German real estate company Aroundtown SA has sold the four-star Hilton Hyde Park in London, UK, for a reported price close to £50 million (£368,000 per room), to an undisclosed family office from Dubai. The 136-room property sits on a 0.47-acre site opposite the north-western corner of Hyde Park in Bayswater, close to the Queensway underground station, with rooms overlooking the park. The hotel is operated by Hilton under a lease agreement until 2031. The new owners are reportedly considering converting the site into residential apartments at the end of the lease.

KE Hotels acquires the Holiday Inn London

Luton Airport Led by Anil Khanna, London-based hotel owner-operator KE Hotels has acquired the three-star, 124-room Holiday Inn London - Luton Airport for an undisclosed sum, from a consortium of private investors. The freehold hotel also has two meeting rooms, a fitness centre and on-site parking, and is located within 10 minutes’ walk from the Luton Airport passenger terminal. The property is operated under a franchise agreement with InterContinental Hotels Group under its Holiday Inn brand. This acquisition increases KE Hotels’ portfolio to four hotels, including the Moxy Manchester, Linton Lodge Oxford and Hotel Indigo Newcastle. The acquisition was funded by British Metro Bank.

Grupotel acquires the Hotel Club Cala Marsal in Mallorca from the Catalá family

Spanish hotel chain Grupotel Hotels & Resorts has acquired the four-star, 347-room Hotel Club Cala Marsal hotel in Mallorca, Spain, from the Catalá family, for an undisclosed sum. The beachfront property is located on the eastern side of the island, less than an hour’s drive from Palma de Mallorca Airport. Grupotel, owned by the Ramis family, now holds a portfolio of 25 hotels in Mallorca, making it the third-largest chain on the island, with another 22 properties located in Menorca, Ibiza, Barcelona, Gran Canaria and Lanzarote, totalling 9,245 rooms across its portfolio. The Hotel Club Cala Marsal is set to undergo an extensive renovation during the 2024-2025 winter season.

California-based Irish businessman Bryan Meehan has acquired the five-star, 46-room Park Hotel in Kenmare, Ireland, from the Brennan brothers and investor Fergal Naughton. The transaction price was not disclosed, but the property was brought to market earlier in 2023 with a €17 million (€370,000 per room) guide price. The property is located on Ireland’s south-west coast, a four-hour drive from Dublin, overlooking Kenmare Bay. The luxury hotel has five F&B outlets, two pools, a private cinema and a spa. Mr. Meeran is the founder, amongst other entrepreneurial ventures, of Blue Bottle Coffee. Francis Brennan acquired the property in 1986 out of administration and the brothers have been operating it since, with Fergal Naughton, Chief Executive at electrical goods company GlenDimplex, as a co-investor since 2017.

ECS acquires B&B HOTEL Lisboa Montijo in Portugal from Sunny and Casais JV

Portuguese private investment firm ECS Capital has acquired the 112-room B&B HOTEL Lisboa Montijo in Lisbon, Portugal, from a joint venture between Spain’s Sunny Real Estate Group and Portuguese construction company Casais, for an undisclosed sum. The hotel is currently leased to French group B&B Hotels, which operates over 720 economy hotels in 15 countries. The subject property is located on the northern coast of the Setúbal peninsula. ECS Capital was acquired in 2022 by a consortium led by investment funds advised by Davidson Kempner Capital Management, for a reported €850 million and included 18 hotels, three golf courses, residential properties and land to develop.

Seneca acquires the Premier Inn Preston Central hotel in Preston, UK, from Aegon

British real estate investment firm Seneca Property has acquired the freehold of the three-star, 140-room Premier Inn Preston Central hotel in Preston, UK, from Aegon AM, for an undisclosed sum. The hotel was put on the market over a year ago for £8.7 million (£62,000 per room). The property is located 500 metres from the Preston railway station in the city centre, and was constructed in 2011 at a reported cost of some £23 million. Premier Inn signed a 25-year lease that year, and the hotel chain accounts for 91% of the property’s total income, generating £725,000 in annual rent. The property also houses two retail stores. Seneca Property oversees a portfolio of 16 assets throughout the United Kingdom, ranging from industrial sites and office spaces to retail properties.

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