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SCPI Novaxia Neo acquires VTZ Hotel El Principe in Zaragoza, Spain
A summary of European hotel transactions provided by HVS
Pandox and Eiendomsspar to acquire Dalata Hotel Group
Swedish hotel investor Pandox AB, together with Norwegian real estate investor Eiendomsspar AS, is set to acquire Irish owner-operator Dalata Hotel Group in a transaction valuing the company’s fully diluted share capital at approximately €1.4 billion. The acquisition includes a portfolio of 56 hotels totalling 12,219 rooms across Ireland, the UK, Germany and the Netherlands. It comprises 31 owned freehold and long leasehold properties, 22 leasehold hotels and 3 managed hotels. Pandox will hold a 91.5% ownership stake, with the remaining 8.5% held by Eiendomsspar. Scandic Hotels Group AB, Pandox’s operating partner, is set to operate the existing Dalata portfolio. Eiendomsspar is Pandox’s largest shareholder and also owns 15% of Scandic. The deal, which is expected to close in Q4 2025, is subject to various regulatory and board approvals.
Arora Group acquires Bloc Hotels in the UK
UK owner-operator Arora Group has acquired UK owner-operator and developer Bloc Hotels. Included in the transaction are the three-star, 245-room Bloc Hotel Gatwick, the three-star, 105-room Bloc Hotel Birmingham, and two development sites in Glasgow and Birmingham. The Gatwick hotel is located inside London Gatwick’s South Terminal, while the Birmingham property is situated in central Birmingham near the Jewellery Quarter. Plans are in place to develop the two sites into Bloc Glasgow and Bloc Grand Central Birmingham. This acquisition increases Arora’s UK hotel portfolio to 20 hotels, a number of which are located at Gatwick and Heathrow airports.
BH Group acquires five UK hotels from Coast & Country Hotel Collection
British real estate and hospitality development company BH Group has acquired five regional UK hotels from the British Coast & Country Hotel Collection. The portfolio comprises the 159-room Burlington Hotel in Eastbourne, the three-star, 70-room Windermere Hotel in Cumbria, the three-star, 57-room Imperial Hotel in Exmouth, the three-star, 87-room St Ives Bay Hotel and the three-star, 55-room Ship and Castle Hotel, both in Cornwall. Following this acquisition, BH Group owns nine hotels in the UK.
Barceló acquires two hotels in León, Spain, from By Vamuca
Spanish owner-operator Barceló Hotel Group has acquired the four-star, 134-room Barceló León Conde Luna and the four-star, 62-room Occidental León Alfonso V in León, Spain, from León-based owner-operator By Vamuca. The Barceló León is situated in the city centre near the León Cathedral, and includes two restaurants and five meeting rooms. Barceló will renovate the rooms and common areas over the coming months. The Occidental León is situated just steps away from the Barceló León and includes a breakfast restaurant. This acquisition follows Barceló’s purchase last week of the four-star, 338-room Evergreen Laurel Hotel in Paris, France, as reported in this newsletter.
Yellow Tree acquires Hilton Garden Inn Bucharest Airport from Apex Alliance
Gibraltar-based investor Yellow Tree has acquired the four-star, 218-room Hilton Garden Inn Bucharest Airport in Romania from Lithuanian hotel investor and operator Apex Alliance for an amount reported to be approximately €40 million (€183,500 per room). The property is situated by Romania’s main airport, Bucharest Henri Coandă International Airport. The hotel opened in 2019 and includes a restaurant and five meeting rooms. Apex will continue operating the hotel following the sale.
Extendam and Amante acquire Mercure Nice Centre from Turenne Groupe
French private equity firm Extendam, together with UK owner-operator Amante Capital, has acquired the four-star, 198-room Hôtel Mercure Nice Centre Notre-Dame in France from French investment management firm Turenne Groupe. The property is situated in central Nice directly opposite the Basilica of Notre-Dame de Nice. The hotel includes a restaurant and bar, a rooftop swimming pool and two meeting rooms. 74 guest rooms were renovated between 2023 and 2024, with Extendam and Amante intending to complete the remaining 124 rooms in the coming months, along with a rebranding under an international lifestyle brand.
SCPI Novaxia Neo acquires VTZ Hotel El Principe in Zaragoza, Spain
SCPI Novaxia Neo, the French investment vehicle of real estate investor Novaxia Investissement, has acquired the three-star, 45-room VTZ Hotel El Principe in Zaragoza, Spain, at a reported yield of 7.57%. The property is situated in the old town by the Cathedral of the Savior of Zaragoza and includes a restaurant and gym. The hotel was partially renovated recently and has been operated by the Spanish operator Grupo VTZ Alojamientos since January 2024 under a 10-year lease. Novaxia will invest €200,000 to enhance the hotel’s sustainability.
Leonardo Hotels acquires Radisson Blu Erfurt in Germany
Leonardo Hotels, the European division of Israeli owner-operator Fattal Hotel Group, has acquired the four-star, 284-room Radisson Blu Hotel, Erfurt in Germany. The city of Erfurt in located in the centre of Germany, roughly half way between Frankfurt and Berlin, 150 kms south-west of Leipzig. The property is situated in Erfurt’s central old town and includes a restaurant, bar and 13 meeting rooms. The hotel will undergo a soft renovation to meet NYX Hotel standards, while continuing operations, and will be renamed NYX Hotel Erfurt by Leonardo Hotels.
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