Hotel, travel and transactions news from around the European region: 4C Hotel Group acquires The Exhibitionist hotel in London, Archer and Event sell Sheraton Berlin and more...
Archer and Event sell Sheraton Berlin to DFI and Cells Group
London-based private equity firm Deutsche Finance International (DFI), in partnership with German property manager Cells Group, have entered into an agreement to acquire the 394-room Sheraton Berlin Grand Hotel Esplanade for €116 million (€294,000 per room) from Archer Hotel Capital and Event Hotels. DFI’s pan-European value-add fund is the majority shareholder in the acquisition. The purchasers plan to create a new mixed-use destination comprising offices and new food and beverage outlets, alongside an upgraded hotel.
Perial acquires Club Med Grand Messif Samoëns, France from Covivio
French real estate investor Covivio has sold the Club Med Grand Massif Samoëns, located in the French Alps, for €125 million (€297,000 per room) to fellow French investor Perial Asset Management via its PFO2 fund. The hotel has been operated since its opening by Club Med under a long-term lease with a fixed rent. The property comprises 420 guest rooms, two restaurants, two bars, accommodation for 165 employees, as well as a range of leisure facilities and kids’ clubs.
4C Hotel Group acquires The Exhibitionist hotel in London
London-based 4C Hotel Group has acquired The Exhibitionist hotel in South Kensington, London for £10.6 million (£287,000 per room) from an undisclosed seller. The freehold boutique hotel on Queensberry Place reportedly sold for a net yield of just over 2%. It is the first time the freehold of the property has been sold for over 75 years. The hotel is let on a triple net lease for a further 15 years, with four-yearly upward only rent reviews. It generates a current annual rent of £237,500.
Melexis acquires Suite Hotel Sofia in Bulgaria from NIKMI
Belgian semi-conductor manufacturer Melexis has acquired the 122-room Suite Hotel Sofia in Sofia, Bulgaria, from Bulgarian developer NIKMI for a reported €10 million (€82,000 per room). The hotel, which is currently closed for renovation, is located in the south-eastern part of the city near the National Sports Academy.
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