PPHE acquires Park Plaza London Waterloo freehold from CBRE IM

Amsterdam-based owner-operator PPHE Hotel Group, formerly known as Park Plaza Hotels Europe, has reacquired the freehold interest in the four-star, 494-room Park Plaza London Waterloo in the UK from global real estate investment company CBRE Investment Management, acting on behalf of several of its pension fund investors, for £147.9 million (£299,400 per room). The property is situated by Waterloo train station, across the river from Big Ben and the Houses of Parliament. The hotel includes a restaurant, six meeting rooms, and a gym with swimming pool. In 2017, PPHE undertook a £161.5 million sale-and-leaseback of the newly developed hotel and entered into a 199-year lease, with annual rent initially set at £5.6 million. Annual inflation adjustments had increased the rent to £7.3 million. The re-acqusition of the freehold protects PPHE from future rental uplifts. 

Nordeste Properties acquires Meliá Bilbao in Spain from Hotei Properties Group

Spanish real estate investment company Nordeste Properties Socimi has acquired the five-star, 210-room Meliá Bilbao in Spain from Spanish real estate investment company Hotei Properties Group Socimi, for €63 million (€300,000 per room). The property is situated in central Bilbao, on Spain’s north coast, next to Euskalduna Palace. The hotel includes a restaurant, bar and seven meeting rooms. It is operated under a lease agreement with Meliá Hotels International, with a remaining term of 17 years.

SomnOO acquires 123 IM’s shares in six French hotels

French owner-operator SomnOO has acquired the shares held by its partner-investor, French real estate management company 123 Investment Managers, in six hotels in France, changing its position from minority owner in the hotels to majority owner. The portfolio includes the three-star, 79-room Hostellerie Saint Vincent de Beauvais, the three-star, 77-room Holiday Inn Express Strasbourg, the three-star, 69-room Ibis Styles Bethune Bruay, the three-star, 64-room Ibis Lille Lomme, the three-star, 55-room Ibis Calais Car Ferry and the two-star, 74-room First Class Amiens. SomnOO will continue operating the hotels. In December 2025, SomnOO also acquired 123 IM’s shares in six other Ibis and Ibis Budget franchised hotels in France, as reported in this newsletter.

• H1 2025 European Hotel Transactions (Read here)
• HVS 2024 European Hotel Valuation Index (Read here)
• 2024 European Hotel Transactions (Read here)
• Israel's Tourism and Hospitality Outlook (Read here)
• The Serviced Apartment Sector in Europe in 2025 (Read here)
• Edinburgh Market Pulse (Read here)
• London Market Pulse (Read here)
• Madrid Market Pulse (Read here)
• Berlin Market Pulse (Read here)

For the latest in the hospitality industry, please visit: hvs.com. You are also welcome to contact the following personnel.

Russell Kett, Chairman – HVS London

Charles Human, CEO – HVS London/HVS Hodges Ward Elliott

Chris Martin, Senior Director – HVS Hodges Ward Elliott

Sophie Perret, Managing Director – HVS London

Tim Barbrook, Head of Debt Advisory – HVS Hodges Ward Elliott

Jon Critchley, Director – HVS Hodges Ward Elliott