A summary of European hotel transactions provided by HVS

Bain Capital JV to acquire Pullman Paris Montparnasse from URW

American private equity firm Bain Capital, together with global asset management firm Columbia Threadneedle and French owner-operator QuinSpark Investment Partners, has agreed a deal to acquire the four-star, 957-room Pullman Paris Montparnasse in France from Paris-based commercial real estate company Unibail-Rodamco-Westfield (URW) for €300 million (€313,500 per room). The property is situated in Paris’ 14th district by the Montparnasse train station. The hotel is part of the Les Ateliers Gaîté mixed-use development and includes three restaurants, two bars and 44 meeting rooms. The sale is expected to be completed this year, pending the fulfilment of customary closing conditions. HVS advised the lender on the property. 

Azora acquires majority stake in Donkey Hotels

Spanish REIT Azora, on behalf of investment funds under its management, has acquired a 50.1% stake in Greek owner-operator Donkey Hotels from the Greek Ioannou family, who will retain 49.9%. Donkey Hotels’ portfolio includes five hotels across Greece (834 rooms), with four located in Athens and one in Santorini. The JV partners have agreed to commit further capital to support Donkey Hotels through the renovation of the Athenaeum InterContinental, improvements to the existing portfolio, and the acquisition of additional properties across Greece. 

Jan Hotels acquires Pentahotel Prague from Aroundtown

Czech owner-operator Jan Hotels has acquired the four-star, 227-room Pentahotel Prague in the Czech Republic from German real estate company Aroundtown SA. The property is situated in the Karlin district, close by the Vltava River. The hotel includes a restaurant & bar and six meeting rooms. The hotel has since been rebranded and now operates as Hotel Pulse8. This is the group’s sixth hotel in the Czech Republic. 

Blue Owl acquires Ibis Styles Birmingham from Sterling Property Ventures

US investment firm Blue Owl Capital has acquired a mixed-use development in Birmingham, United Kingdom, from UK investment & asset manager Sterling Property Ventures, for £55 million. The property is situated between Birmingham’s city centre and Jewellery Quarter and includes the three-star, 120-room Ibis Styles Birmingham Centre, as well as 95,000 sq ft of office space and 325 underground parking spaces. The hotel includes a restaurant, bar and three meeting rooms. The building also serves as the headquarters of UK hospitality operator Mitchells & Butlers. 

The Tradesmen acquires Hotel Résidence Le Coin from the University of Amsterdam 

Dutch owner-operator The Tradesmen Vastgoed has acquired the three-star, 42-room Hotel Résidence Le Coin in Amsterdam, Netherlands, from the University of Amsterdam for €15.5 million (€369,000 per room). The property comprises seven historic buildings situated in central Amsterdam by Rembrandt Square and includes commercial spaces occupied by a student dentist and a café. This marks The Tradesmen’s third hotel acquisition in Amsterdam, alongside its The Craftsmen and The Nobelmen boutique properties, and was the University’s only hotel asset. 

Somnoo acquires Ibis Styles Besancon in France 

French owner-operator Somnoo has acquired full ownership of the three-star, 103-room Ibis Styles Besancon in France. After buying 60% of the hotel from its institutional financial partner in 2022, Somnoo has now acquired the remaining 40% of shares in the hotel from individual investors. Besancon is situated in eastern France, about an hour’s drive from the Swiss border. The hotel includes a restaurant, bar and outdoor swimming pool. Last month, Somnoo acquired the four-star, 80-room La Citadelle Hotel Metz – MGallery Collection in Metz, France, as reported in this newsletter. 

Travelodge to acquire new hotel in Bilbao, Spain

British owner-operator Travelodge has entered an agreement to acquire the freehold of a 105-room hotel that is under development in Bilbao, Spain, on a forward-funded basis. The property is situated near several public transportation links and is structurally complete, with furnishing, equipment installation, and operational setup now underway. The hotel is set to open in the first quarter of 2026. Travelodge currently operates 14 hotels throughout Spain and is actively working to expand its footprint across the country. 

HVS is the world’s leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.