Europe Hotel Transactions Bulletin - Week Ending 13 March 2020 (March 13, 2020)

Principal Real Estate purchases the Cour des Loges Hotel in Lyon, France 

US-based institutional investor Principal Real Estate has acquired the 60-room Cour des Loges hotel in Lyon, France for €24.5 million (€408,000 per key) on behalf of its Principal Hotel Real Estate Fund II. Principal plans to renovate the hotel together with its new operator, Radisson Hotels, who will manage the hotel under their Radisson Collection brand, subject to a long-term lease agreement.   

Storebrand Eiendom acquires Scandic Lillestrom, Norway, from Obos Eiendom 

Norwegian real estate company Storebrand Eiendom has acquired the Scandic Lillestrom in Norway, a 4-star hotel in one of Oslo’s fastest growing suburbs, for a total price of approximately €147 million including adjacent office buildings within the same development. Sold by local developer Obos Eiendom AS, the mixed-use complex including the 220-room hotel is located in the centre of Lillestrom adjacent to the city’s train station, 10 minutes from downtown Oslo and 12 minutes from Oslo Airport. Post-acquisition, the property will continue to be operated by Scandic Hotels, under a long-term lease agreement.

Eternam buy the Hotel Aigle Noir in Fontainebleau, France 

French asset manager Eternam, together with its local operating partner Atypio Hotels & Resorts, is acquiring the Hotel Aigle Noir in Fontainebleau, France. Located 55 km south of Paris adjacent to the Palace of Fontainebleau, the 53-room hotel that was originally constructed in the 16th century joins Eternam’s existing French hotel portfolio focused on regional hotels with a strong historic identity.

Groupe Madar acquires the Port-Palace Hotel in Monte Carlo from KOP Limited 

French real estate investor Groupe Madar is acquiring the Port-Palace Hotel, a 4-star hotel located in Monte Carlo’s iconic marina, from Singapore-based KOP Limited. The hotel comprises 50 rooms and also includes the restaurant La Marée, a spa and a rooftop terrace overlooking the marina. The new owners plan to extensively renovate the hotel, adding balconies to each guestroom.

Sleeping Fox buy the Hotell Östersund in central Swedenen 

Local owner operator Sleeping Fox Hotel Group has acquired the 126-room Hotell Östersund in Östersund, Sweden from local entrepreneurs Johnny Jonsson and Stefan Karlsson. The property, which had been leased by Scandic Hotels until 2017, includes the 200-seat O’Learys restaurant and will undergo a full renovation under the new ownership. The property is also planned to be expanded with the addition of a bowling alley and a “Sky Spa” on the rooftop of the hotel.

GC Capital acquires Best Western Park Hall in Lancashire UK from Lavender Hotels 

Manchester-based real estate investment firm GC Capital has acquired the 140-room Best Western Park Hall hotel in Lancashire, located 20 km south of Preston and 50 km north of Manchester. The sellers of the hotel are local owner operators Lavender Hotels, who have owned the property since 2009 and have been operating it under a franchise agreement with Best Western. Located adjacent to the former Camelot theme park, the property is spread out across 100 acres of land in multiple individual buildings.


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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.

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