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American investor acquires The Alpina Gstaad from Bach and Mimran
A summary of European hotel transactions provided by HVS
American investor acquires The Alpina Gstaad from Bach and Mimran
An American investor who is a regular client of The Alpina Gstaad, Switzerland, has reportedly acquired the 56-room luxury hotel from local real estate investor Marcel Bach and French billionaire Jean-Claude Mimran, for an amount reported to be some CHF 200 million (CHF 3.6 million per room), which is equivalent to approximately €210 million (€3.75 million per room). The hotel is just above the village centre of Gstaad, one of Switzerland’s famous alpine resorts, and includes four restaurants, a bar, a Six Senses spa and six meeting facilities. The Alpina Gstaad opened in 2012 as part of a €315 million luxury development that included three chalets and 11 apartments.
Pandox acquires Elite Frost Hotel, Kiruna in Sweden from local municipality
Swedish hotel investor Pandox AB has entered an agreement to acquire the newly built, 154-room Elite Hotel Frost, Kiruna, Sweden, from the Municipality of Kiruna, for SEK340 million (SEK 2.2 million per room), which is equivalent to approximately €31.4 million (€203,900 per room). The hotel is expected to open in June 2025 and is situated in eastern Kiruna, a city in the northern part of Sweden. The property will include two restaurants, a bar and five meeting rooms. It is leased to Swedish operator Elite Hotels under a 15-year revenue-based lease agreement with a minimum guaranteed rent. Earlier this month, Pandox acquired the four-star, 275-room Pullman Cologne, Germany, as reported in this newsletter.
Iroko Iberia acquires Spanish hotel htop Calella Palace from Htop Hotels
Iroko Iberia, a subsidiary of French institutional investor Iroko Zen SCPI, has acquired the four-star, 339-room Hotel htop Calella Palace Family & SPA in Calella, Spain, from Spanish owner-operator Htop Hotels for €22 million (€64,900 per room) in a sale and leaseback transaction. The property is situated by Calella Beach, a 50-minute drive northeast of Barcelona and includes a restaurant, bar and pool. Htop Hotels will retain operation of the hotel under a 20-year fixed lease and plans to invest €4 million (€11,800 per room) in renovations.
Iroko Zen SCPI acquires three B&B Hotels in Italy from Bayview Italia
French institutional investor Iroko Zen SCPI has acquired a portfolio of three B&B hotels (277 rooms) in Italy from Italian real estate asset manager Bayview Italia, for an amount reported to be some €13.8 million (€49,800 per room), with a non-guaranteed net initial yield of 7.58%. The mid-market portfolio includes the 110-room B&B Hotel Bologna, the 91-room B&B Hotel Sassuolo and the 76-room B&B Hotel Ferrara. All three hotels include a breakfast restaurant.
Mohamed Alabbar acquires The Ritz-Carlton, Vienna from Verny Capital
UAE billionaire Mohamed Alabbar, who controls Emaar and Eagle Hills, has acquired the five-star, 200-room Ritz-Carlton, Vienna, Austria, from Kazakh private equity firm Verny Capital. The property is situated on Vienna’s central Ringstrasse, next to the Stadtpark. The hotel includes two restaurants, two bars and nine event rooms. In October 2024, Emaar Properties acquired the five-star, 46-room Grand Hotel Imperiale in Forte dei Marmi, Italy, for €40 million (€869,570 per room), as reported in this newsletter.
Al-Bahar acquires a further 30% stake in Yotel from Starwood Capital
Kuwait-based conglomerate Al-Bahar Group has acquired an additional 30% stake in British owner-operator Yotel from American private investment firm Starwood Capital. This acquisition increases Al-Bahar Group’s ownership in Yotel to 95%. Starwood originally acquired the 30% stake in 2017 and, in addition to this, invested a further £185 million, which helped expand Yotel’s portfolio from six to 34 properties globally.
Invesco acquires IntercityHotel Berlin Central Station from CA Immo
Global investment manager Invesco has acquired the four-star, 412-room IntercityHotel Berlin Central Station, Germany, from Austrian real estate developer CA Immo. The property is situated next to the central train station in Berlin’s Moabit district. The hotel includes a breakfast restaurant, bar & lounge and 10 meeting rooms. CA Immo developed the hotel and opened it in 2013, making it Germany’s first hotel to receive a platinum certificate from the German Sustainable Building Council.
