Hotel industry and travel news from around the European region: Fortress acquires majority stake in PREM Group, Blasson acquires the Hotel Punta Negra de Mallorca, Spain and more...
Azora acquires Bluserena from the Maresca family
Madrid-based private equity real estate manager Azora has acquired Bluserena SPA, Italy’s second largest resort operator, from the Maresca family, for an undisclosed sum. The transaction, which was completed on behalf of Azora’s latest pan-European hospitality fund, Azora European Hotel & Lodging, F.C.R., includes Bluserena’s 13-property portfolio of predominately four-star holiday villages, as well as its operating platform. Bluserena operates all 13 assets, of which eight are owned, totalling 4,200 rooms in Italy’s main coastal destinations including Sardinia, Sicily, Apulia, Abruzzo, Piedmont and Calabria. The eight owned assets will reportedly undergo a €30 million investment programme to strengthen the Bluserena brand.
Fortress acquires majority stake in PREM Group
American investment manager Fortress Investment Group LLC has acquired a majority stake in Dublin-based PREM Group through an off-market acquisition. PREM leases, owns and operates 38 assets across Europe with over 3,000 rooms. The group operates 15 serviced apartments under its own PREMIER SUITES brand, the expansion of which will be one of the top priorities for the group going forward. Fortress and the PREM Group’s management team are allocating equity in a joint business plan to grow the company through the acquisition of freehold hotel and serviced apartment properties in target cities across Europe.
Blasson acquires the Hotel Punta Negra de Mallorca, Spain
Spain’s Blasson Property Investments has acquired the Hotel Punta Negra de Mallorca for an estimated €90 million (€667,000 per room). The total investment value of the transaction for the 135-bedroom, four-star property has been reported to be €180 million, consisting of the sale price plus a further €90 million to undertake a comprehensive renovation to reposition the asset to five-star luxury level. The property occupies a peninsula surrounded by the Mediterranean Sea and provides direct access to two (semi-private) coves. H10, who have been operating the property since 2003 as their first hotel in Majorca, will reportedly continue until the repositioning works commence.
Aina Hospitality sells the Four Points by Sheraton Milan Center
A leading American private equity fund has reportedly acquired the Four Points by Sheraton Milan Center from specialist hotel investment firm Aina Hospitality for an undisclosed sum. The standalone, 238-room four-star property is situated in one of Milan’s main central business districts, Porta Nuova, and underwent a major renovation in 2018. The hotel is currently operated by Effe Enne Hotels S.r.l. under a franchise agreement with Marriott.
Mazabi acquires the Hotel Cap Roig Nature in L’Ampolla, Spain from The Palm Experience
Spanish multi-family office Mazabi Gestión de Patrimonios has acquired the Hotel Cap Roig Nature in L’Ampolla, Spain from Spanish hotel group The Palm Experience. The property is located on the south coast of Catalonia, around 70 kms from Tarragona and 160 kms from Barcelona. The three-star asset, Mazabi’s fifth hotel acquisition of the year, features 139 apartment-style bedrooms and was acquired as part of a sale and lease-back deal which will see The Palm Experience continue to operate the property until December 2022. The seaside resort will then undergo a renovation with the aim of repositioning the property to four-star standard.
Hamburg Team acquires Hansator Hotel, Münster from Landmarken
German investment manager Hamburg Team has acquired the Hansator Hotel in Münster from German real estate developer Landmarken AG for an undisclosed sum. The 195-room budget design hotel was acquired as part of a mixed-use development, which includes 313 residential units, retail space and food and beverage spaces totalling an area of 28,400 square metres, of which the hotel accounts for some 5,300 square metres. The new-build property will be operated by prizeotel, an economy design hotel chain currently managing nine properties across Germany, Belgium and Switzerland. Hamburg Team performed the transaction on behalf of two pension funds.
Fragrance acquires Aloft Liverpool from North John Street
Singaporean hotel developer and owner Fragrance Group has acquired the Aloft Liverpool from UK-based North John Street LLP for a sum reported to be in the region of £12 million (£103,000 per room). The four-star, 116-bedroom hotel, which was converted from the former Royal Insurance Company head office building in 2014, features two restaurants and bars, a gym and five event spaces. RBH Hospitality Management, who currently manage the Aloft Liverpool also operate all five UK assets of Fragrance Group and will extend their partnership with Fragrance Group for this Liverpool asset.
Private investor acquires Das Carls Hotel, Düsseldorf from German Pension fund
A private investor has acquired the Das Carls Hotel in Düsseldorf from a Hamburg-based pension fund for a sum reported to be in the “low double-digit million range”. The four-star property, located in Düsseldorf’s most exclusive neighbourhood in Carlstadt, features 73 rooms, meeting rooms, a sauna and a bar, spanning an area of some 2,700 square metres.
Vischjager Vastgoed acquires The Albus Hotel, Amsterdam
Dutch real estate company Vischjager Vastgoed has acquired The Albus Hotel in Amsterdam from a private investment vehicle for an undisclosed sum. The 72-bedroom hotel includes a bar and restaurant and three additional studios. The centrally located property, in walking distance to Rembrandtplein, Rokin and the Flower Market, is leased to The Albus on a long-term basis.
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