Vienna House acquires Arcona Group Portfolio in Germany 

Austrian hotel operator Vienna House has announced the acquisition of a portfolio of 17 hotels in Germany from Arcona Group. In addition to eight Arcona Living and four Arcona Hotels, the deal also includes five Steigenberger hotels that Arcona operated under franchise contracts with Deutsche Hospitality, as well as two development projects in Greifswald and Mannheim in Germany.  The existing hotels are situated in cities such as Potsdam, Stuttgart, Rostock, Leipzig, Baden-Baden, Berlin, Bremen and Munich.

KKR sells two Antwerp hotels to Capital France Hotel 

KKR’s Real Estate Partners Europe fund has sold the 253-room Radisson Blu Astrid and the 59-room Park Inn in Antwerp, Belgium, to Capital France Hotel, a specialist hotel investment vehicle asset managed by Schroders Real Estate Hotels.  Schroders already owned a minority interest in the two properties through their acquisition of Algonquin in 2018, after KKR and Algonquin had acquired the subject properties together in June 2015.  The Radisson Blu recently underwent an €11 million renovation of guestrooms and public spaces, and both hotels will continue to be managed by Radisson Hotels.

Oslo Pensjonsforsikring AS buys Scandic Ornen in Bergen, Norway 

The Norwegian pension fund Oslo Pensjonsforsikring AS has acquired the 368-room Scandic Ornen in Bergen, Norway for €82.8 million (€225,000 per key). The hotel was developed by the seller, OBOS Eiendom, and opened in 2014. It will continue to be operated by Scandic under a long-term lease contract.  

Warimpex acquires hotel in Darmstadt, Germany 

Austrian real estate company Warimpex Finanz-und Beteiligungs AG has acquired the non-operational, 324-room Commundo Tagungshotel in the Telekom business district of Darmstadt, Germany. The hotel, which also includes 26 conference rooms and 820 sqm of office space, was closed in July 2018, having previously been operated by Commundo, a subsidiary of Deutsche Telekom. Warimpex plans to reopen the hotel under an international brand in the third quarter of 2019, following a refurbishment of the property.

Inland Homes forward-sell Premier Inn Bournemouth 

Inland Homes, a specialist residential developer focused on the South of England, has announced the forward sale of the 105-room Premier Inn on West Cliff Road in Bournemouth to Aviva Investors for £13.3 million (127,000 per key).  Part of an 88-unit residential development, the hotel will be operated by Whitbread under a long-term lease contract. The deal represents an initial yield of 4.15%.
 

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