Extendam and Alboran acquire eight hotels in Bourges from the Falleur family
French hotel investor Extendam and French owner-operator Alboran Group have jointly acquired eight hotels in Bourges, France, from the French Falleur family, which has owned the hotels since 1989. The portfolio comprises a total of 507 rooms and includes the three-star, 66-room Ibis Styles Bourges, the three-star, 86-room Ibis Bourges, the four-star, 31-room Best Western Plus Hôtel d’Angleterre, the four-star, 93-room Novotel Bourges, the four-star, 58-room Hôtel de Bourbon – Mercure Bourges, the two-star, 33-room The Originals Access, Hôtel Bourges Gare, the three-star, 65-room The Originals City, Hôtel Le Berry and the two-star, 75-room Ibis Budget Bourges. Bourges is situated in central France on the river Yèvre, some 230 kms directly south of Paris. Following this acquisition, Extendam and Alboran plan to optimise revenue management, reduce structural costs, enhance portfolio synergies, and modernise selected assets.
SomnOO acquires 123 IM’s shares in six French hotels
French owner-operator SomnOO has acquired the shares held by its partner-investor, French real estate management company 123 Investment Managers, in six hotels in France. The portfolio, all under Ibis and Ibis Budget franchises, include the three-star, 87-room Ibis Toulouse Purpan, the three-star, 56-room Ibis Agen Centre, the two-star, 68-room Ibis Budget Agen, the two-star, 64-room Ibis Budget Roanne, the two-star, 64-room Ibis Budget Boulogne-sur-Mer Centre Les Ports, the two-star, 58-room Ibis Budget Lons-Le-Saunier. All hotels include coworking space and/or meeting rooms.
LBO acquires three hotels in France from Eternam
French private equity firm LBO France has acquired a portfolio of three hotels (150 rooms) in France from French investment firm Eternam. All four-star hotels under the HappyCulture brand, the portfolio includes the 61-room Hotel de l’Europe by HappyCulture in Strasbourg, the 46-room Villa Bougainville by HappyCulture in Nice and the 43-room Hotel Innes by HappyCulture in Toulouse. All three hotels were recently renovated and are situated in city centre locations. French operator Honotel, owned by LBO France’s real estate fund, will continue to operate the hotels.
Myst Hotels acquires Careys Manor Hotel & SenSpa in England from Greenclose
Owner-operator Myst Hotels & Resorts, a subsidiary of Indian conglomerate SanRaj Group, has acquired the four-star, 77-room Careys Manor Hotel & SenSpa from British owner-operator Greenclose Hotels. The property is situated in Brockenhurst in the New Forest National Park, a thirty-minute drive southwest of Southampton. The hotel includes three restaurants, a spa and conference space. The new owners plan to further invest into the spa facilities.
Fattal acquires Leonardo Hotel Liverpool, UK
Leonardo Hotels, the European division of Israeli owner-operator Fattal Hotel Group, has acquired the four-star, 310-room Leonardo Hotel Liverpool, UK. The property is situated by the River Mersey, next to the Wheel of Liverpool and the M&S Bank Arena. The hotel includes a restaurant, bar and ten meeting rooms. Fattal already operated the hotel and this acquisition marks the group’s third lease buyback since Q4 2024.
SAS Ciné acquires Kyriad Prestige Perpignan from Extendam and Centaurus
French hotel investor SAS Ciné has acquired the four-star, 100-room Kyriad Prestige Perpignan Centre del Mon in Perpignan, France, from French investor Extendam and French hotel group Centaurus. The property is situated by the city center, adjacent to the central train station, and includes a lounge bar and five meeting rooms. The hotel is part of a mixed-use complex consisting of six buildings that include offices, shops, and a 700-space underground parking lot. Following this transaction, SAS Ciné’s portfolio consists of eight properties in the Mediterranean region.
German family office acquires Holiday Inn – the niu in Bremen from Peper & Söhne
A German family office has acquired the three-star, 153-room Holiday Inn – the niu, Crusoe Bremen Airport by IHG in Bremen, Germany, from German property developer Peper & Söhne. Peper & Söhne developed the hotel and opened it in 2020. The property is situated next to Bremen Airport and includes a breakfast restaurant, lounge and bar. German operator Novum Hospitality operates the hotel.
Idiliq Group acquires Pierre et Vacances Mallorca Cecilia Apartments from Elaia Investment Spain
Spanish owner-operator Idiliq Group has acquired the 129-apartment Pierre et Vacances Mallorca Cecilia Apartments in Mallorca, Spain, from Spanish real estate investment trust Elaia Investment Spain, SOCIMI, SA. The property includes a restaurant and a pool, and is situated in the island’s southeastern city of Portocolom, close to Cala Marcal beach. The resort is set to undergo a comprehensive refurbishment in the winter of 2025 and reopen in spring 2026 with a modernised design and enhanced service offerings.
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