A abstract of European resort transactions offered by HVS
Aroundtown sells Hilton London Hyde Park to Dubai household workplace
German actual property firm Aroundtown SA has offered the four-star Hilton Hyde Park in London, UK, for a reported worth near £50 million (£368,000 per room), to an undisclosed household workplace from Dubai. The 136-room property sits on a 0.47-acre web site reverse the north-western nook of Hyde Park in Bayswater, near the Queensway underground station, with rooms overlooking the park. The resort is operated by Hilton beneath a lease settlement till 2031. The brand new house owners are reportedly contemplating changing the location into residential residences on the finish of the lease.
KE Inns acquires the Vacation Inn London – Luton Airport
Led by Anil Khanna, London-based resort owner-operator KE Inns has acquired the three-star, 124-room Vacation Inn London – Luton Airport for an undisclosed sum, from a consortium of personal traders. The freehold resort additionally has two assembly rooms, a health centre and on-site parking, and is situated inside 10 minutes’ stroll from the Luton Airport passenger terminal. The property is operated beneath a franchise settlement with InterContinental Inns Group beneath its Vacation Inn model. This acquisition will increase KE Inns’ portfolio to 4 lodges, together with the Moxy Manchester, Linton Lodge Oxford and Resort Indigo Newcastle. The acquisition was funded by British Metro Financial institution.
Grupotel acquires the Resort Membership Cala Marsal in Mallorca from the Catalá household
Spanish resort chain Grupotel Inns & Resorts has acquired the four-star, 347-room Resort Membership Cala Marsal resort in Mallorca, Spain, from the Catalá household, for an undisclosed sum. The beachfront property is situated on the japanese aspect of the island, lower than an hour’s drive from Palma de Mallorca Airport. Grupotel, owned by the Ramis household, now holds a portfolio of 25 lodges in Mallorca, making it the third-largest chain on the island, with one other 22 properties situated in Menorca, Ibiza, Barcelona, Gran Canaria and Lanzarote, totalling 9,245 rooms throughout its portfolio. The Resort Membership Cala Marsal is ready to endure an in depth renovation in the course of the 2024-2025 winter season.
Bryan Meehan acquires Park Resort Kenmare in Eire from the Brennan brothers
California-based Irish businessman Bryan Meehan has acquired the five-star, 46-room Park Resort in Kenmare, Eire, from the Brennan brothers and investor Fergal Naughton. The transaction worth was not disclosed, however the property was delivered to market earlier in 2023 with a €17 million (€370,000 per room) information worth. The property is situated on Eire’s south-west coast, a four-hour drive from Dublin, overlooking Kenmare Bay. The luxurious resort has 5 F&B shops, two swimming pools, a personal cinema and a spa. Mr. Meeran is the founder, amongst different entrepreneurial ventures, of Blue Bottle Espresso. Francis Brennan acquired the property in 1986 out of administration and the brothers have been working it since, with Fergal Naughton, Chief Government at electrical items firm GlenDimplex, as a co-investor since 2017.
ECS acquires B&B HOTEL Lisboa Montijo in Portugal from Sunny and Casais JV
Portuguese personal funding agency ECS Capital has acquired the 112-room B&B HOTEL Lisboa Montijo in Lisbon, Portugal, from a three way partnership between Spain’s Sunny Actual Property Group and Portuguese development firm Casais, for an undisclosed sum. The resort is presently leased to French group B&B Inns, which operates over 720 financial system lodges in 15 international locations. The topic property is situated on the northern coast of the Setúbal peninsula. ECS Capital was acquired in 2022 by a consortium led by funding funds suggested by Davidson Kempner Capital Administration, for a reported €850 million and included 18 lodges, three golf programs, residential properties and land to develop.
Seneca acquires the Premier Inn Preston Central resort in Preston, UK, from Aegon
British actual property funding agency Seneca Property has acquired the freehold of the three-star, 140-room Premier Inn Preston Central resort in Preston, UK, from Aegon AM, for an undisclosed sum. The resort was put available on the market over a 12 months in the past for £8.7 million (£62,000 per room). The property is situated 500 metres from the Preston railway station within the metropolis centre, and was constructed in 2011 at a reported value of some £23 million. Premier Inn signed a 25-year lease that 12 months, and the resort chain accounts for 91% of the property’s whole revenue, producing £725,000 in annual lease. The property additionally homes two retail shops. Seneca Property oversees a portfolio of 16 belongings all through the UK, starting from industrial websites and workplace areas to retail properties.
HVS is the world’s main consulting and valuation companies group targeted on the resort, restaurant, shared possession, gaming, and leisure industries. Established in 1980, the corporate performs greater than 4,500 assignments per 12 months for nearly each main business participant. HVS principals are thought to be the main professionals of their respective areas of the globe. By way of a worldwide community of over 50 places of work staffed by 300 skilled business professionals, HVS offers an unparalleled vary of complementary companies for the hospitality business. For additional info concerning our experience and specifics about our companies, please go to www.hvs.com.
