Hotel, travel and transactions news from around the European region: German based private equity investors, Arlaes acquires Hard Rock Hotel Madrid, LaSalle in long-term ground lease deal for the Crowne Plaza Blackfriars, London and more...
HVS Hodges Ward Elliott advises on sale of Hotel Brooklyn in Manchester to CDL
HVS Hodges Ward Elliott acted for Roundapple Hotel Partners in arranging the sale of the long-leasehold interest in the 189-room Hotel Brooklyn in Manchester, to Singaporean REIT CDL Hospitality Trusts. Located in Manchester’s city centre, the newly constructed four-star lifestyle hotel was completed in early 2020, just before the onset of the Covid-19 pandemic. The property is operated by Bespoke Hotels, one of the UK’s largest independent hotel groups.
Atlas Hotels acquires Chardon Group’s six property portfolio in Scotland
Private real estate and leisure investment firm London & Regional, through its Atlas Hotels vehicle, has acquired Chardon Group’s six property portfolio in Scotland, for an undisclosed sum. The 569-room portfolio includes five Holiday Inn Express hotels and one Holiday Inn, in locations across Glasgow, Edinburgh, Dunfermline and Perth. With this transaction, Altas’ portfolio increases to a total of 60 UK sites with over 7,400 bedrooms. L+R has earmarked a further £200 million to continue to expand Atlas Hotels.
Alchemy Partners sells Inn Collection Group in the UK to Kings Park Capital
British private equity firm Alchemy Partners has exited its investment in the Inn Collection Group in the UK in a deal said to be worth more than £300 million, after acquiring the portfolio in 2018 from private equity firm Kings Park Capital, who have now bought back the expanded collection alongside the Harris Family Trusts, a major stakeholder in The Bourne Leisure Group until last year. Since Alchemy’s acquisition in 2018, the Inn Collection Group has expanded from 10 to 31 properties across the north of England, ranging from York to the Lake District and as far north as Northumberland.
Arlaes acquires Hard Rock Hotel Madrid from ActivumSG
German based private equity investment manager ActivumSG Capital Management has sold the Hard Rock Hotel Madrid to the investment and management company Arlaes Management for €65 million (€404,000 per room). The 161-room hotel, a conversion from a former municipal office building, was acquired from ActivumSG’s Iberia Fund I and is located in the Spanish capital’s Museum District and close to the city’s main train station, Atocha. The hotel opened to guests in July 2021 and, following the transaction, will continue to be operated by Hard Rock International.
Santander and Signal acquire the Sheraton La Caleta Resort in Tenerife from Grupo Disa
Spain’s largest lender, Banco Santander, and London-based Signal Capital Partners have completed the acquisition of the 284-room Sheraton La Caleta Resort & Spa in Tenerife, in Spain’s Canary Islands, from Tenerife-based energy company Grupo Disa, for €80 million (€282,000 per room). The luxury complex was acquired through the 2021-launched JV fund Signal Santander European Hospitality. Last year, the pair had each committed €100 million to the fund, with the La Caleta being the first investment in this new partnership. The five-star resort is managed by Marriott and includes four restaurants, two bars, a spa and entertainment facilities.
Relaxia acquire Hotel Beverly Park in Gran Canaria, Spain
Spanish Grupo Perez Moreno, through its hospitality arm Relaxia Hotels, has acquired the Beverly Park Hotel in Gran Canaria, Spain, for €51 million (€109,000 per room). The 469-room holiday complex was previously owned by the Ruiz-Mateos family (through its entity Maspalomas Hoteles SAU) who had declared bankruptcy on the property back in 2011. Following a sale process that eventually took ten years, Relaxia emerged as the successful bidder and, with this acquisition, grows its portfolio to five assets under the Relaxia flag. The three-star hotel, located on the southern coast of the island, includes a buffet restaurant, a tennis court and five swimming pools.
Stoneweg and Bain acquire the Don Carlos Hotel Ibiza from Palladium
The real estate hospitality joint venture between Stoneweg and Bain has acquired another Spanish property in the Don Carlos Hotel in Ibiza, Spain, for €50 million (€298,000 per room). The latest acquisition follows two very recent deals in Marbella and Barcelona earlier this year. The JV, which acquired the hotel from Ibiza’s Palladium Hotel Group, plans to reposition the asset towards a lifestyle concept, with an agreement in place for Palladium to continue to manage the property until the close of the 2022 season. The seafront hotel, located in the coastal town of Santa Eulalia del Rio on the Balearic Island, includes two restaurants, a bar, a gym and swimming pool.
