Hotel industry and travel news from around the European region: Castleforge acquires Crowne Plaza Royal Terrace, Edinburgh and more...

Schroders and Capital France acquire three–hotel complex in Berlin
British asset managers Schroders Capital and Capital France Hotel, an investment vehicle managed by Schroders, have formally announced their acquisition of a hospitality complex in Alexanderplatz in Berlin for an undisclosed amount. The acquired complex totals 527 rooms, comprised of a 242-room Holiday Inn, a 153-room Indigo Hotel and the 132-room, 705-bed One80° Hostel. The two hotels, that had been operated by the seller under franchise agreements, will both be leased to Premier Inn and will undergo a renovation program. The hostel continues to be operated by the seller under a long-term lease agreement. Capital France Hotel already owns several hotels in Europe’s main strategic destinations, including the Pullman Bercy Paris, the Westin Palace Milan, the Saint Regis Venice, the Radisson Paris Boulogne and the Marriott Monaco Cap d’Ail.

Castleforge acquires Crowne Plaza Royal Terrace, Edinburgh
London-based private real estate investment firm Castleforge Partners has completed the acquisition of the 97-room Crowne Plaza Hotel Royal Terrace in Edinburgh from a high net worth individual for an undisclosed sum. The property will complete a full renovation under the new ownership before re-launching in March 2022. This latest acquisition by Castleforge follows two earlier engagements this year, with the acquisition of the Bruntsfield Hotel in Edinburgh in May and the Hilton Cardiff in June. All three assets will be managed by London-based hotelier Axiom Hospitality. Castleforge Partners, established in 2010, have only recently branched out into acquiring hotel assets.

Corestate acquires Adagio Access Stuttgart Airport Messe from Bulow
Luxembourg-based investment manager Corestate Capital has acquired the Adagio Access Stuttgart Airport Messe in Leinfelden-Echterdingen, Germany from German property developer Bulow AG, for a reported €35 million (€280,000 per key). The 125-key aparthotel had its grand opening earlier this month. Corestate Capital currently owns several assets around Europe, with significant holdings in Germany.
 
Eternam and somnOO acquire the ibis Styles Marseille Aeroport from Turenne
Paris-based investment fund Eternam, in a joint venture with somnOO, have acquired the ibis Styles Marseille Aeroport in France from Turenne Capital for an undisclosed sum. The 117-room, three-star property was acquired by Turenne in 2013 and was renovated in 2015, following which the hotel operated under the ibis Styles flag. Eternam specialises in club deals with a portfolio of over 50 properties in France and the Netherlands. French hotel operator somnOO manages a large portfolio of hotels across France and Germany.

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