A summary of European hotel transactions provided by HVS
Sonar Real Estate acquires the niu Kettle Hotel in Stuttgart, Germany
German group Sonar Real Estate, as asset manager of Stuttgarter Immobilien-Spezialfonds (SIS), has acquired a 12,000 sqm mixed-use development in Stuttgart-Vaihingen, Germany, including the three-star, 198-room the niu Kettle hotel by NOVUM Hospitality in a forward deal from developers Weisenburger Projekt. The site includes fully-let offices that make up around one-third of the total site area. NOVUM Hospitality operates over 150 three and four-star hotels (over 20,000 rooms) across several of its proprietary brands in 60 European locations, and is also a franchisee of global hospitality groups IHG, Accor and Hilton. This marks the SIS fund's first hotel investment.
IHCP acquires the Hilton Garden Inn Leiden, The Netherlands, from RECO Development
Dutch hotel group International Hotel Capital Partners (IHCP) has acquired the four-star, 173-room Hilton Garden Inn Leiden located in the Leiden Bio Science Park, from developers RECO Development. Situated in Leiden, The Netherlands, the science park is located between The Hague and Amsterdam. Opened in 2013, the hotel includes six meeting rooms, a bar and a restaurant. The hotel will continue to be operated by Hilton under its Hilton Garden Inn brand. IHCP's portfolio already includes Mercure, Renaissance, Moxy and Residence Inn properties in Amersfoort, Amsterdam Schiphol Airport and The Hague.
Iroko ZEN acquires Utrecht Holiday Inn Express in The Netherlands from Marathon
French asset manager Iroko ZEN has acquired a mixed-use hotel and office development from New York-based global asset manager Marathon Asset Management, which includes the three-star, 118-room Holiday Inn Express Utrecht - Papendorp as one of its tenants. The property, located in the Papendorp Business Park in Utrecht, The Netherlands, was sold via Marathon's Bryant Park Maxima vehicle. Marathon acquired the site in 2016 and undertook a major upgrade of the mixed-use project to be more sustainable, as well as secured long-term lease agreements with a mix of tenants.
Chestnut Group acquires The Old Bridge Hotel in the UK from the Hoskins Family
Suffolk pub group Chestnut Group has acquired the three-star, 24-room The Old Bridge Hotel from the Hoskins Family, who have owned the hotel for over five decades. The hotel is located in Huntingdon, about 30 kms northwest of Cambridge, in the UK. The 18th century townhouse hotel, which includes the retail wine shop, Old Bridges Wines, was sold off an £8 million guide price. Chestnut Group's portfolio includes 16 properties, totalling 224 rooms, across the UK.
S Hotels & Resorts acquires the Mercure Glasgow City Hotel from Alternative Income
London based investor Alternative Income REIT has sold the three-star, 91-room Mercure Glasgow City Hotel to its current tenant, Thai group S Hotels & Resorts, for £7.5 million (£82,000 per room), reflecting a reported net exit yield of 8.9%. Located in the Scottish city of Glasgow, half a mile away from the central railway station, the hotel has a bar and brasserie as well as meeting facilities. Thai hotel group S Hotels & Resorts has a portfolio of 38 hotels in the UK, Mauritius, Maldives, Fiji and Thailand.
Leonardo Hotels acquires the Pentahotel Berlin Köpenick
Leonardo Hotels, part of Israel's Fattal Hotel Group, has acquired the four-star, 190-room Pentahotel Berlin Köpenick for an undisclosed sum. Located on the Dahme river in Berlin, Germany, the conference hotel is approximately 20 kms south-east of the centre of Berlin. The hotel includes a fitness room with a sauna and outdoor terrace and conferencing facilities for up to 300 delegates. The asset is set to undergo extensive renovations to join the group's NYX Hotels lifestyle brand as the NYX Hotel Berlin by early 2024. Leonardo Hotels' portfolio of Berlin hotels expands to six hotels with this acquisition.
369° Hôtels acquires the Courtyard by Marriott Paris Roissy from Angelo Gordon and EQ 369°
Hôtels & Maisons, the hotel subsidiary of French property company Human Performance Capital (HPC), has acquired the four-star, 240-room Courtyard by Marriott Paris Roissy located next to Charles de Gaulle Airport in Paris, France, from subsidiaries of Angelo Gordon and EQ Group. The hotel's franchise agreement with Marriott International is set to come to an end and the hotel will be rebranded, joining its future sister hotel, HPC's four-star, 119-room Château de Montvillargenne hotel in Chantilly, some 30 minutes drive north of Paris CDG. The founder of the Appart'City group, Patrice Cavalier, is also the founder of HPC. Angelo Gordon and EQ Group acquired the Roissy asset in 2019 as part of a portfolio of five Paris hotels.
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