Industry News
December 7, 20234 min read

Europe Hotel Transactions Bulletin - Week Ending 01 December 2023

Finance Partnerships, Mergers & Acquisitions

Arrow Global acquires Palmares resort in Portugal from King Street and Kronos

European fund manager Arrow Global Group, via managed funds, has acquired the luxury mixed-use development Palmares Ocean Living & Golf in Lagos, the Algarve in Portugal, for a reported €115 million. The seller is a joint venture between King Street Capital Management and Spanish developer Kronos Homes, who jointly acquired the golf course and surrounding land in 2017, and then in 2019 secured a masterplan for the 200-hectare site to develop 357 residential apartments, 103 luxury villas and a 152-room hotel (in addition to an existing 20-room hotel). As well as a new golf clubhouse with two restaurants, more than 80 apartments have since been developed, with a second phase currently under construction. In addition, 60% of the land designated for villas has been sold.

Amixalan acquires the Sercotel Rosaleda Malága hotel in Spain from Activ-Group

Spanish investor Amixalan has acquired the four-star, 150-room Sercotel Rosaleda Malága hotel in the neighbourhood of Martiricos, Malága, Spain, from developer Activ-Group, who commenced the project in early 2020. Located next to the Rosaleda shopping centre and in close proximity to La Rosaleda stadium, the hotel is leased to operator Sercotel Hotel Group, which is owned by Landon, part of the Barcelona-based Gallardo Family Group, and has over 100 three- and four-star urban hotels across Spain and Andorra. The subject property includes a swimming pool, event facilities and a restaurant. Amixalan, led by its principal Xabier Blanco Platero, acquired the property through its subsidiary Amixa Capital.

Redman Hospitality acquires future Holiday Inn Express in Paris from AKERA

French hotel operator Redman Hospitality, in partnership with Extendam, la Banque des Territoires and Anaxago, has acquired the future 101-room Holiday Inn Express in Poissy, some 30 kms north-west of the centre of Paris, from French developer AKERA. The price was undisclosed. This acquisition will mark the fifth hotel in Redman’s portfolio. The hotel is part of a mixed-use development being undertaken by AKERA in co-promotion with Semap78, that will also include 76 housing units, a bakery and a nursery. The hotel will include a bar, meeting room and 34 underground car parking spaces.

Vicartem and Extendam acquire Hôtel Amiral in Nantes, France

Vicartem and Extendam acquire their fourth asset in their JV with the Hôtel Amiral in the centre of Nantes, France. Both the price and seller were not disclosed. The 49-room property is to be renovated and repositioned as a three-star boutique lifestyle hotel, scheduled to reopen some time in 2024 as the Hôtel Billie. The asset will be operated by Rennes-based Younight Hospitality, Vicartem’s hotel management arm. The hotel is located in the centre of Nantes, in close proximity to Place Graslin, Place Royale, Passage Pommeraye and the main shopping streets.

Unike Hoteller acquires Roemskog Spa & Resort in Norway from Bakkegruppen

Norwegian hotel chain Unike Hoteller has acquired the four-star, 44-room Roemskog Spa & Resort in Roemskog, Norway, from Bakkegruppen AS, for an undisclosed amount. The property is located in south-eastern Norway on one of the municipalities 100 lakes’ shore, and is a 90-minute drive from Oslo. Unike Hoteller classifies itself as an exclusive hotel chain, and this latest addition brings its total number of properties to 15 across Norway. The subject property was built in 2008 for some NOK 150 million (€18 million).

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