ADIA acquires two hotel portfolios in Spain in partnership with Petra and Meliá Hotels

Abu Dhabi Investment Authority (ADIA) has acquired two hotel portfolios, totalling 24 assets (4,918 rooms) across Spain, for a total investment sum of €800 million (€163,000 per room), which is also said to include an amount dedicated to upgrading the hotels. As part of the acquisition, ADIA has launched a new platform with newly created asset manager Petra, founded by former Covivio alumni Dominique Ozanne, Gael Le Lay and Elsa Tobelem (who will also continue to manage their Hova Hospitality vehicle which they created in 2021 to acquire leased hotels). Petra will be the dedicated asset manager for the 24 hotels, all of which will be operated by Meliá Hotels. The first portfolio, which includes 17 hotels totalling 2,587 rooms in 11 cities, was acquired from Equity Inmuebles, which is majority-owned by the Calero, Briones and Mazin families. The portfolio includes properties under the ME, Melia, Tryp and Sol brands, with six hotels in Madrid and eight resort properties, plus five other city locations. The second portfolio includes seven hotels and a beach club, all located in Mallorca, with ADIA acquiring a 51% interest from American private equity firm Avenue Capital, and Meliá retaining its existing 49% stake. The hotels total 2,331 rooms, under the Meliá and Sol brands.

Orange and Annexum acquire two hotels in Rotterdam, the Netherlands, from Inntel

Dutch investment managers Orange IM and Annexum have acquired two hotels (480 rooms) in Rotterdam, the Netherlands, from Dutch hotel group Inntel Hotels: the four-star, 265-room Inntel Rotterdam Centre and the five-star, 215-room Mainport Hotel. The two hotels sit within the same building complex. Orange IM will oversee the asset management of the portfolio and the hotels will be managed by Cycas Hospitality. The acquisition was co-financed by a loan facility from ABN-AMRO.

FONDSGRUND acquires Holiday Inn Mannheim City in Germany from Adler

Hamburg-based investment firm FONDSGRUND Investment has entered an agreement to acquire, on behalf of a group of German institutional investors, the recently developed mixed-use complex “No. 1” in Mannheim, which includes offices and the four-star, 150-room Holiday Inn Mannheim City - Hauptbahnhof, totalling a reported €70 million. The seller was a subsidiary of Adler Group, a Luxembourg-based real estate company that specialises in developing multi-family residential properties in Germany. The complex is located adjacent to Mannheim’s main railway station, approximately an hour’s drive south of Frankfurt.

NUMA Group acquires former hotel in Paris to convert to a NUMA Paris

Boutique aparthotel and hotel operator NUMA Group has acquired a former 40-room hotel in east Paris. The property is situated between the Canal Saint-Martin and Parc des Buttes Chaumont, close to the Gare du Nord and Gare de l’Est railway stations. The group is expected to open its first Parisian property in this former hotel in summer 2024. NUMA’s portfolio of 65 properties spans 27 European cities and over 4,500 units. The group is looking to expand to 12 French cities in central locations within cities like Bordeaux, Cannes, Lille, Marseille and Nice.

Starboard Hotels acquires The Bridge Hotel in West London

UK-based hotel owner-operator Starboard Hotels has acquired the three-star, 68-room The Bridge Hotel located in Greenford, off the A40 Western Avenue in west London, the UK. The acquisition was completed with financing from OakNorth Bank following a seven-year refinancing deal that covers 18 of Starboard’s 21 hotels. The Bridge hotel and pub hybrid marks the group’s second London property following its four-star, 162-room Hampton by Hilton London Park Royal acquisition in 2018. Starboard Hotels’ portfolio includes around 2,000 mainly budget rooms across the UK, most under franchise arrangements with Accor (Ibis) and IHG (Holiday Inn). 

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