Hotel industry and travel news from around the European region: Perial to acquire nine Spanish B&Bs from Corum, Propreal sells Regent Berlin to Blackstone and more...

Perial to acquire nine Spanish B&Bs from Corum
Paris-based Perial Asset Management has entered an agreement on behalf of one of its property funds to acquire a 480-room portfolio of five Spanish hotels for €25 million (€52,000 per room), with an agreement to purchase an additional four hotels (402 rooms) in May 2022 for a further €33.4 million (€83,000 per room). The seller is French investment manager Corum. The two-stage transaction, therefore, totals nine hotels with 882 rooms for a price of €58.4 million (€66,000 per room). The first phase includes the 125-room B&B Valencia, 100-room B&B Viladecans, 82-room B&B Figueras, 80-room B&B Mollet and 93-room B&B Girona in Salt, Spain. The second phase will include the 100-room B&B Fuenlabrada, 96-room B&B Granollers in Les Franqueses, 100-room B&B Cartagonova and 96-room B&B Albacete. The hotels are managed by B&B Hotels under an 11-year lease.

Sixth Street acquires Le Palme Hotel & Resort in Porto Cervo
American investment firm Sixth Street Partners has entered the Italian hotel market with the acquisition of the 92-room Le Palme Hotel & Resort in Porto Cervo on the Costa Smeralda in Sardinia, for an undisclosed amount. The acquisition follows Sixth Street’s purchase of five Spanish hotels in December last year. Eidos Partners will act as operational asset manager as the pair redevelop the 17,000 sqm property into a five-star resort, with an expected opening in 2024. Sixth Street and Eidos are in the selection process for a renowned hotel flag and property manager to create a new partnership for the co-management of the ultra-luxury hotel.

Propreal sells Regent Hotel Berlin to Blackstone
Geneva-based real estate investor Propreal Capital Partners has sold the 195-room Regent Hotel Berlin to real estate funds managed by Blackstone. The deal was finalised in late 2021. Propreal had owned the hotel, on behalf of one of its funds, since 2014 . The luxurious Regent Berlin has won numerous awards, including “Germany’s Leading Hotel” in the 2020 World Travel Awards. It is exceptionally located in central Berlin next to Gendarmenmarkt, one block from Friedrichstrasse and within walking distance of the Reichstag and Brandenburg Gate.

Illimity and Cordifin acquire debt on two Venetian hotels
Italy-based Illimity Bank and Italian conglomerate Gruppo Cordifin have acquired €50 million of non-performing debt on two Venetian hotels, from AMCO United as well as Italian bank Intesa Sanpaolo and asset manager Prelios Sgr. The funds were originally lent to Proven srl, which is controlled by a group of Venetian families, as well as a small share to Cordifin. The portfolio includes the 36-room Ai Reali and the 33-room Ai Cavalieri. In 2019, the four-star portfolio of 69 rooms reported a rooms turnover of €7.9 million (€114,000 per room).

W5 acquires Joyn Aparthotel in Frankfurt from Across
W5 Group has acquired the 100-room Joyn Aparthotel in Frankfurt from the Luxembourg-based holding company Across (EL7) Sarl for an undisclosed price. Across originally purchased the property as a forward sale, back in 2019. W5, described as a family investment office which focusses primarily on residential investment, is owned by Ralph Winter, and has offices in Switzerland and the US. The Joyn Aparthotel is located in Frankfurt’s city centre near the Wallanlagen and the Alte Oper concert hall. German-based Numa Group will operate the hotel.

www.hvs.com