Hotel Transaction Bulletin HVS Europe

Azora acquires the Pestana Blue Alvor in Portugal from the Pestana Group

Madrid-based European private equity property manager Azora, through its Azora European Hotel & Lodging FCR fund, has acquired the 491-room Pestana Blue Alvor, in the Algarve, on the southern coast of Portugal, from the group Portuguese Pestana, for an undisclosed amount. The five-star, all-inclusive resort spans 120,000 square meters and features four restaurants and two bars, six indoor and outdoor pools, a fitness center and a spa. Pestana will be retained as the operator of the asset. This is the fourth five-star resort in the Algarve that Azora has acquired, the other three being: the 384-bed Tivoli Marina Vilamoura, the 248-bed Tivoli Carvoeiro and the 118-bed Vilalara Thalassa Resort.

Tristan Capital Partners acquires QO Hotel Amsterdam from CBRE Global Investors

London-based Tristan Capital Partners, through its European Property Investors Special Opportunities 5 (EPISO 5) fund, has acquired the QO Hotel in Amsterdam from CBRE Global Investment Partners for €92.1 million (€320,000 per room). The 288-room, four-star hotel was one of the first hotels in Europe to achieve LEED Platinum status, with a high-tech rooftop greenhouse, living facade and 1,600 fully responsive thermal panels that adapt and react to outdoor climates. The asset will be renamed Ruby Emma Hotel & Bar, Amsterdam, by Germany’s Ruby Group, which will operate and lease the hotel. Located in the Amstelkwartier, the 23-storey hotel was acquired in 2018 by CBRE GIP. HVS advised the recent transaction.

Marrico and Helios secure financing deal with UK Commercial Property REIT for new hotel in Leeds, UK

Two UK-based property developers, Marrico Asset Management and Helios Real Estate, have entered into a term financing agreement for a hotel development scheme in central Leeds, northern England, with UK Commercial Property REIT , worth £62.7million. The 301-room property, located on Sovereign Square next to Leeds main train station, will span 12 floors and is expected to be completed in 2024. A deal has been struck with Interstate to operate the hotel under a Hyatt-branded flag .

Bâloise acquires the new Brussels hotel from the consortium led by Cores Development

Swiss insurer Bâloise has acquired a mixed-use development in Brussels, Belgium, comprising a 212-room hotel component, from a consortium of developers comprising Cores Development (50%), Urbicoon (25%), Foresite ( 20%) and Ape (5%), for an announced amount of around 160 million euros. The hotel will include a 300-seat auditorium, meeting spaces, a restaurant and a bar. Brussels-based Limited Edition Hotels will operate the hotel, which will occupy three levels of the multi-storey building. The development will also include coworking spaces, a fitness and wellness center and 21,000 square meters of office space already leased to various “high quality” tenants.

12.18. acquires the TOP Hotel Hochgurgl in Austrian Tyrol from the Scheiber family

Düsseldorf-based investment manager 12.18. acquired the five-star TOP Hotel Hochgurgl, Tyrol, Austria, from the Scheiber family, for an undisclosed sum. The five-star, 95-room alpine ski resort is located some 2,200 meters above sea level, with direct access to the ski slopes. The multi-award-winning property has extensive dining facilities and a spa that spans two floors, with indoor and outdoor pools. The last acquisition of 12.18. for its Hotel Collection portfolio now includes ten properties, with TOP Hotel Hochgurgl being the collection’s first ski resort. The asset will be mined by 12.18. via a joint venture with 12.18. Asset Management GmbH, retaining the name TOP Hotel Hochgurgl.

Dalata sells Clayton Crown Hotel in London

Dublin-based hotel group Dalata has sold the Clayton Crown Hotel in north London to a company controlled by UK-based AG Hotels for £21million (£138,000 per room). The 152-room, four-star property was acquired by the Irish hotel group in 2015 as part of the Moran Bewley deal. The new transaction is expected to close by the end of June. The asset is being sold by Dalata as part of the group’s strategy to refocus its portfolio on city center properties. The hotel includes a restaurant and bar, and four meeting rooms.

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