Covivio acquires the Hilton Dublin Kilmainham from Apollo  

Paris-based real estate investor Covivio has acquired the 120-room Hilton Dublin Kilmainham in Ireland, for approximately €45 million (€375,000 per room) from US private equity group Apollo Global Management. Apollo originally bought the hotel as part of its Tifco Hotel Group acquisition in 2018, which included Tifco’s hotel management platform. Tifco will continue to manage the property.   
 

Credit Suisse agrees to sell portfolio of eight Swiss hotels to Aevis Victoria  

Aevis Victoria, a Swiss investment fund whose holdings include the Victoria Jungfrau hotel in Interlaken, Switzerland, has entered into an agreement to acquire a portfolio of eight Swiss hotels from Credit Suisse. The 640-room portfolio includes the InterContinental Davos, the Mont Cervin, Petit Cervin and Villa Margherita hotels in Zermatt, the Welcome Hotel in Tasch and the Swiss Holiday Park in Morschach. While the final purchase price has not been formally announced, it is reported to be slightly below the portfolio’s 2018 valuation of CHF 331 million (CHF 517,000 per key).

New Century sells the Holiday Inn Eindhoven to Somerset Capital  

Hong-Kong listed REIT New Century has sold the 207-room Holiday Inn Eindhoven to local real estate investor Somerset Capital Partners for €39.75 million (€192,000 per room).  The property, which is leased to Eden Hotels and operated under a franchise agreement with IHG, was acquired by New Century in 2016 and will continue to be operated by Eden Hotels under its new ownership. In the medium-term, Somerset Capital plans to redevelop the 12,000 sqm current hotel into a mixed-use residential, office and hotel complex spanning 80,000 sqm.

Sontowski forward-sells Niu Bricks Hamburg Eppendorf, Germany 

German real estate developer Sontowski & Partner Group has forward sold the 192-room Niu Bricks Hamburg Eppendorf to a German institutional investor. The hotel is currently under construction, and will include a restaurant, a bar and 20 external parking spaces. In close proximity to Hamburg’s University Medical Centre Hamburg-Eppendorf, the hotel is set to open in mid-2020 and will be operated by Novum Hospitality.

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