Europe Hotel Transactions Bulletin - Week Ending 23 August 2019 (August 23, 2019)

Travelodge Edinburgh Haymarket sold to UBS Asset Management 

UBS Asset Management has acquired the Travelodge Edinburgh Haymarket for £9.4 million (£129,000 per room) from a private investor, reflecting a net initial yield of 5.25%. The 73-room property, refurbished in 2013, will continue to be operated by Travelodge under a long-term lease agreement running until 2042.

CitizenM acquires a site in London Victoria 

Netherlands-based owner operator CitizenM has acquired a site at 292 Vauxhall Bridge Road, near London Victoria, to build a 226-room hotel.  The demolition of the existing building, the Denison House, will start in November 2019, with the opening due in 2021. The property will be CitizenM’s fourth hotel in the British capital, joining the CitizenM London Bankside, Tower of London and Shoreditch.

Nordic Choice Hotels to acquire Finnish Kämp Collection from CapMan 

One of Scandinavia’s largest hotel chains, Nordic Choice Hotels, is acquiring Finnish luxury hotel chain Kämp Collection Hotels, from Helsinki-based private equity group CapMan. The portfolio consists of 10 trading hotels with a total of over 1,400 rooms and an eleventh property opening in 2023 in Espoo, Finland’s second largest city. Kämp Collection Hotels is joining Nordic Choice’s portfolio of over 190 hotels totalling more than 34,000 rooms across the Nordics and the Baltics.

Stelios Haji-Ioannou loses fight for Easyhotel 

Easy Group founder Sir Stelios Haji-Ioannou has lost his fight to block the takeover of easyHotel, in a battle with a consortium between Canadian pension fund Ivanhoe Cambridge and Luxembourg fund ICAMAP. In recent weeks Sir Stelios has tried to increase his stake in the publicly traded company, but the consortium gained control of 50% this week, thwarting Sir Stelios’ attempts to block the takeover which values the hotel group of 12 owned, and 24 franchised properties at £139 million.


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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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