Park Hotels & Resorts sells the Hilton Nuremberg 

Park Hotels & Resorts, established as a REIT in 2017 in a spin-off from Hilton Worldwide, has sold the 152-room Hilton Nuremberg in Germany for €15.6 million (€103,000 per room), representing a reported cap rate of 3.5% on the hotel’s 2018 NOI. The hotel is anticipated to undergo a capital expenditure programme of approximately €9 million. Over the last 18 months, Park Hotels & Resorts has sold 15 non-core assets for around $590 million.

Sheraton Warsaw sold to Patron Capital 

Benson Elliot and Walton Street Capital have sold the 350-room Sheraton Warsaw to London-based Patron Capital.  Part of the previous JV with Benson Elliot and Walton Street, Schroders Hotels will stay in as Patron’s JV partner in the deal.  The property, located within close proximity of the city’s embassy district, recently underwent a €6 million refurbishment to upgrade the rooms and public areas, as well as securing planning permission for an additional retail unit on the ground floor.

Circle Square Hotel in Manchester sold to Aviva 

UK-based Aviva Investors has entered into a forward-funding deal to acquire the mixed-use development at Circle Square, Manchester, for £45 million, from a joint venture between Bruntwood, Select Property and Greater Manchester Pension Fund. The project will comprise a 158-room hotel built on top of a 1,000-space car park, with agreed lease terms of 25 and 35 years, respectively, whose tenants are yet to be confirmed. Completion is scheduled for August 2020.

Fergus Hotels acquires remaining stake in Cala Blanca Suites in Mallorca 

Mallorca-based hotel chain Fergus Hotels has acquired the remaining 74% stake in the Cala Blanca Suites hotel in Mallorca. The 175-room hotel, located on Mallorca’s west coast in Santa Ponsa, was repositioned from a three-star to a four-star hotel in 2013 following Fergus taking over the hotel’s operation.

Learn to use Hotel Valuation Software from Steve Rushmore and the Glion Hotel School
Steve Rushmore – Founder of HVS – has launched an online training course: Hotel Market Analysis and Valuation Using Hotel Valuation Software. This software developed by Steve and HVS is designed to perform hotel market studies, forecasts of income and expense, and hotel valuations. Steve has partnered with the famous Glion Hotel School in Switzerland to produce the course which will quickly bring you up the learning curve to fully understand how the three software models work. Using a combination of videos, readings and interactive exercises with the actual software, you will be able to complete the course in your free time. The professors at Glion, along with the other students taking this course, will be available to answer your questions and help you finish the program. Upon completion, you can keep the software and you will receive a certificate from the Glion Hotel School which can be an important enhancement to your resume.
 
If you enroll now you will receive a 10% discount on this course by entering the Discount Code: HVSTEV10 during the enrolment process.
 
Click Here to enroll or for more information on the course – Hotel Market Analysis and Valuation – using Hotel Valuation Software.
 
Click Here to watch a video describing the course.
 
If you have any questions about the course, you can contact Steve Rushmore on [email protected]
 

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.