HVS Europe Resort Transactions Bulletin Week Ending 21 July 2023

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Breaking News Hilton Belfast - Exterior
  Resort investor and manager Pandox AB has obtained the four-megastar, 202-room Hilton Belfast in Northern Eire, UK, from an affiliate of Starwood Capital Neighborhood for a reported 40 million (198,000 per room), at the side of some CapEx investments.
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Pandox AB acquires the Hilton Belfast from Starwood Capital

Resort investor and manager Pandox AB has obtained the four-megastar, 202-room Hilton Belfast in Northern Eire, UK, from an affiliate of Starwood Capital Neighborhood for a reported £40 million (£198,000 per room), at the side of some CapEx investments. The resort is found in central Belfast, about 200 metres from the central region. The asset is operated under a administration settlement with Axiom Hospitality and is self-discipline to a franchise from Hilton. The property underwent vital renovation throughout the pandemic, at the side of all customer rooms and public areas. Pandox seek files from the resort to assassinate a stabilised yield of around 10%. Starwood Capital obtained the Hilton Belfast in 2018 from Park Hotels and Motels, as phase of a £135 million portfolio of seven Hilton resorts in the UK.

AEW acquires the Marriott Paris Charles de Gaulle from Commerz Proper

World asset manager AEW has obtained the four-megastar, 300-room Marriott Paris Charles de Gaulle, positioned at Roissy in the vicinity of the Paris Charles de Gaulle Airport in the French capital metropolis, from German fund manager Commerz Proper, for an undisclosed quantity. The resort, which contains a restaurant and bar moreover 16 convention facilities covering 2,500 sqm, is leased to Marriott on a fixed-term settlement with 13 years remaining. An ongoing renovation programme, keep of abode to be carried out in the with reference to future, has viewed approximately 60% of customer rooms and conferencing region refurbished up to now. Commerz Proper obtained the property when it opened in 2002, in the origin as a Courtyard, in a sale-and-lease relieve settlement for its Hausinvest fund. It develop into as soon as rebranded and upgraded to a four-megastar Marriott in 2007.

Louis Fitzgerald Neighborhood acquires the Imperial Resort in Cork, Eire, from The Flynn Neighborhood

Louis Fitzgerald Neighborhood, one of the most largest family-owned and operated hospitality groups in Eire, has obtained the four-megastar, 131-room Imperial Resort in Cork, the Republic of Eire’s 2d largest metropolis, for €25 million (€191,000 per room), from Irish owned family alternate The Flynn Neighborhood. On the total ceaselessly known as the “Grande Dame”, the 200-year ragged iconic resort involves a pair of F&B stores, convention facilities and a spa, and has gone via broad renovations through the years, most now not too long in the past in 2018. Louis Fitzgerald Neighborhood’s portfolio involves 19 hospitality properties, at the side of pubs, resorts and restaurants. The Flynn Neighborhood had ownership of the resort for 25 years.

Art-Make investments acquires the Nestor Resort Neckarsulm in Germany

Art-Make investments has obtained the 84-room Nestor Resort Neckarsulm in central Neckarsulm in southern Germany from a non-public vendor, for an undisclosed tag. The midscale resort is within walking distance to the major region and the AUDI Discussion board Neckarsulm Automobile Manufacturing unit, and develop into as soon as obtained for the purchaser’s core budget resort fund. A gigantic repositioning and renovation programme is deliberate for the resort, at the side of adding an extra 14 rooms, as phase of a protracted-term lease settlement with The Chocolate on the Pillow Neighborhood under its Nestor designate. Art-Make investments is an investor in The Chocolate on the Pillow Neighborhood, a resort running firm inviting in Germany with a multi-designate portfolio.

