Hotel news and transactions from around the European region: easyHotel acquires eight hotels in the Netherlands and Belgium, Folksam Group acquires the Nordic Light Hotel in Stockholm and more...
easyHotel acquires eight hotels in the Netherlands and Belgium from Crossroads
Real estate private equity fund manager Crossroads Real Estate has sold a portfolio of eight Benelux hotels (793 rooms) to budget hotel chain easyHotel for €145 million (€183,000 per room). Three of the hotels are in Amsterdam, two in The Hague, one in Rotterdam, one in Maastricht and one in Brussels. The hotels will remain fully operational during the acquisition process. Prior to the sale, the eight hotels were under a long-term franchise agreement with easyHotel. The acquisition is supported by easyHotel’s majority shareholders Icamap and Ivanhoé Cambridge. The deal increases easyHotel’s owned/leased estate by 59%, now reaching 26 hotels and over 3,000 rooms, evenly split between the UK and Europe.
Archer sells The Dilly hotel in London to Fattal
Israel’s largest hotel group, Fattal Hotels, has acquired the long-term leasehold interest in The Dilly in London from Archer Hotel Capital for an undisclosed sum. Located between Piccadilly and Regent Street in central London and opened in 1908, the 280-room hotel includes an indoor pool, fitness and treatment rooms, two squash courts and seven conference spaces. Fattal, owner and operator of more than 200 hotels including 52 in the UK and Ireland, is planning to invest an additional £90 million into turning the property into a leading luxury hotel. Known previously as Le Meridien Piccadilly, the hotel was acquired in 2010 for £64 million by the Host Hotels & Resorts Europoean JV with Dutch pension fund APG and Singaporean sovereign wealth fund GIC, who acquired Host’s share in 2019 to create Archer Hotel Capital.
Suitcase Hospitality acquires the forward contract on the ibis Styles Paris Villejuif
The 178-room ibis Styles Paris Villejuif has been acquired by Rennes-based Suitcase Hospitality, marking the 12th hotel for the owner-operator. Set to open in early 2024, the hotel will be located 100m from the future Villejuif economic hub in the Grand-Orly Seine Bièvre region outside of Paris, near the new Grand Paris Express train station. Totalling 5,400 sqm, the space includes a bar-cafe hybrid, co-working space, fitness area, breakfast rooms and parking spaces. The property will be Suitcase’s second franchise partnership with ibis Styles and its sixth collaboration with Accor. The group has over 1,500 rooms in the pipeline or under operation and is set to reach 14 hotels by 2025, generating €55 million in revenue.
Folksam Group acquires the Nordic Light Hotel in Stockholm from Norwegian DnB
Folksamgruppen, through KPA Pension, has acquired from Norwegian DnB the 21,000 sqm Vasahuset mixed-use property, of which 30% is the 169-room Nordic Light Hotel, with the rest being mostly offices. The office and hotel property, situated in Stockholm’s central business district, Vasagatan, sold at SEK 3 billion (which converts to approximately €271 million). The building contains historical significance, being a location for rationed food distribution during the first world war, among other purposes. Norwegian DnB acquired the property in February 2003.
MV Werften sells Park Inn by Radisson Wismar in Germany
A family business from Hamburg has acquired both the operating and real estate companies of the Park Inn by Radisson Wismar from Hong Kong-German shipbuilding company MV Werften Group, for an undisclosed sum, as part of an insolvency process. The 100-room hotel is located by the coastline along the Baltic Sea in northern Germany. The hotel was built by MV Werften in 2019, who operated it for three years. The property sold covers approximately 22,500 sqm, with only a portion being used for the hotel and the hotel car park. The MV shipyards in Mecklenburg-Western Pomerania filed for bankruptcy on January 10, 2022.
somnOO Group acquires the Sure Hotel by Best Western Lille Tourcoing in France
Owner and operator somnOO Group has acquired the Sure Hotel by Best Western Lille Tourcoing property and business in northern France. The recently renovated 54-room property includes a restaurant and bar, car park and 6,000 sqm of land. somnOO Group’s portfolio currently includes 50 hotels and 29 restaurants across France and Germany and they are aiming to continue expansion in neighbouring countries.
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