Hotel industry and travel news from around the European region: John Malone and partners acquire the Moxy Dublin, Extendam acquires six regional French hotels and more...

STRABAG Real Estate forward sells Stuttgart development to Union Investment
German institutional investor Union Investment has acquired the Turm am Mailänder Platz hotel development in Stuttgart, Germany from Austrian developer STRABAG Real Estate for €137 million. The forward sale includes 429 rooms across two new-build hotels, collectively €320,000 per room, being a 169-room Adina Aparthotel and a 260-room Premier Inn. The development, which is scheduled to complete in December 2021, is located in Stuttgart’s Europa district close to the new main railway station. The acquisition, which will be added to the buyer’s open-ended real estate fund Unilmmo: Deutschland, follows a six month hiatus from the buyer on any new hotel investments on account of coronavirus.

LaSalle acquires the ground lease of the St. Martin’s Lane Hotel in London from Vivion
American real estate investment manager LaSalle has acquired the ground lease of the St. Martins Lane Hotel in London from Luxembourg-based real estate investor Vivion for £54.3 million. The quoted yield on the sale is 2.0%. The 100-room luxury property, located in the city’s Theatre District near Covent Garden, is managed by Accor following its recent acquisition of US lifestyle operator SBE. Vivion had previously acquired the hotel along with London’s Sanderson hotel from Qatari Prime Minister Sheikh Hamad bin Jassim Al Thani for £255 million in 2019.

Reliance Industries acquires Stoke Park Hotel in UK from International Group
Indian billionaire Mukesh Ambani’s Reliance Industries has acquired the 49-room Stoke Park Hotel in Buckinghamshire, some 35 kms west of central London, from Hong Kong-based developer International Group, for £57 million (£1.2 million per room). The luxury country club is a heritage site featuring a 27-hole championship golf course, 13 tennis courts, a luxury spa and 14 acres of private gardens. The buyer intends to further enhance the existing sports and leisure facilities. Reliance Industries holds a stake in numerous other hospitality ventures, including the Oberoi Hotels brand and the Bandra-Kurla Complex hotel and convention centre development in Mumbai.

John Malone and partners acquire the Moxy Dublin City
MHL Hotel Collection, an Irish hotel owner operator owned by US billionare John Malone and Irish property developers Paul Higgins and John Lally, has acquired the 157-room Moxy Dublin City from the Spitzer family´s Midwest Holding for €35 million (€223,000 per room). The Moxy Dublin City will join MHL´s existing properties in Dublin, which now include 1,400 rooms in the Irish capital spread across seven hotels.

Azora acquires the Arenas Resort Giverola in Costa Brava, Spain from Arenas The Resorts
Madrid-based private equity firm Azora has acquired the 213-room Arenas Resort Giverola, on Spain’s Costa Brava coast in northeast Catelonia, from Swiss hotel group Arenas The Resorts, for an undisclosed price. The beachfront resort is spread over 35 hectares and features an all-suite product with extensive amenities including five restaurants and bars, sports facilities, multiple swimming pools and a spa. The buyer has appointed Spanish operator Med Playa to manage the resort and plans to invest €40 million (€190,000 per room) to upgrade the facilities to four-star status. The acquisition, made on behalf of the Azora European Hotel and Lodging fund, is the fund’s first acquisition since raising €680 million of seed capital last summer.

Extendam acquires six regional French hotels
French hotel investor Extendam has announced the acquisition of six hotels across France. Acquired through separate transactions, the properties include the 57-room Ibis Styles de Roanne, the 66-room Ibis Budget de Marmande, the 54-room Ibis Budget de Pouilly-en-Auxois, the 78-room Ibis Styles Paris Porte de Versailles Mairie d’Issy, the 61-room Ibis Gap and the 108-room Citadines Grenoble. All six hotel will be operated by third parties under long-term lease agreements. Collectively totaling 358 rooms, the acquisition expands Extendam’s existing portfolio to 238 hotels and over 17,000 rooms across Europe.

Turenne Capital acquires Pax Hotel in Strasbourg, France
French asset manager Turenne Capital has acquired the 100-room Pax Hotel in Strasbourg for an undisclosed price. The acquisition marks Turenne’s venture into lifestyle hotels, as they reported have plans to redevelop the existing space into a buzzing, F&B-centric hospitality space. The property, which is located close to the city’s main train station, benefits from large public spaces, meeting rooms and an interior courtyard terrace. Turenne already owns the four-star Hotel Rohan near the Cathedral in Strasbourg.

Art Hotels acquires Orton Hall Hotel & Spa, Peterborough UK, from Abacus Hotels
Art Hotels, owned by UK entrepreneur Ravi Takhar, has acquired the 70-room Best Western Plus Orton Hall Hotel & Spa in Peterborough, England, from local hotelier Abacus Hotels off a guide price of £5.95 million (£85,000 per room). Located in Cambridgeshire, the Grade-II listed property is set in over 20 acres and features a restaurant and bar, spa, swimming pool and several treatment rooms. Abacus Hotels reportedly sold the property in order to focus attention on its other hotels, which include the Strange Arms Hotel and Knights Hill Hotel & Spa, which are both in Norfolk.

French joint venture to acquire the Standard Design Hotel in Paris
Fonciere Concorde, a joint venture between local real estate investors Groupe Galia and Groupe Terrot, has acquired the 37-room Standard Design Hotel in Paris’s 11th district. Situated near Place de la Bastille, the hotel is located in the same building as the well-known Café des Anges. The new owners plan to commence an extensive renovation of the hotel.

Dalecarlia Hotel & Spa in central Sweden acquired by Cibola Holding
Local leisure hotel investor Cibola Holding AB has acquired the 97-room Dalecarlia Hotel & Spa in central Sweden from NP3 Fastigheter AB. The leisure-oriented hotel, which sits on the shores of Lake Siljan, will be operated by the purchaser under a franchise agreement with Best Western, under the Best Western Collection brand. The acquisition represents Cibola Holding’s third hotel transaction in regional Sweden.

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