Prodea to acquire a further 55% stake in MHV from Cypriot group Yoda

Greek real estate investment company Prodea has entered an agreement to acquire an additional 55% stake in Mediterranean Hospitality Venture PLC (MHV) from Cypriot investment conglomerate Yoda PLC, which will bring Prodea’s total stake in MHV to 80%. The remaining 20% is held by Invel Real Estate through its subsidiary Flowpulse Limited. MHV engages in real estate development with a focus on high-end hospitality properties. It presently owns luxury hotel and resort assets in Cyprus, such as the Parklane Resort & Spa in Limassol (Luxury Collection), The Landmark Nicosia (Autograph Collection) and a 50% stake in the Aphrodite Hills Resort, as well as the Nikki Beach Resort & Spa in Porto Heli in Greece. MHV is listed on the Cyprus Stock Exchange with real estate assets valued at circa €555 million. Prodea, listed on the Athens Stock Exchange, has total assets exceeding €3 billion, including three mid-market hotels in the Greek cities of Athens, Thessaloniki and Patras.

Eternam and QuinSpark acquire two hotels in Chamonix, France

French portfolio manager Eternam, through a club deal of private investors in its FPCI Chamonix fund, and French owner operator QuinSpark, have acquired two hotels in Chamonix, France, from an undisclosed seller for an undisclosed amount. The two four-star hotels are Hotel Le Morgane, 56 rooms, and Hotel Le Refuge des Aiglons, 107 rooms. The former is expected to undergo an extensive renovation of its rooms, spa and restaurant, whilst the latter will have its food and beverage outlet revamped. Eternam presently oversees some €450 million invested in hotel assets. Quinspark was established in 2023 by ex-Algonquin and Schroders executives Frederic de Brem and Stephane Obadia. This transaction marks its second acquisition, after it took possession earlier this year of the 50-room, four-star Chalet Hotel Kaya in Reberty, a village that is part of Les Trois Vallées ski region in France.

Barceló Group acquires Hotel Felipe IV in Valladolid, Spain

Spanish tourism firm Barceló Group has acquired the four-star, 131-room Hotel Felipe IV in Valladolid, Spain, from an undisclosed buyer for an undisclosed amount. Valladolid is a city of some 300,000 inhabitants, located around 200 kms north of Madrid. The hotel includes eight meeting rooms, a gym and a restaurant. Barceló is expected to fully refurbish the property throughout 2024, aiming to reposition the hotel as one of the city’s best. Barceló is currently the second largest hotel chain in Spain, with a presence in 30 countries comprising some 64,000 rooms in 290 properties. Around 100 of these are located in Spain, with its largest domestic footprints being in Andalusia and the Canary Islands.

MarSenses acquires Ferrera Beach Hotel Apartments in Mallorca, Spain

Balearic hotel group MarSenses Hotels and Homes has acquired the four-star, 72-room Ferrera Beach Hotel Apartments aparthotel in Mallorca, Spain, for an undisclosed amount. The property is located on the south-eastern coast of the island in Cala Ferrera, within 70 metres of the beach, and is some 50 minutes by car from the Palma de Mallorca Airport. The aparthotel includes two swimming pools and an 80-seat restaurant. This acquisition represents MarSenses’s fifth property in the Balearic Islands since the brand's creation in 2020 and is its second in Cala Ferrera after the Ferrera Blanca hotel. The group is looking to expand its footprint on the islands following strong performances in 2022 and 2023.

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