HVS Europe Lodge Transactions Bulletin Week Ending 6 September 2024

A abstract of European lodge transactions supplied by HVS

Pandox acquires DoubleTree by Hilton Edinburgh from Starwood

Swedish lodge proprietor Pandox has entered an settlement to amass the four-star, 138-room DoubleTree by Hilton Edinburgh Metropolis Centre lodge in Edinburgh, Scotland, from American non-public fairness agency Starwood Capital Group, for £49 million (£355,000 per room). The lodge is positioned simply to the south of Edinburgh Citadel, round 10-minutes’ stroll from the Royal Mile. London-based operator Axiom Hospitality is ready to handle the property below a administration settlement. Pandox plans to judge the lodge’s model technique and working mannequin, with the present franchise settlement with Hilton due to run out in 2027. The lodge is anticipated to generate an preliminary yield of some 7.5%, rising to a possible 9% sooner or later “by way of lively operational enhancements and focused investments”. HVS supplied advisory providers in relation to the transaction.

MNK Companions acquires the Premier Inn Aberdeen Airport in Scotland

French portfolio supervisor MNK Companions, on behalf of its pan-European fund MNK Europe+, has reportedly acquired the three-star, 100-room Premier Inn Aberdeen Airport (Dyce) lodge in Aberdeen, Scotland, for £6 million (£60,000 per room). Inbuilt 2013, the asset is held on a long-leasehold foundation till 2180. It’s managed by Premier Inn Inns below an working lease that’s set to mature in July 2038, with a break possibility in July 2033. A purchase order at this stage reportedly displays a web preliminary yield of 9%. That is the eighth and ultimate asset acquired below the MNK Europe+ fund, which has a seven-year lifetime.

Inwood Inns acquires 5 Seas Hôtel Cannes from Dona Bertarelli

Inwood Inns, a French boutique lodge operator, has acquired the five-star, 45-room 5 Seas Lodge Cannes on France’s Cote d’Azur, from Swiss billionaire Dona Bertarelli. The lodge is positioned simply two-minutes’ stroll from Cannes’ well-known shorefront promenade, the Boulevard de la Croisette, and really near town’s Palace of Festivals and Congresses. Opened in 2011, the lodge is affiliated with Marriott’s Design Inns, a boutique luxurious assortment model with over 300 properties worldwide. This marks the third acquisition for Inwood Inns on the Cote d’Azur, following their 2023 acquisitions of the four-star, 46-room La Malmaison in Good, and the Impérial Garoupe in Cap d’Antibes, a 34-room five-star lodge affiliated with Relais & Châteaux. 

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