A summary of European hotel transactions provided by HVS
KSL Capital Partners acquires a majority stake in Sereno Hotels
US private equity firm KSL Capital Partners has acquired a majority stake in Italian luxury hotel group Sereno Hotels. The deal includes two hotels, the seasonal five star, 40-room il Sereno Hotel on Lake Como, Italy, and the five-star, 39-room Le Sereno Hotel on the Caribbean island of St. Barthelemy (St. Barts). The group also includes four private villas in close proximity to the hotels, with three villas on St. Barts and one on Lake Como with 19 rooms. Owner-operator Sereno Hotels was created over two decades ago by the Contreras family, who remain significant investors. The family acquired the St. Barts hotel in 2002, and the historic villa on Lake Como in 2016, opening the nearby hotel in the same year.
EXTENDAM, KEYS REIM and Outsite acquire the M. Ou. Co. Hotel in Porto, Portugal
EXTENDAM, French asset management company KEYS REIM and operator Outsite have acquired the four-star, 62-room M. Ou. Co. Hotel in Porto, Portugal, for an undisclosed price. The lifestyle concept, centred around music, features a 300-seat concert hall and also includes an outdoor swimming pool, coffee shop-bar hybrid and restaurant. Founded in 2015, operator Outsite will oversee the management of the hotel. The group is focused on the co-living and co-working space and operates over 50 assets globally. Keys REIM acquired a stake in Outsite in 2019.
East Coast Catering acquires the Crowne Plaza Dundalk in Ireland from Tifco
East Coast Catering Ireland has acquired the four-star, 129-room Crowne Plaza Dundalk in Ireland, for €11 million (€85,000 per room) from Irish Tifco Hotel Group. The hotel, located 80 kms north of Dublin near the border with Northern Island, includes F&B outlets, meeting facilities and a gym. Led by businessman Patrick O’Callaghan, this marks the second acquisition for East Coast Catering in Dundalk, with the first being the four-star, 113-room Fairways Hotel, which it paid €2.5 million for in 2015. The new owner has plans to upgrade the Crowne Plaza Dundalk and operate it as a sister hotel alongside the nearby Fairways Hotel.
City of Sindelfingen acquires Best Western Hotel Sindelfingen in Germany from Aroundtown
The City of Sindelfingen has acquired the four-star, 135-room Best Western Hotel Sindelfingen City in Sindelfingen, near Stuttgart in Germany, from real estate company Aroundtown, for use as refugee accommodation. The hotel is located in the centre of Sindelfingen city and is walking distance to Daimler and the Sterne Shopping Centre. The property is set to undergo a renovation and will welcome refugees in the near future.
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