Blackstone acquires the Cascade Wellness Resort in Lagos, Portugal, from Fliptrel

Blackstone, through its Luxembourg-based subsidiary Magma Pledgeco, has acquired the five-star, 164-room (including apartments) Cascade Wellness Resort in Portugal from Fliptrel Portugal, for a reported €50 million (€305,000 per room). The deal encompassed the acquisition of 100% of the shares of two companies, Cascadeinvest and Sunseasand. The resort is located in Lagos on the south coast of Portugal, and is close to Dona Ana Beach. The resort complex, which reopened in 2019 after a €6 million refurbishment programme, includes three restaurants, two bars, three pools, a spa, meeting facilities with a 500-person capacity, kid’s club, two tennis courts and a gym. The property is set to be managed by Blackstone’s pan-European resort platform, Hotel Investment Partners (HIP), which currently has 73 hotels in its portfolio.

Dalata to acquire the Hard Rock Hotel Amsterdam American operating lease from Zien

Ireland’s largest hotel operator, Dalata Hotel Group, has reportedly agreed a deal to acquire all the shares of American Hotel Exploitatie, the entity that owns the operating leasehold of the four-star, 173-room Hard Rock Hotel Amsterdam American. The seller is Dutch hotel owner-operator Zien Group. The hotel is situated on Leisesplein Square in the centre of Amsterdam, the Netherlands, and is set to open as the Clayton Hotel Amsterdam American once the deal is finalised. Contracts are expected to be exchanged and completed in early October. Dalata has a strong portfolio in the UK and Ireland, and this deal will mark the group’s second hotel in continental Europe and first in the Netherlands.

Extendam and Atalante Hotels acquire two-property portfolio in Belgium

Paris-based investment company Extendam has acquired two Belgian properties: the 122-room Novotel Mechelen Centrum and the 92-room ibis Namur, in a joint venture with French owner operator Atalante Hotels, for an undisclosed sum. With this latest acquisition, Extendam and Atalante are inaugurating a new partnership, under which Atalante will operate these two assets. The four-star Novotel Mechelen Centrum is located in downtown Mechelen, situated between Antwerp and Brussels, and is set to have its common areas reorganised and renovated. The also centrally located ibis property in Namur, a town near Charleroi in southern Belgium, will undergo a major renovation.

Wirtgen Invest acquires the future Motel One in Munich from CONCRETE Capital

German family office Wirtgen Invest has agreed a deal to acquire a 269-room Motel One being constructed in Munich, Germany, from German developer CONCRETE Capital. The 10,000 sqm hotel is being developed on a 2,000 sqm site at Schillerstrasse 3 in Munich’s city centre, and is expected to complete and open in the first quarter of 2025. The sustainability-focused building will also include ten staff accommodation apartments.

Stig Svedberg acquires Best Western SöderH Söderhamn in Sweden from Oscar

Swedish real estate investor Stig Svedberg, through his company Tvättbjörnen Fastigheter, has acquired a property containing the Best Western Hotel SöderH in Söderhamn, a coastal town in Sweden, some 200km north of Stockholm, from Swedish property company Oscar Properties. The price was not disclosed. The four-star hotel features 85 rooms, a restaurant, two meeting rooms and an indoor pool, and will continue its operation as a hotel following the acquisition. The building, set to undergo renovations, is centrally located about 300 metres from the town’s main station.

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