The elegant fully licensed three-star Westcliff Hotel in Westcliff, South Essex has been sold in an off market deal by leisure property specialist Fleurets. The hotel has been acquired for an undisclosed sum by MGM Muthu Hotels, part of M.G Muthu Group from India. Last December, Fleurets was instructed by the vendor on a confidential basis to put the hotel up for sale with … [Read more...]
Search Results for: hotel acquisition
Michels announces £200m hotel investment fund
Sir David Michels has announced the launch of a new £200m fund, exclusively targeting investments in the European hotel sector. The fund will be managed by Michels & Taylor, and will primarily focus on the provincial UK market, though targeted acquisitions in Continental Europe will also be considered. Sir David, ex-Hilton chief and one of the world's most experienced … [Read more...]
Starwood Hotels & Resorts to add 40 hotels in Europe
From IHIF in Berlin, Starwood Hotels & Resorts has announced it is on track to open more than 40 new hotels and resorts across Europe in the next five years, expanding its portfolio by almost 30% with openings in both fast-growing and established markets. “2014 was a record year of deal signings for Starwood in Europe with consistent, sustainable high-quality portfolio … [Read more...]
Somerston Hotels to develop as Atlas Hotels
Hotel owner and operator, Somerston Hotels is changing its company name to Atlas Hotels, with effect from 27 February 2015. The change of name has been triggered by the recent acquisition of Somerston Hotels by private equity firm Lone Star. This acquisition now puts the former Morethan Hotels portfolio (previously managed for Lone Star by Somerston Hotels) and the Somerston … [Read more...]
Renewed investor interest prompts 86% rise in hotel deals
Hotel real estate was the star performer in Europe’s property market in 2014 with transaction volumes growing faster than other asset classes such as office, industrial or retail space. According to the annual European Hotel Transactions report, published this week by HVS and its brokerage and investment services division HVS Hodges Ward Elliott, last year saw European hotel … [Read more...]