Europe Hotel Transactions Bulletin - Week Ending 22 February 2019 (February 26, 2019)

HVS Hodges Ward Elliott acts on the sale of the Hotel Don Giovanni, Prague 

Mornington Capital has sold the Hotel Don Giovanni in Prague to Norwegian hotel investor Wenaasgruppen. The 412-room hotel is one of Prague’s largest hotels and offers extensive meeting facilities. The acquisition of the Hotel Don Giovanni represents Wenaasgruppen’s second investment in the Czech Republic’s capital over the last 12 months, following the acquisition of the Sheraton Prague in March 2018. HVS Hodges Ward Elliott acted as joint seller’s agent in this transaction.

Vivion acquires Zinc Hotels’ remaining Hilton properties in the UK 

Vivion Capital Partners has acquired a portfolio of nine Hilton hotels, which were the remaining properties in the Zinc Hotels Portfolio, for £246 million (£171,000 per room). The portfolio, totalling 1,439 rooms, comprises the 168-room Hilton Croydon, the 130-room Hilton York, the 139-room Hilton Northampton, the 152-room Hilton East Midlands Airport, the 155-room Hilton Cobham, the 206-room Hilton Leeds City Centre, the 177-room Hilton Nottingham, 200-room Hilton Watford and the 112-room Hilton Puckrup Hall. Zinc Hotels, previously controlled by Iranian-British businessman Vincent Tchenguiz, has been in administration since February 2018. The portfolio initially also comprised the 603-room Hilton London Kennington, which was sold separately to Cola Holdings in mid 2018.

Palazzo Della Fonte sold to Forte Village Group 

Sardinia-based Forte Village Group has acquired the 144-room Grand Hotel Palazzo della Fonte, during an auction, for €16.5 million (€115,000 per room), after the property closed under a court order related to financial difficulties in December 2018. Opened in 1913 and located in the Italian spa village of Fiuggi, 90 km from Rome, the Palazzo della Fonte was considered one of the most prestigious hotels in Italy. Owner-operator Forte Village Group specializes in luxury resorts and retreats.

 

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Disclaimer: Information provided above has been gathered from various market sources. HVS has not independently verified the accuracy of the information provided. Interested parties should not rely on the information as statement of facts and are advised to make their own independent checks to verify the information provided. For further information, please feel free to contact HVS London.

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