Host Hotels & Resorts carried out three hotel transactions this week: it acquired a hotel in Miami and sold one in Tampa, in Florida in the USA, and purchased a 90% stake in a property in Berlin, Germany. Host’s joint venture in Europe acquired a 90% interest in the owning company of the Grand Hotel Esplanade for €81 million from Event Hotel Group. An affiliate of Event will continue to manage the 394-room hotel and another affiliate still retains the remaining 10% interest in the property. Plans are afoot to reflag the hotel under a franchise agreement with an international brand.
HVS EMEA HOSPITALITY NEWSLETTER.