Turkish private equity firm BLG Capital has sold its stake in the five-star, 177-room Peninsula Istanbul as part of the Galataport Istanbul development in Turkey, to the Turkish conglomerate Dogus Group. The transaction values Galataport at $2.2 billion. The hotel is located in the Karaköy district of Istanbul, just a 10-minute walk from the Galataport Istanbul mixed-use development on the Bosphorus waterfront. Opened in 2023, the Peninsula received the One To Watch Award in September this year, ahead of The World's 50 Best Hotels awards 2024. The hotel features three restaurants, seven event venues and a full-service spa. BLG is presently eyeing new deals across Italy and in Milan, as it aims to distance itself from the high interest rate environment of Turkey.

 

Irish hotel owner operator Dalata Hotel Group has entered an agreement to acquire the four-star, 229-room Radisson Blu Hotel, Dublin Airport in Ireland, from an affiliate of Emerald Investment, for €83 million (€362,400 per room). Currently operated by Windward Management, the property is held on a ground lease with 107 years remaining. The deal is due to close in the first half of 2025, with Dalata planning to rebrand the hotel as a Clayton Hotel. The property was extensively refurbished in 2019 and holds two substantial planning approvals, which Dalata views as promising for future development opportunities. The Maldron Hotel Dublin Airport, located directly opposite, is also currently operated by Dalata, though its operating licence is set to expire in January 2026.

 

Emaar acquires Grand Hotel Imperiale Forte Dei Marmi in Italy

UAE-based real estate company Emaar Properties has acquired the five-star, 46-room Grand Hotel Imperiale Forte Dei Marmi from Russian Luxury Hotel Development Group for €40 million (€869,600 per room). The hotel is situated a short walk from the beach in the northern Tuscany seaside town of Forte Dei Marmi, 30-minutes drive north of Pisa Airport. The property features a full-service spa, meeting facilities and a beach club. Emaar Properties’ subsidiary, Emaar Hospitality, owns and manages 37 hotels under various brands, including Vida Hotels and Resorts, Address Hotels + Resorts, Armani Hotels and Rove Hotels (JV with Meraas).

 

Iremis acquires Pullman Newa Hotel in Dresden from Covivio

Luxembourg-based real estate investment manager Iremis has acquired the four-star, 319-room Pullman Dresden Newa in Dresden, Germany, from Covivio Hotels, a subsidiary of French real estate investor Covivio, for €30.5 million (€95,600 per room). The hotel is situated in Dresden’s Old Town, just a five-minute walk from the central train station. The property will undergo substantial renovations and be operated under a long-term lease by Barceló Hotel Group, initially under Barcelo’s Occidental brand and then under the Barceló Hotels & Resort brand once the renovation is completed. Iremis carried out this transaction on behalf of its Iremis Hotel Real Estate Fund I, marking the fund's first acquisition.

 

SCPI Novaxia Neo acquires Amedia Hotel in Dresden, Germany

SCPI Novaxia Neo, the French investment vehicle of real estate investor Novaxia Investissement, has acquired the three-star, 103-room Amedia Hotel Dresden Elbpromenade in Dresden, Germany, for €8.4 million (€81,600 per room). The property is leased to HR Group under a long-term lease of at least 15 years, and the sale reportedly represents an initial yield of 7.6%. The hotel recently underwent renovation and is located in the west of Dresden, close to the Elbe river. It includes a restaurant, bar, wellness area, and six meeting rooms.

 

European private equity firm ActivumSG, together with American real estate investment firm Global Hospitality Investment Group (GHIG), has acquired a hotel-led, mixed-use asset which includes the three-star, 99-room Ibis London Sutton Point and the four-star, 59-room Aparthotel Adagio London Sutton Point in London, for £21 million. Sutton Point, which is adjacent to the Sutton train station some 20 kms south of the centre of London, was developed in 2019/20. On closing of this transaction, the non-hospitality components of the scheme were sold through a series of back-to-back transactions, while the two hotels were retained. The retained hospitality assets were financed with a senior loan from Leumi UK. This is ActivumSG’s first hospitality-related investment in the UK.

 

UK-based REIT Landsec has acquired the three-star, 218-room Premier Inn Manchester Salford Media City hotel in Manchester, UK, from British property investor Peel Group. The hotel is part of an £83 million deal that includes the remaining 25% interest in MediaCity, as well as the television facility dock10. In 2021, Landsec acquired a 75% stake in the scheme for £426.5 million. MediaCity is a 52-acre, mixed-use development that houses major companies such as BBC North and Kellogg's. The hotel is situated in MediaCity, just a ten-minute walk from the Quays and close to Old Trafford. The acquisition reportedly involves a cash payment of £22 million and the assumption of £61 million in secured debt.

