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Brussels Marriott Hotel Grand Place – Image Credit Marriott International
A summary of European hotel transactions provided by HVS
HVS Hodges Ward Elliott acts for Archer Hotel Capital in the sale of the Brussels Marriott to LRO Hospitality
LRO Hospitality, a joint venture between London + Regional Properties and Dutch pension fund manager PGGM, has acquired the 222-room Brussels Marriott Hotel Grand Place in Belgium from Archer Hotel Capital, the European hotel investment vehicle owned by Singapore’s sovereign wealth fund GIC and Dutch pension fund manager APG, for €91 million (€410,000 per room). The landmark property is situated on Brussel’s Stock Exchange Square, just steps from the famous Grand Place. The hotel includes two restaurants, six meeting rooms and an executive lounge, as well as an 889 sqm commercial space leased to McDonald’s. Archer completed a €16 million renovation of the hotel in early 2024, after converting the operations from a Marriott HMA to a franchise agreement in early 2023. L+R Hotels will now assume operations of the hotel under the ongoing Marriott franchise. HVS Hodges Ward Elliott brokered the sale on behalf of Archer.
Grupo Hotusa acquires 9 hotels in Spain from CBRE IM and Pygmalion
Spanish tourism conglomerate Grupo Hotusa has acquired a portfolio of nine four-star hotels (1,654 rooms) in Spain from global real estate investment company CBRE Investment Management and London-based hotel investment firm Pygmalion Capital Advisers, for €250 million (€151,100 per room). The hotels are situated across Spain, including Madrid, Seville, as well as various tier 2 cities. All hotels were operated by Spanish operator Silken. Following the acquisition, Hotusa will take over management of these properties and incorporate them into its portfolio.
DTZ Investors acquires Radisson Blu Euston Square in London from Starwood Capital
London-based real estate investment company DTZ Investors has acquired the four-star, 330-room Radisson Blu Hotel, London Euston Square in the UK from US private equity fund Starwood Capital. DTZ paid £58 million for the freehold interest, which also includes 2,450 sqm of retail space leased to 12 different tenants including Tesco, Boots, McDonald’s, Starbucks and Caffè Nero. The hotel is leased long-term, until 2163, to Grafton Opco Limited, which trades as Radisson Blu London Euston Square, with the rent based on a percentage of ERV / open market rent with uplifts every five years. The tenant is currently investing around £7.5 million (£22,700 per room) in a phased refurbishment. The hotel was part of a portfolio of ten London hotels that Starwood Capital acquired from Edwardian Hotels in January 2024
Remake Asset Management acquires NH Lyon Airport in France
French company Remake Asset Management, through its SCPI Remake Live, has acquired the four-star, 245-room Hotel NH Lyon Airport in France, for an amount reported to be over €43 million (€175,500 per room), reflecting a net acquisition yield of 7.2%. The property is situated next to Lyon-Saint Exupéry Airport and includes a restaurant, bar and five meeting rooms. The hotel is leased to Spanish owner-operator NH Hotel Group, with a remaining fixed lease term of 8 years. NH has operated the hotel since its opening in 2009.
Nani Mocenigo Palace acquires Ca Maria Adele in Venice, Italy
Italian serviced apartment owner-operator Nani Mocenigo Palace has acquired the four-star, 12-room Ca Maria Adele in Venice, Italy, from Italian hoteliers Alessio and Nicola Campa, for €10 million (€833,300 per room). The property is situated at the eastern end of the Dorsodouro neighbourhood, opposite the Basilica Santa Maria della Salute, and includes a breakfast restaurant. Nani also owns and operates the nearby 5-star, 26 room Hotel Nani Mocenigo Palace, which is currently undergoing a €7million renovation.
Extendam and Highgate acquire Hilton Porto Gaia in Portugal
French private equity firm Extendam, together with US-based hotel owner-operator Highgate, has acquired the five-star, 194-room Hilton Porto Gaia in Porto, Portugal, from funds managed by the Portuguese investment firm ECS. The property is situated by the Douro River in the Vila Nova de Gaia district. The hotel, which opened in 2021, includes a restaurant, two bars and ten meeting rooms. Highgate, which operates a portfolio of properties across Portugal, will continue managing the subject hotel under a franchise agreement with Hilton.
LBO France acquires Hôtel Konti in Bordeaux
French private equity firm LBO France has acquired the four-star, 51-room Hôtel Konti in Bordeaux, France. The hotel is part of Honotel’s HappyCulture brand, with LBO being the majority owner of Honotel since 2021. The property is located in the city’s Golden Triangle district near Place des Grands Hommes and includes a breakfast restaurant and a meeting room. In April 2025, LBO acquired three other HappyCulture branded hotels, in Strasbourg, Nice and Toulouse, as reported in this newsletter.
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