European Hotel Transaction Bulletin – Week Ending February 25, 2022

HVS Hodges Ward Elliott advises on sale of Brooklyn Hotel in Manchester to CDL

HVS Hodges Ward Elliott acted for Roundapple Hotel Partners in arranging the sale of the long-term interest in the 189-room Brooklyn Hotel in Manchester to Singapore-based REIT CDL Hospitality Trusts. Located in Manchester city centre, the new four-star lifestyle hotel was completed in early 2020, just before the onset of the Covid-19 pandemic. The property is operated by Bespoke Hotels, one of the UK’s largest independent hotel groups.

Atlas Hotels acquires the Chardon Group’s portfolio of six properties in Scotland

Private property investment and leisure firm London & Regional, through its Atlas Hotels vehicle, has acquired the Chardon Group’s portfolio of six properties in Scotland, for an undisclosed sum. The 569-room portfolio includes five Holiday Inn Express hotels and one Holiday Inn, located in Glasgow, Edinburgh, Dunfermline and Perth. With this transaction, Altas’ portfolio grows to a total of 60 UK sites with over 7,400 rooms. L+R has earmarked an additional £200 million to further develop Atlas Hotels.

Alchemy Partners sells Inn Collection Group in the UK to Kings Park Capital

UK private equity firm Alchemy Partners has disposed of its investment in the UK’s Inn Collection group in a deal believed to be worth more than £300m, after acquiring the portfolio in 2018 from private equity firm Kings Park Capital, which has now bought the expanded collection alongside Harris Family Trusts, a major player in The Bourne Leisure Group until last year. Since acquiring Alchemy in 2018, the Inn Collection group has grown from 10 to 31 properties across the north of England, spanning from York to the Lake District and as far north as Northumberland.

Arlaes buys Hard Rock Hotel Madrid from ActivumSG

Germany-based private equity investment manager ActivumSG Capital Management has sold the Hard Rock Hotel Madrid to investment and management company Arlaes Management for €65 million (€404,000 per room). The 161-room hotel, a conversion of a former municipal office building, was acquired from ActivumSG’s Iberia Fund and is located in the Spanish capital’s museum district and close to the city’s main train station. , Atocha. The hotel opened to guests in July 2021 and following the transaction will continue to be operated by Hard Rock International.

Santander and Signal acquire the Sheraton La Caleta Resort in Tenerife from Grupo Disa

Spain’s largest lender, Banco Santander, and London-based Signal Capital Partners have completed the acquisition of the 284-room Sheraton La Caleta Resort & Spa in Tenerife, Spain’s Canary Islands, from energy company Grupo Disa, based in Tenerife, for 80 million euros. (€282,000 per room). The luxury resort was acquired through the JV Signal Santander European Hospitality fund launched in 2021. Last year the couple each committed €100m to the fund, with La Caleta being the first investment in this new partnership . The five-star resort is managed by Marriott and includes four restaurants, two bars, a spa and entertainment facilities.

Relaxia acquires the Beverly Park Hotel in Gran Canaria, Spain

The Spanish group Perez Moreno, through its hotel branch Relaxia Hotels, has acquired the Beverly Park Hotel in Gran Canaria, Spain, for 51 million euros (€109,000 per room). The 469-room vacation resort was previously owned by the Ruiz-Mateos family (via its entity Maspalomas Hoteles SAU) who declared bankruptcy on the property in 2011. After a sale process that ultimately lasted ten years, Relaxia became the successful bidder. and, with this acquisition, expands its portfolio to five assets under the Relaxia flag. The three-star hotel, located on the south coast of the island, includes a buffet restaurant, a tennis court and five swimming pools.

Stoneweg and Bain acquire the Don Carlos Hotel Ibiza from Palladium

The hospitality real estate joint venture between Stoneweg and Bain has acquired another Spanish property at the Don Carlos Hotel in Ibiza, Spain, for 50 million euros (€298,000 per room). The latest acquisition follows two very recent deals in Marbella and Barcelona earlier this year. The JV, which acquired the hotel from Ibiza’s Palladium Hotel Group, plans to reposition the asset towards a lifestyle concept, with an agreement in place for Palladium to continue to manage the property until the end of the 2022 season. The beachfront hotel, located in the coastal town of Santa Eulalia del Rio on the Balearic island, includes two restaurants, a bar, a gym and a swimming pool.

