M&G sells portfolio of six UK Travelodges to Investra 

M&G Investments has sold a portfolio of six Travelodge hotels in the UK from its M&G Property Portfolio fund, which ceased trading last week, to London-based Investra Capital, for a total £22.8 million (£87,700 per room, on average). The portfolio includes Travelodge hotels in Eastbourne, Eastergate, Birmingham, Rowlands Castle, London and Milton Keynes. The transaction represents a net initial yield of 5.6%. The hotels are all managed under a lease agreement with Travelodge until 2035.

Pestana Delfim Beach & Golf Hotel in Portugal sold to BPI pension fund 

Located in the town of Alvor within the Algarve, near Portimão, Portugal, the Pestana Delfim Beach & Golf Hotel has been sold to Portuguese pension fund BPI for a reported price of €35 million (€112,200 per room). The 312-room was owned by a real estate fund prior to the sale and will continue to be operated by the Pestana Group following the sale.

PFA buys Zleep hotel development in Lyngby, Denmark 

Denmark's largest pension fund, PFA, is acquiring the Zleep Hotels development project in Lyngby, Denmark, for some €26.8 million (€239,300 per room) in an off-market deal. The new hotel comprises a total area of 5,460 sqm and includes 112 rooms, of which 34 are long-stay studios including kitchenettes, and a 1,337 sqm fitness area. The hotel space will be leased to Zleep Hotels while the fitness area will have Fitness World as its tenant. The hotel is scheduled to open in July 2020.

Atom Hoteles acquires the Hotel Tryp Coruña in Spain 

The four-star Hotel Tryp Coruña located in Coruña, in the north-western most part of Spain, has been acquired by Atom Hoteles Socimi for €12.9 million (€71,300 per room). The property will undergo refurbishment and will be managed under a five-year lease agreement with Grupo Hotusa, which will rename the property as the Exe Coruña.

Langham acquires development site in Venice 

Hong Kong-based Langham Hospitality Group has acquired a site for a luxury hotel on Murano island in Venice, Italy, from a joint venture between Palladium Group and Serenissima Partecipazioni. The new 140-room hotel is being developed on the site of a former glass production factory and is set to open in 2022.
 

Kennedy Wilson sells the Fairmont St. Andrews in Scotland to Great Century 

One of Scotland’s most prestigious hotels, the Fairmont St. Andrews, has been sold to Hong Kong investor Great Century, the first investment of an investment vehicle formed in a joint venture between CYM Chan and Hong Kong conglomerate Lai Sun Group. The seller was American real estate investor Kennedy Wilson, who reported the price in US currency as $178 million. The luxury hotel includes 211 guest rooms and suites, championship golf courses, spa facilities, 3,000 sqm of meeting and events space as well as five food and beverage outlets.

Europa Capital sells the Radisson Collection in Warsaw to Wenaasgruppen 

Norwegian real estate investor Wenaasgruppen has acquired the Radisson Collection hotel in Warsaw from Europa Capital. The transaction follows the extensive refurbishment of the hotel which was upgraded from a Radisson Blu to the five-star Radisson Collection brand, now comprising 311 guest rooms and suites. The hotel will continue to be operated by Radisson under a management agreement.
 

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