Hotel industry and travel news from around the European region: US private equity firms bidding to acquire HNA’s stake in NH Hotels, Hilton Garden Inn Feldkirchen, Germany sold to Oxin Investment Holding and more...

US private equity firms bidding to acquire HNA’s stake in NH Hotels 
Following weeks of speculation, several US private equity firms are understood to have submitted bids for HNA’s 29.5% ownership stake in NH Hotels. Bidders are reported to include Lone Star(together with Hyatt) Apollo Global and Elliott Management. According to Spanish news, the bids range between €5.50 and €6 per share, compared with NH’s closing price yesterday of €6.36. The final bidders have apparently been joined by Thai hotel group Minor, which very recently acquired an 8.6% stake in NH for €30 million, from Oceanwood. However, if Minor were to also acquire HNA’s stake, it would exceed the 30% threshold that would oblige it to offer a takeover bid for the entire company.

Hilton Garden Inn Feldkirchen, Germany sold to Oxin Investment Holding 
The Munich-based developer CV-Projectenwicklung has sold the 166-room Hilton Garden Innin Feldkirchen, Germany to Iranian firm Oxin Investment Holding. The property, which is currently being developed, is located near the Munich Trade Fair. Tristar Hotel Group will operate the hotel under a 20-year lease agreement, signed in 2017 with CV-Projectenwicklung.

Dr. Peters Group acquires the Courtyard by Marriott Oberpfaffenhofen, Germany 
The 174-room Courtyard by Marriott Oberpfaffenhofen, located next to Oberpfaffenhofen’s airfield outside of Munich, was acquired by the Germany-based investment manager, Dr Peters Group. The hotel opened in May 2018 and is surrounded by 13 scientific institutes associated with the German Aerospace Society. The property will be operated under a long-term lease agreement with a local operator, Bierwirth & Kluth Hotel Management.

Deka Immobilien acquires the Ruby Leni Hotel, Düsseldorf 
The Ruby Leni Hotel in Düsseldorf has been sold by OFB-Projectenwicklung to Deka Immobilien. The property was acquired through Deka’s hotel-sector fund, the WestInvest TargetSelect Hotel Fund. The 170-room hotel, which is also home to the Forum Freies Theatre, is currently under extensive renovation work and is expected to open in April 2019. Ruby Hotels & Resortswill manage the property, the group’s second hotel in Düsseldorf, under a lease agreement.

www.hvs.com