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Europe Hotel Transactions Bulletin - Week Ending 29 January 2021 (January 29, 2021)

Starwood Capital acquires the Skt. Petri Hotel in Copenhagen

US private equity fund Starwood Capital has acquired the Skt. Petri Hotel in Copenhagen, Denmark from Strawberry Forever, part of Norwegian billionaire Petter Stordalen’s Strawberry Group, that also owns Nordic Choice Hotels. Located in the centre of Copenhagen, the 288-room hotel also includes approximately 4,500 sqm of leisure and retail space located on the ground floor of the hotel and is reported to have transacted for a price of €144 million (€500,000 per key). Post-acquisition, the hotel is set to be redeveloped, however, in the interim will continue to be managed by the Strawberry Hospitality Group.

Colony Capital and Johnny Ronan sell future Dalata Hotel in Dublin

Local developer Johnny Ronan and American private equity firm Colony Capital are understood to have agreed the sale of a 204-room Dalata Hotel in Dublin currently under construction. The hotel, which is set to be operated by the Dalata Hotel Group on a long-term lease contract subject to 5-year rent reviews linked to CPI, is located on Dublin´s docklands at Spencer Place, within a larger development that also includes Salesforce´s new 40,000 sqm headquarters. The hotel is expected to open within the next 12 months.

Hoteles Globales acquires the Hotel Don Paco in Mallorca, Spain

Balearic owner operator Hoteles Globales has acquired the 87-room Hotel Don Paco, in the Magaluf region of Mallorca in Spain, from another local hotel operator, Mar Hotels. The 3-star hotel is currently undergoing a full renovation, and is expected to reopen under the Lively Magaluf name. The property will be operated by Hoteles Globales, which operates over 10,000 beds across Spain.

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