Europe Hotel Transactions Bulletin - Week Ending 6 December 2019 (December 6, 2019)

Deka acquires four hotels in Venice Mestre from MTK  

German real estate fund Deka Immobilien has acquired a 749-room hotel portfolio in Venice’s Mestre region, on the Italian mainland opposite Venice, from Austrian developer MTK, for a reported price of approximately €200 million (€267,000 per room). The hotels opened in mid-2019  and include the 244-room Leonardo Royal Hotel Venice Mestre, the 175-room Staycity Venice Mestre, the 208-room 7 Days Premium Hotel Venice Mestre and the 122-room Wombat’s City Hostel Venice. Located adjacent to the Mestre railway station, all hotels were developed by the seller and are operated under 20-year lease contracts.

Starwood Capital sells Sofitel Budapest to Indotek 

Hungarian real estate investment firm Indotek Group, owned by local high-net-worth entrepreneur Daniel Jellinek, has been reported to be acquiring the Sofitel Budapest from US private equity group Starwood Capital for a reported price of €100 million (€277,000 per room). The 360-room hotel, operated by Accor under a long-term management agreement, is planned to undergo a substantial renovation, which the new owners will carry out by 2022. The sale comes two years after Starwood acquired the property from Accor through a sale-and-manage-back transaction for €75 million.

Genting sells the COMO Metropolitan Hotel, London to DTZ Investors  

London-based institutional investor DTZ Investors has acquired the freehold interest in the 144-room COMO Metropolitan Hotel from Malaysian casino owner Genting for over £70 million (£486,000 per room). The Park Lane property, which is leased to Singaporean operator COMO Hotels and Resorts, opened in 1997 as one of London’s first boutique hotels and also includes the first Nobu restaurant outside of the United States. Besides the hotel and the Nobu restaurant, the current transaction also includes the Colony Club Casino as well as nine residential apartments.

Atom Hoteles acquires the Hotel Senator Cadiz, Spain  

Madrid-based publicly traded real estate investment trust Atom Hoteles Socimi has acquired the 91-room Hotel Senator Cadiz in Spain, for €15 million (€165,000 per room) from Senator Hotels & Resorts founder José María Rossell Recasens. The hotel, which is located in the historic centre of Cadiz, will continue to be managed by Senator Hotels under a long-term lease agreement.

Hypovereinsbank sells Hilton Munich Park to Hines and Commerz Real 

A joint venture between Hines, a North American real estate investor, and Commerz Real, a German real estate fund, has entered into an agreement to acquire a 148,000 sqm mixed-use scheme in Munich known as the HVB Campus, including the 484-room Hilton Munich Park. The seller, Munich-based Hypovereinsbank, will remain a tenant in one of the offices within the campus, which besides the hotel also includes seven office buildings, a 10,800 sqm IT centre, a 2,300 sqm sports complex and parking spaces for 1,500 vehicles.


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Disclaimer: Information provided above has been gathered from various market sources. HVS has not independently verified the accuracy of the information provided. Interested parties should not rely on the information as statement of facts and are advised to make their own independent checks to verify the information provided. For further information, please feel free to contact HVS London.

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