Europe Hotel Transactions Bulletin - Week Ending 25 January 2019 (January 26, 2019)

APG and GIC jointly establish Archer Hotel Capital 

Dutch pension fund APG Group and Singapore-based GIC Real Estate have jointly formed a new European hotel investment vehicle, Archer Hotel Capital B.V. This announcement follows the exit of Host Hotels & Resorts from the previous European joint venture between Host, GIC and APG, with GIC and APG acquiring Host’s interest in a portfolio of eleven hotels and over 4,000 rooms in major Western European cities. All eleven assets will be transferred to Archer Hotel Capital and total some €2 billion in gross asset value. The new vehicle’s shareholders intend to commit an additional €300 million in equity to capitalise on future investment opportunities.

Barceló buys five-star resort in Marrakech 

Mallorca-based Barceló Hotel Group is acquiring the five-star resort Barceló Palmeraie outside of Marrakech for a reported €35 million (€139,000 per room). In addition, the hotel group has purchased two plots, one located next to the hotel complex with the aim of incorporating 120 new rooms – and another located three kilometres from the city centre, where Barceló plans to build a new five-star hotel with 160 rooms.

M&G acquires leasehold to develop hotel complex in London Paddington 

M&G Investments, a London-based investment manager, is purchasing the long leasehold interest of a development site in Paddington, just north of Hyde Park in central London, for a reported £203 million. The future hotel complex will be operated under lease agreements with Premier Inn-owner Whitbread and Staycity for 30 years each. The Premier Inn will have 373 rooms while the Staycity property will offer an aparthotel of 247 studios and one-bedroom units under its premium brand Wilde Aparthotels by Staycity. The hotels are set to open by 2021.

A&O Hostels expands into Poland, acquiring former office building 

Berlin-based budget group A&O Hostels has acquired an eight-storey former office building located in the district of Wola, west of central Warsaw. The building will be converted into a 200-room, 600-bed hostel and is set to open in the third quarter of 2019. The acquisition expands A&O’s portfolio to 35 hostels in 22 cities across seven countries in Europe.

 

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