Hotel industry and travel news from around the European region: CitizenM acquires landmark site on Champs-Élysées, Paris, Hetherley acquires 120-Room Holiday Inn Express Strathclyde, Glasgow and more...

Trocadero Capital Partners and Alboran acquire the Escalotel Group

Paris-based Trocadero Capital Partners and operating partner Alboran, alongside a consortium including Bpifrance, have announced the acquisition of one of the largest AccorHotels franchisees in France, the Escalotel Group. The portfolio of 12 French hotels (850 rooms) are located in Paris, Amiens, Saint-Quentin and Avignon, and following the acquisition will be operated by Alboran.

Konzum acquires Hunguest’s 538-room CEE Portfolio

As part of Konzum Private Equity Fund’s acquisition of Hunguest Hotels, the publicly traded Hungarian fund has acquired four hotels (588 rooms) in Central and Eastern Europe (CEE), including the 196-room Hotel Forras in Hungary, the 229-room Hunguest Hotel Sun Resort in Montenegro, the 113-room Hunguest Heiligenblut and the 50-room Landhotel Post both in Austria. The total value of the transaction, including the acquisition of 13 other hotels and the Hunguest platform earlier this year, was reported to be €43 million.

CitizenM acquires landmark site on Champs-Élysées, Paris

Netherlands-based CitizenM has acquired a site for a hotel on the prestigious Champs-Élysées in Paris from SAS Etoile des Champs. The Paris property, which will join CitizenM’s 12 trading hotels and 18 properties under development, will be the Dutch hotel company’s fourth property in Paris.

Hetherley acquires 120-Room Holiday Inn Express Strathclyde, Glasgow

The 120-room Holiday Inn Express Strathclyde in Glasgow has been sold to a joint venture between London-based specialist hotel investor Hetherley Capital Partners and Stellar Asset Management, from Meribel Ltd. The hotel which originally opened in 1996, was sold off a guide price of £5.5 million (£46,000 per room), and the new owners are planning a capital expenditure programme of approximately £1.5 million to bring the property to the Holiday Inn Express Gen4 brand standard. The hotel will continue to operate under a franchise agreement, and will be managed by 2HM, a subsidiary of Hetherley Capital Partners.

www.hvs.com