ASHG (Alchemy Step Hotel Group) Completes Acquisition of Gresham Belson Hotel, Brussels
Gresham Belson Hotel to become part of Marriott Hotel Group
Alchemy Step Hotel Group (ASHG) is delighted to announce the successful acquisition of the Gresham Belson Hotel in Brussels, Belgium, effective as of November 1st, 2024. This acquisition further expands the company’s presence throughout Belgium, following the recent addition of eight hotels across key city destinations in Belgium in October 2024, with the portfolio now servicing business, MICE and leisure guests.
ASHG is an investment partnership between Alchemy Special Opportunities LLP and Step Partners GmbH, dedicated to investing in the European hotel sector.
The Gresham Belson Hotel boasts a prime location between Brussels Airport and the city centre, featuring 142 well-appointed rooms, modern meeting facilities, and convenient access to major transport links. This acquisition enhances Step Partners Europe's portfolio, which now includes a broad range of properties across Belgium.
With the inclusion of the Gresham Belson Hotel, Step Partners Europe now manages 14 properties in total across Belgium and Germany, including five hotels in Germany, further solidifying its presence in the European hospitality market. Following this acquisition, the Gresham Belson Hotel will be the second hotel in the portfolio to become a Tribute portfolio hotel - part of the Marriott Hotel Group.
In line with the ASHG operating model, the property will undergo a full refurbishment to improve services and facilities for guests. The overall rebrand is planned for Q4 2025 once the extensive refurbishment is complete.
The acquisition of the Gresham Belson Hotel is an exciting step forward for Step Partners Europe as we continue to build our presence in key European markets. This, along with our recent acquisition of eight prominent hotels in Belgium, is a testament to our commitment to growing our portfolio and delivering exceptional guest experiences. André Guettouche, Partner at Step Partners Europe
ASHG is actively pursuing further hotel investment opportunities across Europe as part of its long-term strategy to strengthen its portfolio of premium properties.
About Alchemy Step Hotel Group
Alchemy Step Hotel Group ("ASHG") is an investment platform focused on special situations in the hotel sector in Europe. The partnership was established in 2022 by Alchemy Special Opportunities LLP ("Alchemy") and Step Partners GmbH ("Step"). ASHG acquires single hotel assets and hotel portfolios in the two- to four-star category across Europe, with a focus on Germany, Benelux and neighboring EU countries. ASHG specialises in hotels that require repositioning, renovation and operational turnaround. www.ashg.eu
About Alchemy Partners
Alchemy is a European alternative asset management company founded in 1997. Through its private equity and special opportunities funds, Alchemy Partners has invested more than £5 billion in over 200 transactions since its inception and currently advises funds with approximately £2 billion in assets under management. www.alchemypartners.co.uk
About Step Partners
Step Partners is a hotel management and investment company focused on turnaround situations in the European market. Step works with institutional equity investors to acquire and manage hotels and hotel portfolios. Step aims to generate superior returns through the strategic, operational and financial repositioning of its hotels. www.step.partners
