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Avila Group acquires Nassauer Hof in Wiesbaden, Germany from Honestis AG – Image Credit Hommage Hotels
A summary of European hotel transactions provided by HVS
Brookfield acquires Generator Hostels from Queensgate
Global investment firm Brookfield Asset Management has acquired the European platform of budget lifestyle Generator Hostels from London-based private equity firm Queensgate Investments for €776 million. The platform includes 15 assets (2,749 rooms) in 10 countries across key European cities, including London, Paris, Rome, Berlin and Madrid. Following the acquisition, Brookfield plans to drive Generator’s growth through strategic acquisitions and third-party management deals in the hostel sector. Queensgate originally acquired Generator in May 2017 for €440 million, when the platform comprised 12 properties with 1,894 rooms. It since added to the portfolio with four properties in the US through its 2019 acquisition of Freehand Hotels. Those assets are retained by Queensgate.
Stig Fische sells Støtvig Hotel in Larkollen, Norway to group of private investors
A group of private investors has acquired the four-star, 91-room Støtvig Hotel in Larkollen, Norway from Norwegian hotelier Stig Fische and family for approximately NOK 500 million (NOK 5.5 million per room), which is equivalent to approximately €43 million (€473,000 per room). The investors include the Varner family, Harald Moræus-Hanssen, Jarle Norman-Hansen, Sigurd E. Thorvildsen and Bård Bjølgerud. The property is situated by the Outer Oslofjord, about an hour’s drive south of Oslo. The hotel includes three restaurants, three bars and ten meeting rooms.
Épargne Pierre Europe acquires Campanile Duisburg City in Germany from Soravia
Épargne Pierre Europe, a real estate investment fund managed by French real estate investor Atland-Voisin, has acquired the three-star, 169-room Campanile Duisburg City in Germany, from Austrian real estate developer Soravia for €14.5 million (€85,800 per room). Duisburg is a city of some 500,000 people, situated in the state of North Rhine-Westphalia some 30 kms north of Düsseldorf. The property is situated in Duisburg’s central old town and includes a bar. The hotel opened in 2020 and is leased to the Louvre Hôtel Group under a 15-year lease with a 5-year extension option.
Avila Group acquires Nassauer Hof in Wiesbaden, Germany from Honestis AG
German real estate company Avila Group has entered an agreement to acquire the five-star, 159-room Hotel Nassauer Hof in Wiesbaden, Germany, from German investor Honestis AG. The property is situated in central Wiesbaden, some 30 kms from Frankfurt Airport, across from the casino and state theatre. The hotel includes three restaurants, two bars and nine meeting rooms. Following the acquisition, the Avila Group plans to completely renovate all guest rooms, public areas, and the spa, reducing the room count from 159 to 104 and adding serviced apartments.
Azora acquires Ferrer Skyline aparthotel in Menorca, Spain
Spanish real estate investment manager Azora has acquired the four-star, 163-room aparthotel Ferrer Skyline in Menorca, Spain. The property is situated by the beachfront in Ciutadella de Menorca, one of the island’s two largest towns, and includes two swimming pools and a poolside bar. In June 2024, Azora acquired the three-star, 66-room Le Berger and the three-star, 33-room Jardin Secret in Brussels, Belgium. Azora’s portfolio currently consists of 46 hotels (11,600 rooms) throughout Europe and the USA.
Dormero acquires MyTirol Hotel in Austria from the Swarovski Family
German owner-operator Dormero Hotels has acquired the three-star, 83-room MyTirol Hotel in Biberwier, Austria, from the Swarovski Family, founders of the famous crystal brand. The ski hotel is situated at the foot of the Zugspitze mountain in Austria’s Tyrol region and includes a swimming pool, cinema and meeting room. Following the acquisition, it now operates as the Dormero BeHo Zugspitze. This marks Dormero’s 56th property and its third hotel in Austria.
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