LaSalle in long-term ground lease deal for the Crowne Plaza Blackfriars, London
LaSalle Investment Management has purchased the freehold reversion of the Crowne Plaza Blackfriars, a 204-key upper upscale hotel in Blackfriars, London. The seller of the long-term ground rent income stream is Blackfriars Hotel (UK) Holdings Limited, who have owned the hotel for some 15 years and who will use the funds to refurbish, reposition and rebrand the property as London’s second Hyatt Regency hotel under a management agreement with Hyatt. Located in the Blackfriars area of the City of London, near St Paul’s Cathedral and close to the Blackfriars Bridge and River Thames, the building was originally constructed in 1916 as offices for Spicer Brothers Paper Merchants. The building was redeveloped in 1998 to create the four-star Blackfriars hotel.
NAOS forward purchases Sheraton Nice Airport with financing from ICG
NAOS Hotel Group has forward purchased the 235-room Sheraton Hotel at Nice Airport in France from the developer, for an undisclosed price. NAOS reportedly received a loan of €62 million from ICG to finance the forward purchase. The 4-star hotel is due to open in the spring of 2022.
FBD Hotels acquires Killashee House in Ireland from Tetrarch Capital
Irish property group FBD Hotels & Resorts has acquired the Killashee Hotel in Co Kildare, Ireland, from Dublin-based Tetrarch Capital, for €25 million (€177,000 per room). The four-star, 141-room hotel, located 30km from Dublin city centre on 55 acres of extensive grounds, features conference, wedding, spa and leisure facilities. FBD Hotels & Resorts, owned by Farmer Business Developments, an investment holding company consisting mostly of farmers as shareholders, now includes six hotels in its portfolio.
Bourne Leisure acquires The Runnymede on Thames Hotel, UK, from Ralph Trustees Limited
UK Hotel operator Bourne Leisure has acquired the 180-room Runnymede on Thames Hotel from family run Ralph Trustees Limited, for an undisclosed sum. The four-star property, located on the River Thames a 10-minute drive from Windsor and some 30km west of central London, will join the Warner Leisure Hotels portfolio of the Blackstone-backed operator. Operated for 35 years by the Ralph Trustees Group which also operates two luxury hotels, The Athenaeum in London and The Grove in Hertfordshire, the Runnymede on Thames features several dining outlets, seven meeting rooms and a spa.
Stoneweg and Bain acquire the Don Carlos Hotel Ibiza from Palladium
The real estate hospitality joint venture between Stoneweg and Bain has acquired another Spanish property in the Don Carlos Hotel in Ibiza, Spain, for €50 million (€298,000 per room). The latest acquisition follows two very recent deals in Marbella and Barcelona earlier this year. The JV, which acquired the hotel from Ibiza’s Palladium Hotel Group, plans to reposition the asset towards a lifestyle concept, with an agreement in place for Palladium to continue to manage the property until the close of the 2022 season. The seafront hotel, located in the coastal town of Santa Eulalia del Rio on the Balearic Island, includes two restaurants, a bar, a gym and swimming pool.
Castleforge acquires Abbey Hotel in Bath, UK from KE Hotels
London-based property investor Castleforge has acquired the 65-room Abbey Hotel in Bath, England, from independent hotel owner-operator KE Hotels, for an undisclosed sum. The transaction includes the hotel and two adjoining buildings. Castleforge plans to add a further 15 bedrooms to the property, and London-based Axiom Hospitality has been contracted to manage the hotel. This is Castleforge’s fourth hotel acquisition, after three transactions in 2021 to acquire the Bruntsfield hotel in Edinburgh, the Hilton Cardiff and the Crowne Plaza Edinburgh.
ADR Fastigheter acquires Hoom Home & Hotel outside Stockholm from Genova
Stockholm-based ADR Fastigheter has acquired the 153-room Hoom Home & Hotel from Swedish investors Genova Property Group, for a reported €20.2 million (€132,000 per room). The extended stay property is located in Svealand outside Stockholm and was purchased by Genova from the developer back in 2018 following its completion.
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