Hotel news and transactions from around the European region: Rosewood Villa Magna and Bless hotels in Madrid sold and more...
Sancus acquires the Rosewood Villa Magna and Bless hotels in Madrid from RLH
Sancus Hotels, a vehicle owned by Spanish asset manager Sancus Capital Partners, has acquired Mexican luxury hotel investor RLH Properties’ two Madrid hotels, the 154-room Rosewood Villa Magna and 111-room Bless Hotel Madrid, for an undisclosed sum. The Sancus Hotels fund is led by Borja Escalada, who is currently the CEO of RLH Properties, where he is planned to remain as CEO for another 12 months. RLH will be exiting the Spanish market and plan to concentrate on the Mexican and Caribbean markets. RLH acquired the Villa Magna property for €210 million in late 2018, subsequently investing a further €50 million to convert the property into the Rosewood Villa Magna. The group then acquired the Bless Hotel, operated by Palladium Hotel Group, for €150 million in September 2021. Both hotels are located in Madrid’s prestigious Salamanca district.
Archer acquires the Royal St. Honoré hotel in Paris
London-based Archer Hotel Capital has acquired the 68-room Royal St. Honoré hotel in Paris for €87 million (€1,279,000 per room). The property also includes a prominent retail unit located on Paris’s famous shopping street, Rue St. Honoré. The hotel is located adjacent to Archer’s Renaissance Paris Vendome Hotel, and will be operated by Archer Hotel Management, Archer’s operating arm. Launched in 2018, Archer Hotel Capital is a specialist European hotel investment vehicle jointly owned by affiliates of Dutch pension investor APG Asset Management and Singapore’s sovereign wealth fund GIC.
RTP acquires the future Travelodge Chiswick in London
RTP Global Real Estate has purchased the future 113-room Travelodge Chiswick site and committed to fully-funding the development for £19.4 million (£171,000 per room). The hotel is located in Chiswick in London, next to the Chiswick Business Park and Flyover. The hotel is expected to be completed in 2023 Q4 and will be let to Travelodge Hotels Limited on a 35-year lease upon completion. The acquisition follows the Hounslow Council’s planning committee’s decision to approve the building of the hotel. RTP Global Real Estate is RTP Global’s real estate fund with capital committed to commercial real estate investments in the UK.
Palace Resorts acquires controlling stake in Baglioni
Mexican hotel group Palace Resorts, owned by the Chapur family, has acquired a 75% stake in Italy-based Baglioni Hotels and Resorts, for an undisclosed sum. Guido Polito will remain as Baglioni’s CEO. The deal will see the Baglioni brand expand into the US market, which represents 70% of Palace Resorts’ business, and provide access to the over 75,000 Palace Elite Vacation Club members in Palace Resorts’ loyalty network. Palace Resorts will also benefit from Baglioni management’s operational expertise in the European market, to assist with the growth of Palace’s Le Blanc and Moon Palace brands which they intend to launch in Europe. Palace currently has eight resorts in Mexico and one in Jamaica. Baglioni will add an eighth property to its European portfolio, in Milan, in January 2023 and also operates a resort in the Maldives.
Primestar acquires Mercure Hotel Berlin Mitte
Berlin-based Primestar Group has acquired the 120-room Mercure Hotel Berlin Mitte near Potsdamer Platz and Gleisdreieck in Berlin, Germany, for an undisclosed price. This is Primestar’s third hotel in Berlin, but its first franchise with Accor, with its other two properties being a Hampton by Hilton franchise in Berlin City Centre Alexanderplatz, and their own flagship under their June Six Hotels brand, located in Berlin City West. Primestar’s German portfolio now totals 15 hotels and 3,454 rooms, with a further hotel in Vienna in the pipeline. The group is currently focusing on growing through acquisitions of “existing hotels, leases or operators”.
Crest Hotels acquires Metropole Hotel & Spa in Powys, Wales
Gurjinder and Parminder Singh of Crest Hotels have acquired the 109-room Metropole Hotel & Spa in the spa town of Llandrindod Wells in Wales, for an undisclosed amount. The hotel was owned and operated independently by the same family since 1897, most recently by fifth generation Justin Baird-Murray and Sarah Hill, who significantly upgraded the hotel’s facilities during their tenure. Crest Hotels focuses on buying, developing and managing hotels in the UK and currently has seven hotels (486 rooms) in its portfolio.