Blackstone acquires five hotels in Greece from Louis Group  

New York-based private equity firm Blackstone has acquired five hotels in Greece from Cyprus’s Louis Group for €178.6 million (€122,000 per room). The portfolio, totalling 1,466 rooms, comprises two hotels in Corfu, the 370-room Corcyra Beach and the 247-room Grand Hotel, two in Zakynthos, the 268-room Zante Beach and the 161-room Plagos Beach, and the 420-room Creta Princess on Crete Island. Louis Group’s hotel arm, Louis Hotels, will continue to operate the hotels, which will be included in Blackstone’s Spanish hotel investment platform HIP. 

Midwest and Brehon Capital sell the Marker Hotel in Dublin to Deka 

Midwest Holding AG, together with a group of investors led by Brehon Capital Partners, have sold the 187-room Marker Hotel in Dublin for €130 million (€695,000 per room) to German institutional investor Deka Immobilien. The hotel underwent extensive refurbishment after Midwest and Brehon’s acquisition in 2011. The asset represents Deka’s third acquisition in the Irish capital after the Burlington Hotel, and the Gibson Hotel, acquired in 2016 and in 2017, respectively.

Echo Fund acquires two hotels in Budapest for €22 million 

Switzerland-based hotel investor Echo Fund has acquired the 80-room Palazzo Zichy and the 65-room Hotel Parlament in Budapest, Hungary for a reported €22 million (€152,000 per room, on average). The hotels, located in the inner city of Budapest, are both let under a triple net lease, with a weighted average remaining term of seven years. The transaction is reported to reflect an acquisition yield of 6.0%.

Atream acquires Club MMV Les Mélèzes in the French Alps  

French portfolio manager Atream, on behalf of the SCPI Pierre Altitude fund, has acquired the 185-room Club MMV Les Mélèzes in Arc 2000 in the French Alps for €13 million (€70,000 per room). The hotel is located in the centre of the town within close proximity of ski slopes and shops.

Whitbread acquires three Acomhotels in Germany 

Premier Inn-owner Whitbread has acquired the leasehold interest in a three-hotel portfolio in Germany from a private investor. All hotels included in the deal are currently being operated under the Acomhotel brand. The 106-room Acomhotel Munich and the 201-room Acomhotel Nuremberg offer the right to purchase the freehold in 13 and seven years, respectively. The 175-room Acomhotel Stuttgart is currently under construction and expected to open in 2020.

Fagra Group acquires Tryp Zaragoza hotel in Spain  

An international investment fund has sold the 162-room Tryp Zaragoza in Zaragoza, the capital of northeastern Spain's Aragon region, to Spanish private investor the Fagra Group. The property, which has been operated by Meliá under the Tryp by Wyndham brand since its opening in 2007, will be independently run as Hotel ZENTRAL Ave following the acquisition. The transaction also includes 52 parking spaces as well as over 2,000 sqm of retail space leased to Spanish supermarket chain Mercadona. 

AEW Ciloger acquires the Club Med Plagne 2100, France 

The 340-room Club Med Plagne 2100, located in La Plagne, the world’s most visited ski resort, has been acquired by French portfolio manager AEW Ciloger on behalf of the OPCI Immo Diversification fund. The hotel is operated under a long-term lease agreement with Club Med.

Niam acquires Crowne Plaza Copenhagen Towers 

Nordic real estate company Niam has acquired the Copenhagen Towers, an office and hotel complex in Ørestad, a developing city area of Copenhagen situated between the Danish Capital’s city centre and airport. The acquisition includes the 366-room Crowne Plaza Copenhagen Towers and three office buildings.  The hotel has been operated under the Crowne Plaza brand since its opening in 2009.

BaseCamp acquires Holiday Inn Express, Aachen from Merkur 

London-based BaseCamp Group has acquired the BlueGate development project in Aachen, Germany, situated close to the Belgian border.  The seller was German developer Merkur Development, based near Frankfurt. The mixed-use development consists of a 160-room Holiday Inn Express, 300 student accommodation units, 5,600 sqm of retail and 6,000 sqm of office space. The hotel is expected to be completed by Q3 2020 and will be operated by German operator Success Hotel Management.

Dorint Parkhotel Herrenkrug in Magdeburg, Germany, sold to Kapitalanlagegesellschaft Wien 

After holding the majority stake of the Dorint Parkhotel Herrenkrug in Magdeburg, some 150 km west of Berlin, for less than two years, Cologne-based investor Honestis AG has sold the 149-room property to Austrian investment company LLB Immo Kapitalanlagegesellschaft Wien. Honestis acquired 83% from a group of private investors at the end of 2017 and has been managing the hotel under its subsidiary, Dorint GmbH, after signing a 20-year lease contract. The hotel is planned to undergo a €2 million refurbishment in the next two years with an emphasis on guest rooms and air-conditioning.

Disclaimer: Information provided above has been gathered from various market sources. HVS has not independently verified the accuracy of the information provided. Interested parties should not rely on the information as statement of facts and are advised to make their own independent checks to verify the information provided. For further information, please feel free to contact HVS London.