LaSalle on a long-term ground lease for Crowne Plaza Blackfriars, London

LaSalle Investment Management has purchased the freehold reversion of Crowne Plaza Blackfriars, an upmarket 204-key hotel in Blackfriars, London. The seller of the long-term ground rent revenue stream is Blackfriars Hotel (UK) Holdings Limited, which has owned the hotel for approximately 15 years and will use the funds to refurbish, reposition and rebrand the property as the second Hyatt Regency hotel of London under a management agreement with Hyatt. Located in the Blackfriars area of ​​the City of London, near St Paul’s Cathedral and close to Blackfriars Bridge and the River Thames, the building was originally constructed in 1916 as offices for Spicer Brothers Paper Merchants. The building was redeveloped in 1998 to create the four star Blackfriars Hotel.

NAOS eventually buys the Sheraton Nice Airport with financing from ICG

NAOS Hotel Group has ultimately purchased the 235-room Sheraton Hotel at Nice Airport in France from the developer, for an undisclosed price. NAOS reportedly received a €62 million loan from ICG to finance the forward purchase. The 4-star hotel is expected to open in spring 2022.

FBD Hotels acquires Killashee House in Ireland from Tetrarch Capital

Irish property group FBD Hotels & Resorts has acquired the Killashee Hotel in Co Kildare, Ireland, from Dublin-based Tetrarch Capital for €25 million (€177,000 per room). The four-star, 141-room hotel, located 30km from Dublin city center on 55 acres, offers conference, wedding, spa and leisure facilities. FBD Hotels & Resorts, owned by Farmer Business Developments, an investment holding company with mostly farmers as shareholders, now has six hotels in its portfolio.

Bourne Leisure acquires The Runnymede on Thames Hotel, UK, from Ralph Trustees Limited

UK hotel operator Bourne Leisure has acquired the 180-bedroom Runnymede on Thames hotel from the Ralph Family Trustees Limited, for an undisclosed sum. The four-star property, located on the River Thames a 10-minute drive from Windsor and around 30km west of central London, will join the Blackstone-backed operator’s Warner Leisure Hotels portfolio. Operated for 35 years by the Ralph Trustees group which also operates two luxury hotels, The Athenaeum in London and The Grove in Hertfordshire, the Runnymede on Thames offers several restaurants, seven meeting rooms and a spa.

Stoneweg and Bain acquire the Don Carlos Hotel Ibiza from Palladium

The hospitality real estate joint venture between Stoneweg and Bain has acquired another Spanish property at the Don Carlos Hotel in Ibiza, Spain, for 50 million euros (€298,000 per room). The latest acquisition follows two very recent deals in Marbella and Barcelona earlier this year. The JV, which acquired the hotel from Ibiza’s Palladium Hotel Group, plans to reposition the asset towards a lifestyle concept, with an agreement in place for Palladium to continue to manage the property until the end of the 2022 season. The beachfront hotel, located in the coastal town of Santa Eulalia del Rio on the Balearic island, includes two restaurants, a bar, a gym and a swimming pool.

Castleforge acquires Abbey Hotel in Bath, UK from KE Hotels

London-based property investor Castleforge has acquired the 65-room Abbey Hotel in Bath, England, from independent owner-operator KE Hotels, for an undisclosed sum. The transaction includes the hotel and two adjoining buildings. Castleforge plans to add 15 more rooms to the property, and London-based Axiom Hospitality has been contracted to manage the hotel. This is Castleforge’s fourth hotel acquisition, following three transactions in 2021 to acquire the Bruntsfield Hotel in Edinburgh, the Hilton Cardiff and the Crowne Plaza Edinburgh.

ADR Fastigheter acquires Hoom Home & Hotel near Stockholm from Genoa

Stockholm-based ADR Fastigheter has acquired the 153-room Hoom Home & Hotel from Swedish investors Genova Property Group for €20.2 million (€132,000 per room). The extended-stay property is located in Svealand, outside Stockholm, and was purchased by Genova from the developer in 2018 after its completion.

About HVS

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