Europe Hotel Transactions Bulletin – Week Ending 31 May 2019

Home Hotel & Lodging Europe Hotel Transactions Bulletin – Week Ending 31 May 2019
Europe Hotel Transactions Bulletin – Week Ending 31 May 2019

Bankinter‘s hotel REIT, Atom Hoteles, has completed the acquisition of the Meliá Valencia for a reported €42.3 million (around €140,000 per room) from US-based real estate private equity firm Colony Capital. The four-star property is located next to Valencia’s convention centre and comprises 303 guest rooms and 21 meeting rooms. The hotel is planned to undergo a €2 million refurbishment and will continue to be managed by Meliá.

Meininger Hotel Salzburg City Centre sold to Sofidy

French investment fund Sofidy, a subsidiary of private equity firm Tikehau Capital, has acquired the Meininger Hotel Salzburg City Centre in Austria from Vienna-based real estate company CA Immo. In addition to the 100-room Meininger hotel, the transaction also includes retail and office space. This deal represents Sofidy’s first acquisition in Austria after the company expanded into Germany, the Netherlands and Belgium.

Herecon Group sells two Holiday Inn Express hotels in Germany

German developer Herecon Group has concluded the forward-sale of two Holiday Inn Express hotels in the German state of Bavaria. The 74-room hotel located in the north-west of Munich was sold to a local private investor while the 123-room Holiday Inn Express in Olching, one of Munich’s suburbs, was acquired by Munich-based TE Management GmbH. Construction is expected to start this summer at both sites with the completion date set for Q3 2020.

Centricus acquires the Capri Palace Hotel & Spa in Italy

London-based investment firm Centricus has acquired the iconic Capri Palace Hotel & Spa in Anacapri on the island of Capri, off the Italian coast. In addition to offering 68 rooms, the hotel also features the island’s only two Michelin-starred restaurants, the two-star L’Olivio and the one-star Il Riccio. Centricus is tapping into the high-end hotel and resorts sector with this acquisition and manages over $23 billion in assets.

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