BMO Real Estate Partners is acquiring the Travelodge Bury St. Edmunds for a reported £9.5 million (£119,000 per room) on behalf of the BMO UK Property Fund. The 80-room property is located about 45 kilometres east of Cambridge and marks the first hotel to be added to the fund. The hotel is operated by Travelodge, subject to a 25-year index-linked lease. The site includes a 160 sqm drive-through Starbucks coffee shop, which is let on a 20-year lease, also with index-linked uplifts.
French private equity firm Tikehau Capital, along with operating partner Le Groupe de l’Hôtellerie, is acquiring two three-star hotels in Paris’ city centre with a total capacity of 97 rooms. The 58-room Hotel Corona Opéra as well as the 39-room Hotel Touraine Opéra are both centrally located in the 9th district and only a short walk from the Paris Opera.
Madrid-based international hotel owner and operator, Hoteles Globales, is buying the Cala Bona Suites hotel in Mallorca from a group of local private investors. The property is situated approximately 70 kilometres from Palma on the east coast of the island and comprises 86 suites, indoor and outdoor swimming pools, fitness facilities as well as entertainment services. This acquisition brings the portfolio of Hoteles Globales to 41 properties and over 8,800 rooms.
HVS is a leader in global hospitality financial consulting. Hotel owners, developers, investors, lenders, management companies, and public agencies around the world rely on HVS to make informed business decisions. HVS’s commitment to excellence and unrivalled hospitality intelligence is delivered by more than 300 people in over 50 offices throughout the world who specialize in a wide range of hospitality assets including hotels, restaurants, casinos, shared ownership lodging, mixed-use developments, spas, and golf courses, as well as conventions, sports, and entertainment facilities. For more information about HVS visit https://hvs.com.