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HVS Europe Resort Transactions Bulletin Week Ending 9 February 2024




  • HVS Europe Resort Transactions Bulletin Week Ending 9 February 2024


    Sono acquires Resort Dame des Arts in Paris from TPG Angelo Gordon and EQ    

A abstract of European lodge transactions offered by HVS

Sono acquires Resort Dame des Arts in Paris from TPG Angelo Gordon and EQ
South Korean lodge group Sono Lodges & Resorts, by its European arm Sono Hospitality BV, has acquired the four-star, 109-room Resort Dame des Arts in Paris, France, from American different funding fund TPG Angelo Gordon and European hospitality funding platform EQ Group, for some €120 million (€1.1 million per room). Situated within the Latin quarter in Paris’s sixth arrondissement close to the Notre-Dame cathedral, the lodge will proceed to be operated by EQ Group. The sellers acquired the property, then a Vacation Inn, in 2019 as a part of a Parisian five-property portfolio for which they paid a reported €181 million, after which undertook an intensive renovation by 2021 and 2022 to reposition it into one of many Prime 20 inns in Paris as voted by Conde Naste readers. Sono presently owns a portfolio of 16 inns and 10,000 rooms in South Korea, with this being the group’s first acquisition in Europe. HVS carried out valuation providers on this asset.

Atalaya fund acquires Be Dwell Expertise Lanzarote Seaside, Spain
Atalaya, Andorra-based Andbanks’ funding fund managed by Spanish group Navis Capital, has acquired the four-star, 237-room Be Dwell Expertise Lanzarote Seaside within the Canary Islands, Spain, from an undisclosed vendor. The lodge is situated on the Costa Teguise on the japanese coast of Lanzarote island. The asset, beforehand managed by Be Dwell Lodges, will endure a renovation programme at the price of €4.5 million (€19,000 per room) to grow to be each branded and managed by the THB Lodges group. With this transaction, the Atalaya fund is nearing full funding, having raised some €70 million upon launch in 2020 to spend money on Spanish three- to four-star coastal inns, and has a leverage of roughly 55%.

Limestone Capital acquires luxurious resort in Sardinia, Italy
Switzerland-based hospitality-focused personal fairness group Limestone Capital AG has acquired a luxurious resort in Sardinia, Italy, from an undisclosed purchaser, with the goal to reposition the asset following a complete capital expenditure plan. Situated on Sardinia’s luxurious Costa Smeralda, the lodge is ready to open in Might 2024 below the group’s Aethos model as a five-star, 64-room luxurious resort and can provide health, yoga and wellness providers and a ZAIA-branded restaurant outlet. This acquisition marks Limestone’s fourth Italian property, and its portfolio additionally contains luxurious property in France, Spain and Portugal.

Andras Home acquires ETAP Belfast in Northern Eire
Northern-Irish lodge group Andras Home has acquired the two-star, 146-room ETAP Belfast in Northern Eire, from an undisclosed vendor, for £7.35 million (£50,000 per room). The lodge, situated some ten minutes by foot from town centre of Belfast and 5 minutes from Belfast Central Station, is presently leased to Accor for a remaining six and a half years. Andras Home is led by Rajesh Rana and its portfolio contains ten inns and eight business property in Northern Eire, with an 83-room lodge improvement at the moment underway in Portrush that’s anticipated to open in 2025.

HVS is the world’s main consulting and valuation providers group centered on the lodge, restaurant, shared possession, gaming, and leisure industries. Established in 1980, the corporate performs greater than 4,500 assignments per 12 months for just about each main business participant. HVS principals are considered the main professionals of their respective areas of the globe. By 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 concerning our experience and specifics about our providers, please go to www.hvs.com.

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