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European hotel transactions news - December 02, 2022
Friday, 2nd December 2022
Source : HVS

Hotel news and transactions from around the European region: Lone Star acquires the Métropole Hotel in Brussels, BNP Paribas acquires Club Med de La Rosière and more...

Lone Star acquires the Métropole Hotel in Brussels from the Bervoets family
The grand five-star, 250-room Métropole Hotel, located in the historic centre of Brussels, Belgium, is to be acquired by American private equity firm Lone Star, through an affiliate of its Lone Star Value Add Fund II, from the Bervoets family, for a price reported to be around €100 million (€400,000 per room). The historic hotel, closed since the start of the Covid pandemic, is set to undergo extensive renovations, with a planned re-opening in early 2025. Lone Star is partnering with Centaurus Hospitality Management, who will operate the hotel upon its reopening. The property also includes an iconic café and nine commercial units, mainly leased to renowned fashion and cosmetics brands. The change of ownership is due to take effect at the end of 2022.

BNP Paribas acquires Club Med de La Rosière from the Foncière des Alpes
BNP Paribas REIM, on behalf of its SCPI Accimmo Pierre fund, has acquired the upscale 442-room Club Med de la Rosière vacation village in the French Alps, from the Foncière des Alpes, for an undisclosed amount. Operated by Club Med since its opening in the 1980’s, the “ski-in, ski-out” resort underwent a major renovation and extension in 2019. Foncière des Alpes was founded in 2015 by Banque des Territoires and the four regional banks of Auvergne-Rhône-Alpes, Banque Populaire Aura, Crédit Agricole des Savoie and Crédit Agricole Sud Rhône Alpes and Caisse d'Epargne Rhône-Alpes. In seven years, the financing company has created a portfolio with nine assets and 6,000 beds, investing nearly €500 million in the northern Alpine region.

Amundi acquires Soho House Paris from Compagnie de Phalsbourg
Investment manager Amundi Immobilier, on behalf of one of its funds, has acquired the Soho House Paris hotel from Compagnie de Phalsbourg, for an undisclosed amount. Opened in 2021, Soho House Paris is one of the 38 Soho House hotels globally part of Nick Jones’ private members club collection. Compagnie de Phalsbourg transformed the former office building in Paris’ Pigalle neighbourhood into the 36-room Paris Soho House through a collaboration with architects Perrot & Richard and Soho House’s in-house interior design team. The private members club hotel includes a bar, restaurant and cabaret room.

Molo acquires the Hotel Alexandra in Rome
Glasgow-based hotel owner and developer Molo Hotel Group has acquired the 57-room Hotel Alexandra Rome for an undisclosed price, with plans to reposition the currently four-star asset into an upscale lifestyle property. The hotel is very well located on Via Veneto, close to the Trevi Fountain and Spanish Steps. As with Molo’s other properties, Hotel Alexandra will be operated by Lighthouse Hotel Management. This purchase marks the group’s first venture into Continental Europe, following its acquisition of the Manchebo Beach Resort and Spa in Aruba last year. Molo now has six operational hotels, plus another three properties under construction and due to open by spring 2023. Seven of these nine hotels are located in the UK, with brands such as Courtyard, Tribute, Indigo and Holiday Inn Express.

Alboran Cofinance JV acquires the Pullman and Adagio Toulouse Centre Ramblas
Paris-based Alboran Hotel Group, in a joint venture with Luxembourg real estate firm Cofinance, has acquired the Pullman Hotel and Aparthotel Adagio Toulouse Centre Ramblas building complex in Toulouse, France, for an undisclosed sum. The property is located in the city centre of Toulouse, in the immediate vicinity of the Matabiau train station. Housed in the same building, the property includes 125 five-star Pullman rooms and 99 four-star Adagio apartments, as well as two bars, nine conferencing rooms, two fitness centres and a parking lot. The new owners plan to undertake a renovation of the complex as part of the region’s Grand Matabiau renewal project.

Compostela Beach acquires the Bahia de Vigo Hotel in Spain
The first four-star hotel in the Spanish city of Vigo, the 91-room Bahia de Vigo Hotel, has been acquired by entrepreneur Rafael Ferreiro of Compostela Beach. Vigo is situated on the north-west coast of Spain, around 35 km north of the Portuguese border, and has a population of some 300,000 people. The transaction price was not disclosed, but the property was reportedly offered on the market for €16 million last year. The 8,500 sqm hotel, inaugurated in March 1971, is located right at the seafront of Vigo and includes 11 suites in its 91 rooms, and six meeting rooms with a capacity for 1,500 people.

www.hvs.com

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