Hotel industry and travel news from around the European region: LaSalle acquires the NH Collection Gran Hotel Calderon in Barcelona, Honotel acquires Excelsior hotel in Nice and more...

LaSalle acquires the NH Collection Gran Hotel Calderon in Barcelona
LaSalle has acquired the 225-room NH Collection Gran Hotel Calderon, located in a prime central location on Ramblas Catalunya in Barcelona, from NH Group SA, for €125.5 million (€558,000 per room). The asset was acquired on behalf of Encore+, LaSalle’s flagship pan-European fund. NH will continue to operate the hotel under a 20-year lease agreement, with two further twenty-year renewal options. The turnover-based lease will include a minimum guaranteed rent that represents 4.14% yield on the stabilised fixed rent from the third year onwards, following a post-Covid build-up in the first two years. The hotel underwent an €11 million renovation that was completed in 2017.

Bain and Orka acquire Park Lane Mews Hotel in Mayfair, London
Global credit specialist Bain Capital Credit and alternative investment firm Orka Investments have acquired the 72-room Park Lane Mews Hotel and 17 adjacent residential units in Mayfair, London, with the aim of repositioning the property to offer a new hotel experience. The property, which is located just a few minutes walk from both Hyde and Green Park, is to undergo a full renovation including the guest rooms, communal areas, the lobby and the restaurant, while maintaining the building’s historic façade.

Honotel acquires Excelsior hotel in Nice
French investment manager Honotel Group has acquired the 42-room Excelsior Hotel in Nice on behalf of Hôtel Investissement Capital, the group’s investment management company. Honotel’s ninth acquisition, the 4-star hotel is located in the heart of the Gare Sud district, a few minutes from the Premonade des Anglais. The investment is being made by Hôtel Investissement Capital on behalf of the Cap Hospitality fund and by a new fund, Cap Hospitality III, which launched in 2021.

Star Gestion acquires hotel M89 in Milan from Torre
Italy-based investment firm Star Gestion Srl have acquired the 55-room hotel M89 in Milan from Italian investment manager Torre Sgr for €7.7 million (€140,000 per room). The hotel, which is located in the Taliedo neighborhood on the southeastern side of the city along Via Mecenate, was previously purchased by the seller for the purposes of renovation back in 2017. It is reportedly encumbered by a management contract with 14 years remaining.

Atream acquires B&B Zaandam outside of Amsterdam
French private equity firm Atream has acquired the 93-room B&B Zaandam, just north of Amsterdam’s city centre. The acquisition is accompanied by a 20-year lease to B&B Hotels, who will renovate the budget hotel to align with B&B’s new urban concept that focuses on an open-spaced lobby and bar. The hotel is set to benefit from the possible extension of Amsterdam’s metro to Zaandam in the coming years.

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