YTL to acquire The Hague Marriott

Malaysia’s YTL Corp is acquiring The Hague Marriott in the Netherlands, formerly the Bel Air Hotel, for €60.3 million (€197,000 per room). The hotel was acquired by Westmont Hospitality in 2015, who then undertook a major renovation and rebranded it under a Marriott franchise in 2016. It remains the largest hotel in the diplomatic city with 306 rooms and almost 3,000 sqm of meeting space.

Bankinter’s Atom Hoteles acquires six Spanish hotels from Atitlan

Valencian investment firm Atitlan, run by ex-Goldman Sachs employees Roberto Centeno and Aritza Rodero, has disposed of a portfolio of six hotels across key Spanish cities such as Madrid, Sevilla, Palma de Mallorca, and including the Eurostars Rey Don Jaime in Valencia. The assets were acquired by the new Atom Hoteles SOCIMI, a REIT set up in January by Bankinter, Spain’s 7th largest bank.

Starwood Capital seeks to acquire 26% of Austrian investor CA Immo

Starwood Capital’s Opportunity Fund XI has placed a public tender offer to acquire up to 26% of Austrian real estate investor and developer CA Immo, as well as 5% of its rival Immofinanz. The companies had been considering a merger until talks were abandoned last month, and Immofinanz still owns 26% of CA Immo’s shares. CA Immo is the owner of multiple Steigenberger and Meininger branded properties, in key cities such as Berlin, Frankfurt and Vienna, however its major focus is on general commercial assets. Starwood Capital added that they did not intend to completely take over either company.

Ikos acquires the Princess Resort Andalucía in Estepona, Spain

Oaktree Capital Management’s Greek joint venture has acquired the Costa del Sol Princess Resort, located close to Estepona, in Andalucía. The buyers plan to invest a total of €150 million into the acquisition and redevelopment of the property, re-opening it in May 2020 with 400 rooms and suites, with the intention to acquire further assets in the region. Set up in 2016 as a venture between Greek entrepreneurs Stavros and Andreas Andreadis and Oaktree, the venture is backed by Goldman Sachs and Hermes GPE, and already includes four assets in Greece under the Ikos flag.  The acquisition was financed by Starwood Capital.

Z Hotels set to acquire prime London building for conversion

Having secured £18 million in funding from Metrobank, Z Hotels will acquire an office building close to Trafalgar Square in central London for a further hotel in the city. The brand owns 9 of its 11 properties, with 8 sites in London and further hotels in Liverpool and Glasgow. Branding themselves as affordable compact luxury hotels, rooms sizes start at 9 sqm.

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