Europe Hotel Transactions Bulletin - Week Ending 09 August 2019 (August 10, 2019)

Bidco to acquire EasyHotel for £139 million 

Citrus UK Bidco and EasyHotel have reached an agreement on a cash offer from Bidco at a price of about £139 million (£0.95 per share) for the acquisition of the hotel group. EasyHotel owns 12 hotels totalling 1,340 rooms with a further 26 franchised properties totalling 2,293 rooms. Bidco is a newly incorporated company owned by fund manager ICAMAP Investment and Cadim fund, part of Canadian real estate company Ivanhoé Cambridge. 

Henderson Park acquires the Aloft Madrid Gran Vía for €57 million from SafeGuard 

SafeGuard Real Estate Management has sold the 139-room Aloft Madrid Gran Via to London-based private equity fund Henderson Park for €57 million (€410,000 per room). The property, located close to Gran Vía, is managed under a long-term management agreement with Marriott International

Cedar Capital acquires the Lloyd Hotel in Amsterdam from Rocco Veenboer for €44 million 

Dutch entrepreneur Rocco Veenboer has sold the 117-room Lloyd Hotel in Amsterdam to hotel investor Cedar Capital Partners for a reported €44 million (€376,000 per room). The property is located in close proximity to the Central Station.

11 Hospitality acquires the Holiday Inn Birmingham Airport – NEC from Crest Hotels 

Birmingham-based Crest Hotel has sold the 241-room Holiday Inn Birmingham Airport – NEC to 11 Hospitality Limited for an undisclosed amount off a guide price of £33 million (£137,000 per room). The property is located 4km away from the airport.

Perseus sells Les Hôtels d'En Haut to KSL 

KSL Capital Partners has acquired French hotel group Les Hôtels d'En Haut from Perseus Group for an undisclosed amount. Les Hôtels d'En Haut owns and operates five hotels totalling 246 rooms, four of them are located in the French Alps and one on the Côte d'Azur. The portfolio comprises the 83-room Le Val Thorens and the 58-room Le Fitz Roy in Val Thorens, the 31-room Hôtel des Trois Vallées in Courchevel, the 27-room L'Alpaga in Megève, and the 47-room Hôtel Les Roches Rouges in Saint-Raphaël.

Linkcity forward-sells the Hilton Garden Inn in Le Havre to Ojirel, la Caisse des Dépôts and Naos Invest 

The Caisse des Dépôts, together with Ojirel and Naos Invest, have acquired the 106-room Hilton Garden Inn in Le Havre from developer Linkcity Grand Ouest, a subsidiary of Bouygues Immobilier. The hotel, which transacted in a forward-funding deal, is part of the White Pearl mixed-used development, which also includes 106 apartments, and is expected to complete by Q2 2021. Naos Hotel will operate the newly acquired property. 


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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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