La Française RE acquires the longer term Ruby Resort Marseilles in France from BNP Paribas RE

Funding manager La Française Proper Estate Managers has obtained a blended-utilize web express in central Marseilles, France, at the side of the longer term 237-room Ruby Resort Marseilles, 945 sqm of co-working region and an already present 251 sqm pharmacy, from BNP Paribas Proper Estate Property Building. The resort is found staunch a 10-minute lunge from the Extinct Port of Marseille. Deliberate by BNP Paribas, the resort will provide products and services at the side of a rooftop terrace and lounge bar, keep of abode to be delivered by the tip of 2025, after which the resort and co-working parts would maybe be operated by Ruby Hotels Neighborhood. Ruby currently has 16 properties in its portfolio and 20 more in the pipeline, with this property to be the group’s first property in France.

EXTENDAM and Banque des Territoires do the longer term TRIBE resort in Montpellier, France

EXTENDAM and Banque des Territoires, in partnership with Redman Hospitality, have obtained the longer term four-megastar, 120-room daily life TRIBE (an Ennismore Neighborhood / Accor designate) resort improvement positioned in Montpellier, France, from French builders Icade and Promobi, for an undisclosed sum. The resort is decided to originate in the predominant half of 2025 and can very effectively be managed by Redman Hospitality. The asset, in the coronary heart of the Cambacérès district, would maybe be phase of a redevelopment scheme for a alternate district, at the side of innovation centres, locations of work, a elevated education campus and retail stores. Redman Hospitality’s portfolio currently involves three resorts in Bordeaux under administration and a dozen projects in the pipeline during France. The group is inviting in the two to four-megastar urban resort category.

EXTENDAM and Annie Famose do the Radisson Blu Resort, Biarritz in France from JMA

EXTENDAM and family-owned Annie Famose Neighborhood have obtained the four-megastar, 150-room Radisson Blu Resort in the metropolis-centre of Biarritz, France, for an undisclosed quantity, from JMA Hôtellerie. The resort involves two restaurants, rooftop swimming pool, 9 meeting rooms and spa facilities, and will have the relieve of a vital CapEx programme over the following couple of years in diverse phases to reposition the resort. This transaction marks the predominant collaboration between the two partners. Annie Famose Neighborhood operates in ski tools condo and has 40 hospitality institutions across France in its portfolio. JMA Hôtellerie obtained the property in 2014.

Ataxia REIM acquires the L’Univers in Reims, France, from Quadral Promotion

French investment manager Ataxia REIM has obtained, on behalf of its OPCI Altixia Valeur fund, the four-megastar, 42-room L’Univers resort in the metropolis of Reims, in France’s champagne district, from Quadral Promotion. The deal develop into as soon as phase of a pre-completion sale that will see the sellers renovate and lengthen the resort, converting it correct into a 91-room property to be operated by Quadral’s HBS Retaining under Ennismore’s / Accor’s TRIBE designate, on a 12-year fixed lease settlement. The renovation programme will see the resort’s room ability invent bigger to 91 rooms, a restaurant, meeting facilities and a rooftop region, expected for completion in the 2d quarter of 2025.

Elevate acquires the Coroana-Postavaru Resort in Brașov, Romania, from Aro Palace

Elevate Properties, a firm owned by Brașov businessman Tudor Iliescu, has obtained the three-megastar, 76-room Coroana-Postavaru Resort in Brașov, Romania, from Aro Palace, for a reported €9.4 million (€126,000 per room). Aro Palace is owned by one of the most largest investment funds in Romania, Transilvania Investments. The transaction enables the seller to re-heart of attention its sources on its core sources, at the side of the reopening of the newly rebuilt 181-room Capitol Resort, also in Brașov, under Accor’s Mercure designate.

Serviced condominium operator acquires the Jubilee Resort in London

An undisclosed serviced condominium running group has obtained the two-megastar, 26-room Jubilee Resort in London’s Eccleston Square, in Pimlico with reference to London Victoria region, on a leasehold-basis, for an undisclosed tag. The six-ground townhouse also involves a breakfast room. The purchaser, who owns diverse serviced residences across London moreover in Turkey, intends to invest in a vital CapEx programme. The sellers had owned the resort for more than 40 years.

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