Europe Hotel Transactions Bulletin - Week Ending 26 July 2019 (July 27, 2019)

Ability sells DoubleTree Cambridge to AJ Capital Partners 

UK property company Ability Group has sold the DoubleTree by Hilton Cambridge City Centre to Chicago-based Adventurous Journeys Capital Partners. The 148-room property, acquired in 2007 by Ability and rebranded as the first DoubleTree hotel outside of the Americas, will be operated under the current brand until the end of the year. The hotel will then undergo extensive renovations and is expected to debut as the Graduate Cambridge by summer 2020, as Graduate Hotels’ first property outside of the United States. The group currently operates 22 hotels in university towns across the US, with another ten scheduled to open by the end of next year (including the Cambridge property). 

Deutsche Finance and BCP Capital acquire the Central Hotel in Dublin 

The 130-year old Central Hotel in Dublin is being acquired by a subsidiary of Germany-based Deutsche Finance Group and Dublin-based joint-venture partner BCP Capital. The new owners are planning a major renovation which includes adding 42 guest rooms to the total room count, bringing the hotel’s inventory from 70 to 112 rooms. A central courtyard as well as the installation of a basement restaurant are also planned. Windward Management is being appointed as the new operator of the Central Hotel.


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