Hotel industry and travel news from around the European region: Anbang sells DoubleTree in Amsterdam to AXA, Singapores Fragrance group buys hotel in Plymouth, Assas Hotels and Extendam acquire the Institut Hotel in Grenoble and more...
AXA acquires DoubleTree in Amsterdam from Anbang for 425 million
French AXA Investment Managers has completed the acquisition of the DoubleTree by Hilton Amsterdam Centraal Station from Chinese insurance group Anbang for a reported 425 million (763,000 per room). The 557-room property includes 48 suites, 15 meeting rooms and a highly successful rooftop bar. The hotel is situated adjacent to Amsterdams Central Station, a short walk from the heart of the historic city centre.
Patrizia acquires the Holiday Inn Express Düsseldorf from Dereco
German real estate investment firm Patrizia AG is acquiring the Holiday Inn Express in Düsseldorf from independent German investment manager Dereco. The 164-room property is centrally located in Düsseldorf and fully let to Foremost Hospitality on a 20-year lease. The hotel will be rebranded into a Premier Inn in the next two years, following Premier Inns owner Whitbreads acquisition of Foremosts hotel portfolio in 2018.
BMO acquires Tafelhof Palais in Nuremberg from Hubert Haupt Immobilien
London-based BMO Real Estate Partners is acquiring the Tafelhof Palais mixed-use site in Nuremberg from German investment group Hubert Haupt Immobilien. The former post office building, which has sat vacant for nearly 20 years, will be completely refurbished. Almost all of the total space has reportedly already been leased, with tenants including the four-star Leonardo Royal Hotel Nuremberg and Motel One alongside flexible office and co-working areas.
LFPI acquired Bielefelder Hof in Germany from Bielefelder GmbH & Co
French alternative asset manager LFPI Group has reportedly acquired the four-star Bielefelder Hof hotel in Germany from Bielefelder GmbH & Co. The acquisition of the 161-room property in the city centre of Bielefeld, a city of around 340,000 inhabitants situated half-way between Düsseldorf and Hamburg, is part of LFPIs plan to add around 15 properties to their current portfolio to strengthen their position in Germany and Central Europe.
Henotel acquires the Mercure Lille Métropole from Turenne Capital
French hotel group Henotel has purchased the Mercure Lille Métropole from French investors Turenne Hôtellerie, Turenne Capital's hotel arm, alongside state-owned investment bank BPIfrance. The 125-room hotel was acquired by Turenne in 2013 and underwent extensive renovations between 2014 and 2015.
Assas Hotels and Extendam acquire the Institut Hotel in Grenoble, France
French boutique hotelier Assas Hotels, together with financial support from private equity firm Extendam, have acquired the Institut Hotel in Grenoble in the French Alps. The 48-room property is Assas Hotels seventh hotel in France and is planned to be repositioned as a luxury boutique hotel. The two companies have a long-standing relationship, having partnered on previous development projects.
Singapores Fragrance Group buys Duke of Cornwall Hotel in Plymouth
Joint owners Jonathan Morcom and Walter Combstock have sold the historic Duke of Cornwall Hotel in Plymouth to Singapore-based development firm Fragrance Group in a multi-million-pound deal. The buyer is leasing the 72-room property to boutique operator Bespoke Hotels, which currently operates around 70 properties in the UK.
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