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HVS Europe Resort Transactions Bulletin Week Ending 15 March 2024






  • ASG sells Hilton Barcelona Fira Gran Through in Barcelona, Spain   

A abstract of European resort transactions supplied by HVS

CPIPG sells 50% stake in eight Czech inns to Greatest Resort Properties
Czech actual property funding agency CPI Property Group (CPIPG) has shaped a three way partnership settlement with Slovakian firm Greatest Resort Properties, promoting a 50% stake in its subsidiary that owns a portfolio of eight inns within the Czech Republic, for roughly €173 million, valuing the entity at €347 million. The transaction additionally included the working firm CPI Accommodations A.S., which is predicted to stay the inns’ operator. The belongings throughout the portfolio embrace the Clarion Congress Resort Prague, the Mamaison Residence Downtown Prague and the Consolation Resort Prague Metropolis East. CPIPG is predicted to make use of the proceeds from this transaction to service debt. CPIPG’s portfolio primarily consists of Czech, German and Polish actual property belongings which totalled €20.3 billion as of Q3 2023 and of which inns represented roughly 5% on the time.

BG Accommodations sells BG Portinatx Seashore Membership Resort in Ibiza to Spanish resort household
Balearic resort chain BG Accommodations has bought the four-star, 243-room BG Portinatx Seashore Membership Resort on the island of Ibiza, Spain, to an undisclosed Spanish household, who reportedly personal worldwide resort companies. The transaction closed for a reported €60 million (€247,000 per room). The all-inclusive resort is positioned on the northern coast of the Balearic Island roughly 35 kilometres from its worldwide airport. The resort closed in This autumn 2023 to begin renovations, which aimed to enhance the asset to 5 stars, though weren’t commenced underneath BG’s possession, with the brand new homeowners anticipated to hold them out and reposition the asset. Following the sale, BG’s portfolio spans six inns throughout the Balearics, in Ibiza and Mallorca.

ASG sells Hampton by Hilton in Barcelona to UK household workplace
Berlin-based non-public fairness agency ActivumSG (ASG) has bought the three-star, 241-room Hampton by Hilton Barcelona Fira Gran Through in Barcelona, Spain, to an undisclosed British household workplace for €50 million (€207,000 per room). The resort is positioned within the southwest of Barcelona, in shut proximity to the Fira conference centre, which attracted roughly 200,000 guests in 2023. The resort opened in 2021 and reportedly price ASG some €40 million to develop. Upon opening, ASG signed a franchise settlement with Hilton and a long-term working lease with Dutch white label operator Borealis Resort Group. ASG has raised 4 funds so far which might be devoted to actual property alternatives in Germany and Spain. The 4 whole almost €880 million and are nearing full allocation.

Millennium REIT sells Resort Eurostars Lucentum in Spain
Spanish REIT Millenium Hospitality Actual Property has bought the four-star, 169-room Resort Eurostars Lucentum in Alicante, Spain, for €29.9 million (€177,000 per room), to an undisclosed purchaser. The asset, which is positioned within the metropolis centre of Alicante, was acquired by Millenium in 2018 and was initially constructed because the headquarters of the Financial institution of Alicante, later absorbed by BBVA financial institution. The resort, which features a health club and sauna, 5 assembly rooms and a breakfast buffet, is operated by Spain’s Hotusa Group underneath its Eurostars model by way of a fixed-rent settlement till 2025 and a hard and fast and variable lease settlement from there onwards. In accordance with Millenium, this transaction has generated capital positive factors in extra of €7 million, exceeding the REIT’s goal.

HVS is the world’s main consulting and valuation providers group centered on the resort, restaurant, shared possession, gaming, and leisure industries. Established in 1980, the corporate performs greater than 4,500 assignments per 12 months for nearly each main business participant. HVS principals are thought to be the main professionals of their respective areas of the globe. By way of a worldwide community of over 50 workplaces staffed by 300 skilled business professionals, HVS offers an unparalleled vary of complementary providers for the hospitality business. For additional data relating to our experience and specifics about our providers, please go to www.hvs.com.

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