Europe hotel transaction news - August 03, 2022
Wednesday, 3rd August 2022
Source : HVS

Hotel news and transactions from around the European region: Costafreda family acquires El Hotel Curious in Barcelona and more...

Angelo Gordon and Westmont acquire Room Mate
American alternative investment fund Angelo Gordon, in partnership with Westmont Hospitality Group, have completed the acquisition of Spanish hotel chain Room Mate, with the approval of the Mercantile Court of Madrid. The acquisition of the productive part of the group out of insolvency comes after the completion of its financial restructuring. The purchasers initially invested in Room Mate in April 2022, providing additional working capital at the time. Under the deal now approved by the courts, Room Mate’s current workforce of more than 400 employees will be kept in place and the purchasers will assume nearly €40 million in debts to lessors, suppliers and clients. Room Mate operates 15 properties across Europe, the USA, Mexico and Turkey.

PRODEA and Invel acquire Hotel Bellevue Suites & Spa in Cortina, Italy
Greek real estate investment company PRODEA Investments and independent London-based investment firm Invel Real Estate have jointly acquired the Hotel Bellevue Suites & Spa in Cortina d’Ampezzo in northern Italy. The price was not disclosed. The resort town is scheduled to host the 2026 Winter Olympic Games. The centrally located, four-star hotel features 66 guest rooms including 21 suites, plus 46 service apartments and a wide range of facilities across its 7 floors.

City ID acquires Capel Street property in Dublin
Dutch aparthotel group City ID has acquired its fifth property, on Dublin’s historical Capel Street, which will contain 104 apartments on completion, featuring fully furnished kitchens and living spaces. This latest acquisition adds to the group’s three properties in Amsterdam and one in Westminster in London that is due to open in 2024 and is part of the aparthotel group’s larger plan to invest €1 billion over the next five years in European cities. The Netherland’s largest pension provider, APG, acquired a stake in City ID in 2019, matching that of previous City ID backer, Australian pension fund Aware Super.

Fairtree acquires Daffodil Hotel & Spa in the UK’s Lake District
South African investment manager Fairtree, with the backing by funds advised by Blantyre Capital Limited, has acquired the independently owned, four-star Daffodil Hotel & Spa in Grasmere in north-western England’s Lake District, for an undisclosed price. Overlooking Lake Grasmere, the 78-room hotel features four F&B outlets as well as function and leisure facilities. This transaction marks Fairtree’s and Blantyre’s third deal of the year already, following their acquisition of two Scottish luxury properties, Fonab Castle Hotel and Dunkeld House in Perthshire.

Costafreda family acquires El Hotel Curious in Barcelona
The son of Spanish pastry group Panrico’s founder, Albert Costafreda, has acquired the 24-room El Hotel Curious in Barcelona for €6 million (€250,000 per room) through one of his investment firms. The property is centrally located in the Catalonian capital’s lively Gothic Quarter, close to the Mercat de la Boqueria, the Picasso Museum and Plaza Catalunya. El Hotel Curious is the only urban property of the vacation hotel chain operator ALEGRIA Hotels.


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