German real estate fund Deka Immobilien has acquired a 749-room hotel portfolio in Venice’s Mestre region, on the Italian mainland opposite Venice, from Austrian developer MTK, for a reported price of approximately €200 million (€267,000 per room). The hotels opened in mid-2019 and include the 244-room Leonardo Royal Hotel Venice Mestre, the 175-room Staycity Venice Mestre, the 208-room 7 Days Premium Hotel Venice Mestre and the 122-room Wombat’s City Hostel Venice. Located adjacent to the Mestre railway station, all hotels were developed by the seller and are operated under 20-year lease contracts.
Hungarian real estate investment firm Indotek Group, owned by local high-net-worth entrepreneur Daniel Jellinek, has been reported to be acquiring the Sofitel Budapest from US private equity group Starwood Capital for a reported price of €100 million (€277,000 per room). The 360-room hotel, operated by Accor under a long-term management agreement, is planned to undergo a substantial renovation, which the new owners will carry out by 2022. The sale comes two years after Starwood acquired the property from Accor through a sale-and-manage-back transaction for €75 million.
London-based institutional investor DTZ Investors has acquired the freehold interest in the 144-room COMO Metropolitan Hotel from Malaysian casino owner Genting for over £70 million (£486,000 per room). The Park Lane property, which is leased to Singaporean operator COMO Hotels and Resorts, opened in 1997 as one of London’s first boutique hotels and also includes the first Nobu restaurant outside of the United States. Besides the hotel and the Nobu restaurant, the current transaction also includes the Colony Club Casino as well as nine residential apartments.
Madrid-based publicly traded real estate investment trust Atom Hoteles Socimi has acquired the 91-room Hotel Senator Cadiz in Spain, for €15 million (€165,000 per room) from Senator Hotels & Resorts founder José María Rossell Recasens. The hotel, which is located in the historic centre of Cadiz, will continue to be managed by Senator Hotels under a long-term lease agreement.
A joint venture between Hines, a North American real estate investor, and Commerz Real, a German real estate fund, has entered into an agreement to acquire a 148,000 sqm mixed-use scheme in Munich known as the HVB Campus, including the 484-room Hilton Munich Park. The seller, Munich-based Hypovereinsbank, will remain a tenant in one of the offices within the campus, which besides the hotel also includes seven office buildings, a 10,800 sqm IT centre, a 2,300 sqm sports complex and parking spaces for 1,500 vehicles.
HVS is a leader in global hospitality financial consulting. Hotel owners, developers, investors, lenders, management companies, and public agencies around the world rely on HVS to make informed business decisions. HVS’s commitment to excellence and unrivalled hospitality intelligence is delivered by more than 300 people in over 50 offices throughout the world who specialize in a wide range of hospitality assets including hotels, restaurants, casinos, shared ownership lodging, mixed-use developments, spas, and golf courses, as well as conventions, sports, and entertainment facilities. For more information about HVS visit https://hvs.com.