Hotel news and transactions from around the European region: Fortimo Group acquires the Grand Hotel Regina in Grindelwald, Switzerland, Kula and Gold Tree acquire future hotel sites in Dublin and Lisbon and more...

Fortimo Group acquires the Grand Hotel Regina in Grindelwald, Switzerland
Swiss real estate company Fortimo Group has acquired the historic 77-room Grand Hotel Regina in Grindelwald for CHF 18.5m (CHF 240,000 per room) through an auction process. The previous owners planned to remodel and expand the hotel, but could not secure funding. The twins Remo and Philipp Bienz, behind the Fortimo Group, have plans to potentially demolish and rebuild the hotel to be placed in the luxury five-star segment. The hotel has reportedly been vacant for ten years, despite its well-connected location next to the Grindelwald train station and amenities like a wellness centre and Turkish steam bath.

Kula and Gold Tree acquire future hotel sites in Dublin and Lisbon
Owner-operator Kula and Gold Tree Group have completed their third and fourth European joint deals, acquiring a property in Dublin and another in Lisbon. The two sites are both planned to be transformed into a flex-stay hotel under the “Kula” brand, are set to open in 2024 and will total 175 rooms. Investment firm Gold Tree Group focuses primarily on fixed income real estate in Switzerland and Germany. UK-based hospitality group Kula specialises in flexible short-term and long-term hotel lofts and apartments, with locations in Australia, Portugal and the UK. Their first two European properties were in Stuttgart and Basel. The flex-stay properties offer a variety of additional services, such as grocery deliveries, personal trainer sessions and language classes.

EXTENDAM acquires the Little Palace Hotel in Paris
French real estate investment firm EXTENDAM has acquired the 53-room four-star Little Palace Hotel in Paris. Located in the Marais, the property has access to many nearby tourist sites and corporate headquarters, attracting both leisure and business visitors. Constructed in 1911, the Haussmannian-style hotel building will undergo some renovation work in the guest rooms and common areas to reposition itself as a modern lifestyle hotel. Younight Hospitality, a subsidiary of VICARTEM, who is a long-term partner of EXTENDAM, will oversee the management of the hotel.

The Clearys acquire the Temple Bar Lane Hotel in Dublin from MM Capital
The owners of the widely known Temple Bar in Dublin, Tom and Jackie Cleary, have purchased the adjacent 36-room Temple Bar Lane Hotel in Dublin for just over €11m (£300,000 per room), from Irish development group MM Capital. In 2018, MM Capital purchased the former 171-room Barnacles Hostel for €8m and then transformed it into the boutique 36-room Temple Bar Lane Hotel.

Langham Hall purchased by next door luxury hotel The Harper in Norfolk, UK
The owners of luxury boutique hotel The Harper have acquired the neighbouring Grade-II listed Langham Hall and an adjoining stable for an undisclosed sum, which will be used to double the hotel’s current size. The properties sit on 1.25 acres of manicured gardens in Norfolk, England. The 8,000 sqm Langham Hall will undergo planned conversions to extend The Harper’s spa, guest accommodations and gym facilities, with some renovation works having already begun.

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