GDF acquires Hilton Garden Inn Venice Mestre San Giuliano in Italy

Italian holding company Gruppo Della Frera (GDF) has acquired the four-star, 136-room Hilton Garden Inn Venice Mestre San Giuliano in Venice, Italy, for approximately €20 million (€147,000 per room) in an all-equity share deal. The hotel is located in the mainland area of Mestre, which connects to the island of Venice by road and rail across the Liberty Bridge in roughly 15 minutes. The property includes a restaurant and a spa area with a pool. GDF is said to have taken over the management of the hotel as part of its acquisition, which will remain under a franchise agreement with Hilton. 

Millemont Capital Partners acquires YOTEL Edinburgh from Starwood Capital

London-based property investment firm Millemont Capital Partners has acquired the 276-room YOTEL Edinburgh in Scotland, UK, from US private equity group Starwood Capital. Following the acquisition, UK-based operator Troo Hospitality is set to take over the management of the property, with the existing hotel management agreement with YOTEL is to be converted into a franchise agreement under a pre-existing right. Starwood Capital acquired a 30% stake in British chain Yotel in 2017 for £187 million, and has since invested in acquisition and conversions on behalf of the brand, including the subject property which was converted from an office building in 2019.

Grupo Hotelero Gargallo acquires Casa Lit Barcelona from Stoneweg and Bain

Barcelona-based hotel chain Grupo Hotelero Gargallo has acquired the four-star, 89-room Casa Lit Barcelona by Ona in the Catalan capital, Spain, from a joint-venture between Geneva-based real estate investor Stoneweg SA and American private equity firm Bain Capital. The hotel, located in the city-centre and built in 2010, includes a bar, restaurant and rooftop terrace with pool. The property was acquired by Stoneweg in 2022 for €20 million (€217,000 per room), after which it underwent a renovation programme and was rebranded under the Casa Lit by Ona brand. This acquisition marks Gargallo’s 20th hotel and 11th in Barcelona.

Extendam and partners acquire Hotel Navarra Brugge from Maertens family

French family-owned hotel operator Sohoma, investor Extendam and private equity firm 123 Investment Managers have acquired the four-star, 94-room Hotel Navarra Brugge in Bruges, Belgium, from the native Maertens family. The hotel is situated in the city’s historic UNESCO-listed centre, and includes a spa with pool, gym and meeting facilities for up to 50 attendees. Following the acquisition, the three partners are expected to undertake a light refurbishment programme in 2025, during which the asset will remain open. The hotel is said to be generating approximately €4 million in revenues with a GOP capture rate of roughly half that amount. This is Sohoma’s first acquisition outside of France, where the group presently operates some 70 hotels and generates over €200 million in group revenues. 

Avignon Capital divests Staybridge Suites the Hague Parliament aparthotel

London-based pan-European property investor Avignon Capital has sold the four-star, 101-room Staybridge Suites the Hague Parliament aparthotel in the Netherlands to an undisclosed private investment vehicle. The hotel, which opened in 2019 as the first Staybridge Suites in the Netherlands, is operated by Dutch Borealis Hotel Group and features room sizes between 25 and 40 sqm. Avignon Capital acquired the asset upon opening in 2019 for €16.2 million (€160,000 per room). Avignon Capital’s hospitality portfolio comprises assets such as the Hyatt Place Amsterdam Airport and the MEININGER Hotel Frankfurt/Main Airport.

Honotel acquires Theater Hotel Antwerp in Belgium

French hotel owner and operator Honotel, through its value-add Cap Hospitality IV fund, has acquired the four-star, 127-room Theater Hotel Antwerp in Belgium. The hotel is located in Antwerp’s old town and is within a 15-minute walk from the main train station. Upon acquisition, the hotel is set to have its common areas and select rooms renovated. It is to be rebranded under Honotel’s house brand HappyCulture, which counts 44 properties across 16 locations, 24 of which are four-star hotels and the rest three-star. Over its history, Honotel has completed some €700 million in transactions across 77 acquisitions and 36 disposals, with an average leverage rate of 53%.

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