Europe Hotel Transactions Bulletin - Week Ending 04 August 2023
Perial Asset Management acquires hotel in Paris St Ouen
Perial Asset Management, on behalf of its SCPI PF Grand Paris, has acquired a three-star, 129-room hotel in Paris St Ouen for an undisclosed sum. Built in 2015, the hotel is located near the town hall and metro station in Saint-Ouen, to the north of central Paris. Perial intends to increase the room count to 145 by repurposing some of the property’s existing office space, and has entered into a fixed term 12-year lease with B&B Hotels group. Majority-owned by investment company Goldman Sachs, B&B is a hotel group active in the budget and economy sector with over 600 hotels (52,000 rooms) across 14 countries, primarily in Europe.
Fragrance acquires the Grand Atlantic Hotel in the UK from Coast & Country Hotels
Singaporean-based Fragrance Group has acquired the four-star, 72-room Grand Atlantic Hotel in Weston-super-Mare, about 35 kms from Bristol in the south-west of England, for an undisclosed sum, from UK hotel group Coast & Country. The beachfront hotel offers panoramic views of the Bristol Channel and includes a restaurant, bar and event facilities. The Grand Atlantic is among 33 properties that Coast & Country put up for sale in May this year. RBH Hospitality Management, already operators of ten hotels owned by Fragrance Group, have also been appointed to operate the Grand Atlantic.
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