Europe Hotel Transactions Bulletin - Week Ending 26 April 2024

Travelodge acquires six Spanish hotels from Louvre

British hotel owner-operator Travelodge, through Spanish subsidiaries, has acquired six hotels totalling 773 rooms across Spain from French hospitality firm Louvre Hotels Group. The assets are presently branded under the Hotel Campanile brand, and are located in Madrid, Barcelona, Alicante, Murcia and Malaga. Travelodge, whose portfolio now comprises over 600 hotels and 46,000 bedrooms across the UK, Ireland and Spain, has doubled its number of hotels in Spain through this acquisition, already owning three hotels in Madrid, two in Barcelona and one in Valencia. The acquisition consists of five freehold properties and one long leasehold asset. This transaction comes after Travelodge acquired a 66-hotel UK Travelodge portfolio in January 2024 from its largest landlord, LXi REIT, as reported in this newsletter.

Barcelo acquires Quinta das Vistas Palace Gardens in Madeira

Spanish tourism firm Barcelo Group has acquired the five-star, 71-room Quinta Das Vistas Palace Gardens hotel in Funchal on the island of Madeira, Portugal. The Quinta das Vistas Palace Gardens is set to undergo a major refurbishment and reopen under Barcelo’s five-star Royal Hideaway Luxury Hotels & Resorts brand in 2026. In addition to this acquisition, the group also announced it will develop a new hotel in the historic centre of Funchal, expected to complete in Q4 2025 and open under the group’s four-star Occidental Hotels & Resorts flag. Together, the investment into the two properties totals approximately €50 million. With these openings, the group’s overall presence on the island will increase to four properties, with its total portfolio comprising over 200 hotels with 62,000 rooms across 25 countries.

The July acquires former Holiday Inn Amsterdam South from Invesco

Amsterdam-based aparthotel chain The July has acquired the former four-star, 264-room Holiday Inn Amsterdam South from US global investment manager Invesco Real Estate. The building is located in southern Amsterdam near the Zuidas business district, the city's “financial mile”. The hotel is set to be converted into a full-service aparthotel, simultaneously improving the asset’s environmental impact by targeting a BREEAM certification. This acquisition marks the chain’s seventh property, with three open aparthotels in Amsterdam and four under development in London, Dublin, Lisbon and Amsterdam. Formerly known as City ID prior to its rebrand in November 2023, The July is owned by Dutch pension provider APG and Australian superannuation fund Aware Super. HVS advised the purchaser.

Extendam acquires Mercure Hotel Den Haag Central in the Netherlands

French hospitality private equity group Extendam has acquired its fourth hotel in the Netherlands, the four-star, 159-room Mercure Hotel Den Haag Central in The Hague, Netherlands, from an undisclosed seller. The hotel is located in the city centre of The Hague, a ten minute walk from the central train station, and was constructed in the 1980s. Last renovated in 2007, the property offers a standard guest room size of 25 sqm. Extendam is expected to fully renovate and reposition the hotel under a lifestyle brand with a new F&B offer, and have retained Paris-based Capital Hospitality Europe (CHE) in an asset management capacity to lead the transformation, including a high-level ESG certification.