Paris Inn buys Monumental Palace Hotel in Porto, Portugal for €40 million 

Portugese developer Mario Fereira has announced that he has sold the 76-room Monumental Palace Hotel in Porto, Portugal, to the France-based Paris Inn Group for €40 million (€526,000 per room). The five-star hotel currently under development on Porto’s Avenida dos Aliados, will be renamed Maison Albar Hotel Porto Monumental and is expected to open next September.

AXA Investment Managers acquires Meininger Rome for €25.8 million  

French asset manager AXA Investment Managers – Real Assets has acquired the 319-bed Meininger Hostel in Rome for €25.8 million (€81,000 per bed) from local investor Dear Spa. Located near Rome’s Termini train station, the 118-room property is operated by international hostel operator Meininger Hotels under a long-term lease agreement. 

Orbis Group acquires Mercure Bucharest Unirii, Romania, for €11.35 million 

Orbis Group, the Polish owner operator and Accorhotels master franchisee in the CEE, has acquired the 114-room Mercure Bucharest Unirii hotel for €11.35 million (€100,000 per room) from the Dogariu family. The hotel, which has been developed by the sellers in 2014, was managed by Orbis since 2017 and will continue under the same management post-acquisition.

 

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