Every week we will be delving into the world of Hotel Property thanks to our friends The Hotel Property Team (THPT). We will be covering 5 recent deals that has taken place over the last 7 days with insights from THPT Managing Partner, Dev Anand.
Red Carnation to Make Scotland Debut with Edinburgh Hotel
The Hotel Collection, which is part of The Travel Corporation group of travel companies, is to renovate 100 Princes Street in the centre of the Scottish capital. Travel Corporation is the parent company of Red Carnation, with travel brands such as AAT Kings, Contiki, Evan Evans, Trafalgar and Uniworld in it’s collection.
Red Carnation Hotels has announced plans to open a property in Edinburgh, which will become its first hotel in Scotland.
100 Princes Street, which offers views across to Edinburgh Castle, will become Red Carnation’s 19th property around the world when it opens next year as a 30-room hotel.
THPT Comment – Great buy for Red Carnation, a very stylish hotel company with 19 hotels throughout the UK, South Africa and Ireland.
Patrizia Acquires a Hotel Development in Lisbon
German commercial real estate investor Patrizia AG has acquired, on behalf of a German pension fund, the Tagus Square hotel development in Lisbon, Portugal from a private investor.
Patrizia AG has been active as an investment manager in the real estate market across Europe for more than 35 years. Their activities include the acquisition, management, re-positioning and sale of residential and commercial real estate through its own licensed investment platforms.
Located in the popular district of Cais do Sodré on the main square, Praça Duque da Terceira, the property is in close proximity to Lisbon’s Time Out as well as a number of cafes, bars and restaurants, including Pink Street, a popular nightlife destination, as well as the waterfront at Ribeira das Naus.
THPT Comment – Great move for Patrizia and Lisbon with this new development at Tagus Square….look forward to hearing who the operator might be.
Grand Tonic Hotel in Marseille Sold to Vicartem
The Grand Tonic Hotel in Marseille, France has been acquired by French hotel operator Vicartem for an undisclosed sum. The four-star hotel, located in Marseille’s Old Port, is Vicartem’s first acquisition outside of north-eastern France.
Vicartem, together with French furniture and home décor specialist Maisons du Monde, has recently opened the first Maisons Du Monde Hotel & Suite in Nantes. The group plans to continue its expansion under this brand.
For twenty years, have been proud of their sublimated decoration in the heart of the cities, such as the Balthazar Hotel & Spa Nuxe – MGallery by Sofitel in Rennes, first 5 stars of the Breton capital, or the Hermès shop of the famous Pommeraye passage in Nantes.
THPT Comment – Good move for Vicartem and Maisons du Monde and joins brands like Equinox, Biologique Recherche, Fouquet’s and others that have taken their brands into hotels.
Moxy Hotel to Open 2021 In Kyoto
Nijo Hospitality Limited Liability Company, an affiliate of Tokyo-based developer Pacifica Capital K.K., has signed a franchise agreement with Marriott International to open the first ‘Moxy’ lifestyle hotel in Kyoto. Construction of the Moxy Kyoto Nijo starts in July 2019 and the hotel is expected to open in spring 2021.
The hotel is just a two-minute walk from Nijo Station, with quick and direct access to Kyoto Station by JR Line as well as links to major tourist sites throughout the city via the Tozai Line of the Kyoto Municipal Subway.
Most guestrooms at the property are about 20 square meters with king or twin beds. The property also features Moxy’s unique bar and lounge serving food and drinks 24 hours a day, a meeting room and a gym.
THPT Comment – This relatively small hotel company, Pacifica Capital, is making great strides with this, their fourth hotel, coming from a commercial background mainly with office blocks
Slovakia-Based Developer Immocap Group Sells the Lindner Hotel Gallery Central in Bratislava
The 222-room four-star hotel includes two restaurants as well as 240 sqm of meeting facilities. The property is part of Slovakia’s first LEED certified project, and is at the centre of a major retail, office and leisure complex. HVS Hodges Ward Elliott acted as the seller’s agent in this transaction.
THPT Comment – Lindner, a family enterprise, will no doubt continue to grow, and we believe they will remain as managers of this hotel, Lindner Hotel Gallery Central.
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between them, they provide a range of skills and experience which is directly relevant to those involved in the hotel property market.
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