Hotel news and transactions from around the European region: Travelodge adds the future Travelodge Abbey Wood in Bristol to its portfolio, M&G acquires the Motel One Rotterdam and more...

Arp-Hansen acquires hotel The Square in Copenhagen from Danica Ejendomme
The historic four-star 268-room hotel The Square located at Rådhuspladsen in Copenhagen, Denmark, has been acquired by Danish hotel group Arp-Hansen from Danica Ejendomme, the property investment arm of Danica Pension, a subsidiary of Danske Bank, for DKK 550 million / approximately €73.8 million (€275,000 per room). Arp-Hansen has been the tenant and operator of the hotel for many years, and now also becomes the owner, adding to its 13-hotel portfolio across Denmark, primarily in Copenhagen. Danica had owned hotel The Square since 1994, and reportedly decided to sell as they are more focused on office and retail investments.

M&G acquires the Motel One Rotterdam from Tenstone
M&G Real Estate, through its European Secured Property Income Fund, has acquired the 180-room Motel One Rotterdam for an undisclosed amount, from Netherlands-based Tenstone Development. The hotel is leased to Motel One and is the German operator’s third Motel One in the Netherlands. Tenstone and Boelens de Gruyter worked on the project in collaboration, which saw the coversion of a department store into a hotel. Founded in 2000 by Dieter Müller in Frankfurt-Offenbach, Motel One currently has 85 hotels (over 24,000 rooms) in countries including Germany, Switzerland, Poland, Belgium, the Netherlands, Spain, the UK and the United States.

BNP Paribas acquires OKKO HOTELS Bayonne Centre in France
French bank and investment manager BNP Paribas REIM has acquired the four-star, 92-room OKKO HOTELS Bayonne Centre, on behalf of its SCPI France Investipierre, in the heart of Bayonne, in southwest France’s Basque country region, for an undisclosed price. Founded in 2009 by Olivier Devys, OKKO Hotels is a young French four-star design and sustainability-focused hotel brand. The group has thirteen hotels and one restaurant across Paris, Nantes, Grenoble, Lyon, Cannes, Bayonne, Strasbourg, Toulon, Lille and Nice, with the 129-room OKKO HOTELS Paris Rosa Parks in the pipeline. SCPI France Investipierre currently includes 103 assets, totalling €537 million.

Alboran acquires the Holiday Inn Express Saint-Charles in Marseille
French hotel group Alboran has acquired the three-star 120-room Holiday Inn Express Saint-Charles in Marseille, France, for an undisclosed amount. The hotel, built in 2010, is situated opposite the TGV Marseille Saint-Charles train station and is within walking distance of the Old Port. The property includes a lobby bar, a terrace lounge and two meeting rooms. Created in 2016, Alboran now has 18 hotels (1,700 rooms) across ten French cities, with another 100-room property in the pipeline. In 2022, Alboran launched their own hotel brand, FirstName.

Saaj Hotels acquires the abandoned Hotel Martiánez in Tenerife, Spain
Indian family office Saaj Hotels Invest, backed by the Bhagvanji family, has acquired the long-abandoned four-star 138-room Hotel Martiánez in Tenerife, the largest of Spain’s Canary Islands, for an undisclosed amount. The historically-significant hotel, which has been closed since 2005, first opened in its beach-side location in 1886 as the first hotel in the city of Santa Cruz de Tenerife. The arrival of the 2008 economic crisis saw its proposed conversion to an aparthotel abandoned. Saaj plans to remodel the asset into a four-star sustainable hotel, which they plan to reopen in 2024 as a Silken Hotels-branded establishment, which will be the third property to be managed by the Saaj-Silken collaboration, with the other two being in Palmas de Gran Canaria and Puerto de la Cruz on Tenerife (set to open in this spring).

Travelodge adds the future Travelodge Abbey Wood in Bristol to its portfolio
Travelodge Hotels has acquired the future 85-room Travelodge Abbey Wood development in north Bristol, UK. The project is funded by, and will be delivered by, Invesco Real Estate. Construction is underway on the development and the hotel is set to open in the Spring of 2024. Well-situated adjacent to the Abbey Wood Shopping Park, this will be the seventh Travelodge in Bristol, with the first having opened in 1994. The hotel is set to open as one of Travelodge’s new “budget luxe premium” properties and will include an all-day dining bar cafe. A further 60 properties are expected to take on this new budget-luxe design concept this year, with remodelled interiors and elevated F&B spaces. Travelodge has over 600 hotels across the British Isles and Spain.

Senator Hotels acquires The Beach Star Ibiza
Spanish hotel group Senator Hotels & Resorts has acquired the two-star 74-room The Beach Star Ibiza on the Bay of Sant Antoni on the west coast of the Spanish island, for an undisclosed price. The adults-only hotel offers a variety of studio and apartment room types with pool or sea views, located opposite the beachfront of Cala de Bou. The new owners will set out to renovate and remodel the property to the brand standards of Senator Hotels & Resorts. No official reopening date has been announced, but the hotel is aiming to begin welcoming guests in the 2023 season. Senator Hotels & Resorts has over 30 properties on the Spanish mainland and the Balearic Islands in their portfolio.

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