Europe Hotel Transactions Bulletin - Week Ending 22 October 2021 (October 22, 2021)

Henderson Park acquires 12 Hilton-branded hotels in the UK and Ireland from LRC 

Real estate investment platform Henderson Park has acquired a 2,424-room portfolio of 12 hotels in the UK and Ireland from privately held investment firm LRC Group for a reported £555 million (£229,000 per room).  The portfolio is a collection of full-service hotels that are franchised under the Hilton, DoubleTree and Hilton Garden Inn brands. Locations include London, Edinburgh, Glasgow and Dublin, Bristol, Coventry, Dartford, Newbury and Southampton. HVS advised on the transaction.

Goldman acquires The Belfry Hotel & Resort from KSL 

US investment bank Goldman Sachs has acquired the 324-room Belfry Hotel & Resort in Warwickshire, UK from American private equity firm KSL Capital Partners for a reported £140 million (£432,000 per room).  The property features three 18-hole courses, a spa and conference facilities.  KSL bought the four-time Ryder Cup host venue for an undisclosed sum in 2012.  The De Vere Group, which owned and operated The Belfry prior to 2005, was brought back in to manage the venue in April of this year.

Union acquires two Polish hotels from UBM in sale and lease-back deal 

German investment manager Union Investment has completed the acquisition of two Polish hotels from Austria’s UBM Development AG for a price in excess of €80 million (€152,000 per room) on a sale and lease-back basis.  The deal was originally agreed in January 2020, at which time the price was reported as being approximately €86 million. The 527-room portfolio consists of the 259-room ibis Styles in Kraków, and the 268-room Mercure in Katowice.  UBM will remain as tenant, on 25-year leases, with both hotels to be managed by Accor.

Tristan acquires the Qbic Manchester 

Tristan Capital Partners, an independent real estate investment management firm, has acquired the recently built 261-room Qbic Manchester, for an undisclosed sum. Following a three-year conversion from an office building, the hotel opened in May 2021. The property will be operated by Hamilton Hotel Partners under the Yotel flag. Tristan has acquired the property for its newly formed EPISO 5 Fund, with the target to deploy in excess of €500 million into hospitality investments, predominantly in Spain and the UK. HVS advised Tristan Capital Partners on the transaction. 

Aviva forward-funds the Dalata Maldron Hotel, Liverpool 

Aviva Investments, on behalf of Aviva’s Linked Property Fund, has entered an agreement with UK developer Valorem Investment Partners, to forward-fund the Dalata Maldron Hotel in Liverpool in a £37.5 million transaction. The 260-bedroom hotel is pre-let to Irish operator Dalata on a 35-year lease agreement with CPI-linked rent uplifts and will operate under the Maldron brand as a lifestyle four-star property. The main contractor appointment has been granted to McAleer & Rushe, who will commence construction on the property in early 2022, with a scheduled opening date set for mid-2023.


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