Hotel industry and travel news from around Europe, Middle East and the African regions: Hyatt development at Charles de Gaulle Airport sold, Choice Hotels signs strategic agreement with Sercotel, Blackstone acquires stake in Hispania and more...
Fattal Hotels in negotiations to acquire Dutch hotel group for €160 million
Israeli group Fattal Hotels is reported to have entered exclusivity to acquire a Dutch holding company with ownership, rental and management rights to 12 hotels with a total of 1,938 rooms in the Netherlands, for €160 million. Owner David Fattal has been keen to expand his Leonardo brand in the Netherlands, where the group currently has only one trading hotel, compared to 51 hotels in Germany and the 36-strong operating platform of Jurys Inns largely in the UK.
Blackstone acquires 16.5% of Hispania ahead of takeover bid
Blackstone has doubled down on its preference for Spanish real estate by acquiring 16.5% of the Spanish REIT Hispania, managed by Azora and backed by Soros Fund Management, for just over €315 million. The acquisition was followed by its submission of a 100% takeover bid for the REIT, to the Spanish Securities and Exchange Commission at a total value of €1.9 billion, subject to board approval and the ability to acquire at least 50% plus one of the REIT’s shares.
UBM sells its stake in the Park Inn by Radisson Linz, Austria
Developer UBM has announced its sale of its 50% stake in the 175-room Park Inn by Radisson Linz to its JV Partner List Group for €13 million (valuing it at €148,500 per key). The disposal comes after its announcement to move towards a “pure-play” developer model, and its sale of the Park Inn Krakow, as well as its 50% stake to its JV partner in the Hyatt Regency Amsterdam, with further deals expected over the course of the year.
Dual-branded Hyatt development at Charles de Gaulle Airport, Paris is sold
A dual-branded 430-room Hyatt Place and Hyatt House, under development at Paris Nord 2 Business Park close to Charles de Gaulle Airport, has been sold by developers Kaufmann & Broad to an unnamed investor. The hotels are due to open 2020 and will be operated by Dutch group Cycas Hospitality, who already operate the Hyatt Place London Heathrow Airport.
Choice Hotels signs strategic agreement with Spanish company Sercotel
Choice Hotels International has announced a strategic branding, digital and distribution agreement with Sercotel Hoteles Group, who manage 174 hotels across Southern Europe and Latin America, principally in Spain (136 hotels), Andorra (16) and Cuba (6), including the well-known Hotel Barcelona Princess and Negresco Princess.
Topland sells the Hallmark Hotel Bournemouth West Cliff to MLS
Topland, owners of the Hallmark Hotels chain, have sold the Hallmark Bournemouth West Cliff to Motoring and Leisure Services (MLS), a public sector leisure operator, off a guide price of £6.75 million (£81,300 per key). The 83-room hotel has extensive leisure and event facilities, selling off a cap rate of approximately 9%. Topland still owns two Hallmark-branded hotels in Bournemouth, both former Menzies properties.
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