HVS Europe Hotel Transactions Bulletin – Week Ending 06 December 2024

Partners Group and Portobello Capital acquire majority stake in Bluesea Hotels

Swiss-based private equity firm Partners Group has acquired a majority stake in the Spanish hospitality platform Bluesea Hotels. Bluesea focuses on the three-to four star hotel segment and its real estate portfolio consists of 25 hotels comprising 5,100 rooms, predominantly located in popular tourist destinations across Spain, along with one property in Morocco. Partners Group intends to refurbish existing properties, enhance ancillary service offerings and acquire additional hotels. Last month Partners Group, together with Trinity Investments and Oaktree, acquired the five-star, 266-room The Standard London for a reported price of £185 million (£695,000 per room), as reported in this newsletter.

Vivion acquires major share in Femina Palace, Berlin

Luxembourg-based real estate company Vivion Investments, through its subsidiary Golden Capital Partners, has acquired an 89.9% stake in the Femina Palace in Berlin, Germany, formerly the four-star, 285-room Ellington Hotel, from Austrian real estate group Signa Holding as part of its insolvency process,​ for €65 million (€228,100 per room). The property is situated adjacent to the famous luxury shopping mall KaDeWe, another now former Signa property, in Berlin’s Charlottenburg district, in the western part of the city. The hotel closed in September 2021 when its lease ended and Signa acquired the property with plans to convert it into a mixed-use development​. Instead, Vivion aims to convert the property into a modern five-star hotel, to be operated under a prestigious international brand.

Sinfam Investments acquires Sofitel Grand Sopot, Poland, from AccorInvest

Polish hotel investor Sinfam Investments has acquired the five-star, 126-room Sofitel Grand Sopot, Poland, from French hotel investor AccorInvest, for a reported PLN 125 million (PLN 992,100 per room) which is equivalent to approximately €29.2 million (€231,800 per room). The historic beachfront hotel opened in 1927, situated on the Baltic Sea by the pier in Sopot in the north of Poland. It features a restaurant, bar, spa and conference facilities. Accor’s Sofitel brand has been operating the property since 2008 and will continue its management. Sinfam also owns the four-star Hotel Warszawianka in Warsaw.

Alexandrion Group acquires Orizont Hotel in Romania, from Feper

Romanian beverage company Alexandrion Group, through its investment arm N.S.&Sons Global Investments, has acquired the four-star, 139-room Orizont Hotel in Predeal, Romania, from Romanian metal manufacturing company Feper S.A., which is 85.8% owned by Transilvania Investments, for RON 52 million (RON 374,100 per room), which is equivalent to approximately €10.5 million (€75,200 per room). The hotel is situated in the mountain resort town of Predeal, the highest town in Romania, approximately 2.5 hours by car from Bucharest. The property features two restaurants, a bar, a full service spa and a conference centre. In 2022, Romanian hotel operator The Makers took over the management of the property and carried out renovations.

Greykite and Equilibria acquire NH München City Süd from NH Hotels

London-based Greykite European Real Estate Fund, together with British development and consultancy firm Equilibria Group, have acquired the vacant three-star, 162-room NH München City Süd in Germany from Spanish owner-operator NH Hotels. The 8,000 sqm building is situated in Munich’s southern Ramersdorf-Perlach district. The JV plans to transform the hotel into student accommodation with approximately 190 rooms, ready for the 2026-27 academic year. The JV partners aim to invest over €250 million in the high-growth, supply-constrained German PBSA sector, marking the fund’s fourth investment strategy and its first in PBSA since the formal launch of Greykite in March this year.

Dutco Group acquires Bruntsfield Hotel, Edinburgh, from Castleforge

Dubai-based conglomerate Dutco Group has acquired the four-star, 74-room Bruntsfield Hotel in Edinburgh, Scotland, from UK-based private real estate investor Castleforge. The hotel is situated in Edinburgh’s Bruntsfield area, just two kilometres southwest of the city’s Old Town. British asset manager Align Partners will manage the property. Following Castleforge’s acquisition of the hotel in 2021, bedrooms and the restaurant were refurbished. Dutco plans to further renovate the property and reposition it as a luxury hotel, with upgrade work set to begin in 2025. This is Dutco’s second acquisition in Scotland, following its purchase of the five-star, 53-room Mar Hall Golf & Spa Resort in December 2023.

Compass Hospitality and Seacare acquire Trouville Hotel, UK

Thai hotel management company Compass Hospitality, together with Seacare Hospitality, the hospitality arm of Singaporean maritime company Seacare Group, have acquired the three-star, 88-room Trouville Hotel in Sandown on the Isle of Wight in the UK, from the Moorman family. The hotel has been owned and operated by the family for the past 45 years. The property features the Island’s largest ballroom, a restaurant with panoramic sea views over the sea and a bar. Following this acquisition, Compass’s portfolio now comprises 25 hotels across the UK.

Philema acquires Budock Vean Hotel, UK, from Barlow family

British owner-operator Philema Hospitality Management has acquired the four-star, 50-room Budock Vean Hotel in Falmouth, Cornwall, in the south-west of England, from the Barlow family, off a guide price of £6.5 million (£130,000 per room). The property, situated by the Helford River in West Cornwall, has been owned and operated by the family for 37 years. The hotel features a restaurant, a full-service spa and its own golf course. Philema’s portfolio includes three other hotels, two in Cornwall and the other in Devon.