 

Warimpex exits Russia with sale of Airportcity Plaza St. Petersburg

Austrian real estate developer Warimpex Finanz- und Beteiligungs AG has sold AIRPORTCITY in St. Petersburg, Russia to a Russian buyer. The property includes the four-star, 294-room Airportcity Plaza St. Petersburg, three office properties, a multifunctional building and land reserves. AIRPORTCITY is a business centre situated adjacent to St. Petersburg’s Pulkovo Airport. This transaction marks Warimpex’s exit from Russia, driven by the impact of Russia’s invasion of Ukraine, as the company now plans to pursue projects in Poland and Germany.

 

Frankfurt-based hotel investment company Alchemy Step Hotel Group (ASHG), a joint venture between British private equity firm Alchemy Special Opportunities LLP and German owner-operator Step Partners GmbH, has acquired the four-star, 142-room Gresham Belson Hotel Brussels in Belgium. The hotel is situated between Brussels’ city centre and airport. The property will undergo major refurbishment, with rebranding as a Tribute Portfolio hotel planned for the fourth quarter of 2025. With this acquisition, ASHG’s portfolio now comprises 14 hotels with over 1,800 rooms across Belgium and Germany.

 

Czech investor acquires The Julius Prague from S Immo AG

Austrian real estate investor S Immo AG has sold the five-star, 168-room The Julius Prague, Czech Republic, to a Czech investor. The hotel is situated between Prague’s Old Town and the central train station, just a ten-minute walk to either. The mixed-use property also includes approximately 1,500 sqm of fitness centre space and 1,500 sqm of retail space. Following this transaction, S Immo AG now controls four hotels across Europe.

 

An investment charity has acquired the three-star, 165-room Premier Inn Liverpool City Centre (Moorfields) hotel in Liverpool, UK, from UK real estate investment firm Aprirose, which had owned the hotel since 2014. The property, which is subject to a very long-term lease to Premier Inn, is situated in central Liverpool close to the Moorfields and Lime Street stations. Aprirose’s portfolio includes properties in London, Manchester and Reading, and last year it acquired a 50% stake in Z Hotels.

 

Corum acquires TRIBE Milan Malpensa in Italy from ForumInvest

French institutional investor CORUM Asset Management has acquired the newly-built, 240-room TRIBE Milan Malpensa in Italy from Dutch developer ForumInvest. The four-star hotel opened in February 2024 and is situated adjacent to the international terminal of Milan Malpensa Airport, Italy’s second busiest airport after Rome Fiumicino. The full-service hotel features a rooftop bar and a swimming pool. The property is fully leased to Italian Amapa Group for an initial 30-year term. ForumInvest is also currently building a five-star ultra-luxury hotel with 102 rooms by Lake Como, Italy.

 

LFPI acquires Le Yachtman hotel in La Rochelle, France

French asset manager LFPI, together with a group of private investors, has acquired the four-star, 46-room Le Yachtman, The Originals Collection in La Rochelle, France. French chef Jacques Le Divellec owned and operated the property for several decades. The hotel is situated in the historic centre of La Rochelle, just a five-minute walk from the Old Port on the Atlantic coastline and a two-hour drive from Bordeaux. The property will undergo refurbishment to expand from 46 to 51 rooms, modernise common areas and rooms, and transform into a boutique hotel. LFPI’s subsidiary LFPI Hôtels Gestion is set to operate Le Yachtman after reopening.

 

Santareim Partners acquires Hôtel Comté de Nice in France

French hospitality investor Santareim Partners has acquired the three-star, 32-room Hôtel Comté de Nice in Beaulieu-sur-Mer, France. The hotel is located just a five-minute walk from the Mediterranean coast and is a 25-minute drive from Nice, adjacent to Saint-Jean-Cap-Ferrat. The hotel is expected to temporarily close for renovations, and is set to reopen in March 2025. The works will involve redeveloping the common areas, whilst also modernising the rooms and converting two large studios on the ground floor into four separate hotel units. This is Santareim Partner’s first acquisition. The group targets three-star assets with high value-add potential, and is aiming to create a portfolio of roughly 12 assets within the next three years.

 

Aspire Hotel Group acquires AcarA Penthouse Hotel in Oldenburg, Germany

German hotel developer and operator Aspire Hotel Group has acquired the three-star, 62-room AcarA das Penthouse Hotel in Oldenburg, in the north-east of Germany. The hotel is situated in central Oldenburg, a 10-minute walk from the main train station. The property is set to undergo refurbishment, including upgraded facilities, enhanced amenities, and a rebranding to Wyndham’s Trademark Collection. Aspire, founded in 2018, has expanded its portfolio to 11 hotels across the DACH region with this latest acquisition.