Hotel industry and travel news from around the European region: BNP Paribas REIM acquires 3 Ibis hotels in Germany, Bansal Family acquires The Langstone Hotel from BDL and more...
HNA sells stake in Radisson Hospitality AB to Jin Jiang
Chinese Hospitality group Jin Jiang has announced that it will buy a 51.5% stake in Radisson Hospitality AB from HNA Group in a deal that values the company at $671 million ($3.89 per share). The transaction is expected to close at the end of this year and as part of the deal, Jin Jiang will also acquire up to an additional 18.5% stake in Radisson from HNAs Swedish unit. HNA has already disposed of about $17 billion in non-core assets since late last year, including high-profile deals such as the sale of its $6.5 billion stake in Hilton Worldwide, having come under political and financial pressures.
Westmont buys Hilton Dublin Airport from Emerald Investment Partners and Windward
Westmont Hospitality has acquired the 166-room Hilton Dublin Airport from a joint venture between London-based Emerald Investment Partners and Windward Management for 22.5 million (135,500 per room). The acquisition represents Westmonts re-entry into the Irish market following its exit from the Jurys Inn portfolio in 2015.
BNP Paribas REIM acquires 3 Ibis hotels in Germany
BNP Paribas REIM has acquired a portfolio of three Ibis properties in Munich, for its Opus Real and OPCI Diversipierre funds, through a sale-and-lease-back transaction. The portfolio comprises the 167-room Ibis City-East, the 133-room Ibis City-South and the 110-room Ibis Munich Airport, all with a new, 20-year lease agreement with the seller.
Harbour Hotels buys two hotels from Richardson Hotels
UK-based Harbour Hotels has acquired two hotels out of administration from Richardson Hotels, the 37-room Fowey Hotel and the 58-room Metropole Hotel in Padstow on Southern Englands Cornish seaside. The acquisition will take Harbour Hotels UK portfolio up to 13 hotels. The two properties will undergo extensive renovation and reopen during 2019.
AccorHotels to take 85% stake in 21c Museum Hotels
AcccorHotels has agreed to acquire an 85% stake in the US-based boutique hotel group 21c Museum Hotels for $51 million. All eight existing and three 21c Museum hotels under development will join AccorHotels MGallery brand, marking the introduction of the brand in North America. The founders of 21c Museum Hotels, Laura Lee Brown and Steve Wilson, will retain the remaining 15% stake and will continue to be closely involved.
Bansal Family acquires The Langstone Hotel from BDL
The 148-room Langstone Hotel has been bought by the Bansal Family, owner of the Lion Quays Hotel and Spa in Shropshire, from the BDL Select Hotel Group. The hotel, located on Hayling Island near Portsmouth, was the last remaining property from BDL Select Groups six strong portfolio comprising 569 rooms.
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