôtel California in Paris for a reported €125 million (€727,000 per room) from investment firm DigitalBridge, previously known as Colony Capital. The hotel is well-situated in the 8th arrondissement of Paris, near the Arc de Triomphe and the Triangle d’Or shopping area. The property originally came on the market for €160 million in February 2021. The hotel has been closed since the beginning of Covid and is expected to be renovated. Colony took control of the property in 2017 through a restructuring of French hotel group Marantha.
Stoneweg and Bain acquire two Be Live hotels in Spain from Globalia
Stoneweg Hospitality, a JV between Stoneweg and Bain Capital, has acquired two Be Live hotels in Spain, the five-star 184-room Be Live Collection Palace de Muro in Mallorca and the four-star 226-room Be Live Experience La Niña in Tenerife, for a reported price of €83 million (€202,000 per room). The seller was the tourism group and owner of the Air Europa airline, Globalia, which is backed by the Hidalgo family. Hyatt is due to operate both properties, and the new owners are expected to spend €33 million on repositioning the properties. Be Live Hotels currently have 29 hotels in their portfolio across Spain, Portugal, Morocco, Colombia, Cuba and the Dominican Republic. This latest purchase by the Stoneweg Hospitality JV follows their 2022 acquisitions of the 168-room Hotel Don Carlos in Ibiza, the 178-room Hotel Los Monteros Spa & Golf Resort in Marbella and in 2021, the 400-room Andalucía Plaza hotel complex in Marbella.
Colossal Panoply acquires the former Luna Alvor Bay in the Algarve, Portugal
Lisbon-based hotel development firm Colossal Panoply has invested a reported €24 million (€161,000 per room) on the acquisition and planned renovation of the former three-star aparthotel Luna Alvor Bay in Portugal’s Algarve region. Located next to the beach outside the resort town of Alvor, the property is scheduled to re-open in July 2024 as the 149-room Wyndham Residences Alvor Bay Hotel. Portuguese hotel operator PG Hotels & Resorts is earmarked to manage the hotel under a franchise agreement with Wyndham.
Alchemy and Step acquire stays by friends Bochum in Germany from Anter
Dusseldorf-based Anter Group has sold the three-star 177-room stays by friends Bochum in Germany to a JV between Alchemy Partners and Step Partners through their hotel investment fund ASHG, for an undisclosed price. Bochum is located near Dortmund, some 50 kms north-east of Dusseldorf. The hotel is due to be repositioned and opened under a new hotel name and operator. In 2020, Anter Group acquired the property as part of a three-hotel portfolio in Bochum and Gelsenkirchen. The hotels were the former Renaissance Hotel (now currently the stays by friends Bochum), the former Courtyard by Marriott at Bochum Stadtpark and the former Courtyard by Marriott Gelsenkirchen.
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.