A summary of European hotel transactions provided by HVS
EXTENDAM acquires the future Maison ELLE Amsterdam
French investor EXTENDAM has acquired the 31-room, four-star Park 6 Hotel in Amsterdam, the Netherlands, centrally-located on the edge of Vondelpark and close to the museum quarter. The property is to be converted into the Maison ELLE Amsterdam, due for completion by August 2023. Dutch hotel group Black Label Hospitality, founded in 2019, will operate the property. Debt finance has been provided by Dutch bank ABN Amro. This hotel marks the second for the Parisian Maison ELLE brand, with the first having opened in September 2022 in Paris's 17th arrondissement. The ELLE hospitality concept was created in a collaboration between Studio V, a subsidiary of Valencia-founded family hospitality group Valotel, and the French Lagardère group, owner of ELLE magazine. Black Label Hospitality currently operates four other hotels in the south of the Netherlands, including franchises with Hilton and Accor.
Audacia sells its minority stake in Le Damantin Paris Hotel & Spa to its founders
French private equity firm Audacia has sold its entire minority stake in the five-star 44-room Le Damantin Paris Hotel & Spa, through its Constellation II fund, to the hotel's founders Anne Foucher and Angel Mari. The luxury hotel opened in February 2019 and is located in Paris's 8th arrondissement opposite the river Seine, in close proximity to Avenue Montaigne and the Champs Elysées. The Constellation II fund was launched in 2018 by Audacia, who had helped to support the creation of the hotel with an initial fund launched in December 2016. Sitting within a converted 19th-century mansion house, the hotel project was conceptualised by owners Anne Foucher and Angel Mari.
Galliard and O'Shea acquire the Raithwaite Sandsend in Yorkshire, UK, from Maritime
A JV between UK-based property developers Galliard Homes and O'Shea Group has acquired the four-star 73-room Raithwaite Sandsend hotel in the seaside town of Whitby, North Yorkshire, UK, off a guide price of £12 million (£164,000 per room) from Maritime Capital. The 85-acre site has approved planning permission for a 30-room extension on the main building, as well as 190 holiday cottages, apartments, lodges and villas. Additionally, there is set to be a village square that will feature a variety of local retailers. There are currently spa facilities, a newly-opened Crab Shack and an in-house restaurant on the premises. UK-based wealth management company Maritime Capital acquired the asset in 2019.
Premier Inn acquires the Mercure Hotel Heilbronn in Germany from Investhotel
Premier Inn has acquired the four-star 136-room Mercure Hotel Heilbronn located in the centre of Heilbronn, Germany, north of Stuttgart, from Investhotel. The deal is due to complete by the end of April, after which the hotel, constructed in 2014, is set to be renovated through to the end of summer 2023, including increasing the room count to 140 and incorporating Premier Inn standards. The hotel will continue to be operated as a Mercure until renovation works commence. There are currently 46 Premier Inn hotels across Germany.
SOHOMA acquires the Best Western Hotel International in Annecy, France
French hotel group SOHOMA (Solanet Hospitality Management) has acquired the three-star 133-room Best Western Hotel International – Annecy, situated in the north of the French Alps some 40 kms south of Geneva. The property includes a restaurant, bar and spa. Founded by Jean Solanet nearly 40 years ago, SOHOMA currently manages 70 hotels (5,400 rooms) across France, including both franchised properties (Louvre Hotels, Accor, Marriott, Hilton and IHG) and independent hotels, including under the Orso brand.
Whiterock acquires future B&B Hotel Onnaing in France from Duval
French real estate group Whiterock has acquired the future 75-room B&B Hotel in Onnaing, northern France, from French family real estate office Groupe Duval. Located in the outskirts of Valenciennes, on a major road that connects Paris and Brussels, the hotel will be leased on a long term basis to B&B Hotels, a French third-party operator with over 700 hotels worldwide, half of which are in France. Whiterock specialises in sale-and-leaseback operations of which this is the fourth B&B Hotel lease for the group.
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