Schroders acquires two Hoxton hotels in Amsterdam and Paris from Sharan Pasricha
London-based investment manager Schroders has completed the acquisition of the 172-room The Hoxton, Paris and the 111-room The Hoxton, Amsterdam from entrepreneur Sharan Pasricha, founder and Co-CEO of Ennismore, for a reported €260 million (€919,000 per room). The two lifestyle properties, neither of which features any suites, will remain under Ennismore’s management, which entered a JV with Accor in 2021 to operate all of Accor’s lifestyle brands in addition to Pasricha’s Hoxton and Gleneagles brands. Founded in London in 2006, The Hoxton brand today has 13 properties in operation across the US and Europe, including four in London.
Highgate agrees to acquire Viceroy Hotels & Resorts
US-based hotel owner and operator Highgate has announced a definitive agreement to acquire LA-based luxury lifestyle hotel group Viceroy Hotels & Resorts, and its Icon Collection, Lifestyle Series and Urban Retreats brands, for an undisclosed price. The deal is expected to finalise in early 2023. Viceroy has a total of 10 properties in operation, with six hotels and resorts in the US, two in Mexico, one in Saint Lucia, one in Serbia and two more in the pipeline, with Portugal (the Algarve) opening in 2023 and Panama (Bocas del Toro) in 2024. Highgate, founded in 1988 by brothers Mahmood and Mehdi Khimji, now has over 500 owned and/or managed properties (84,000 rooms) across the US, Europe, Latin America and the Caribbean, after completing their $2.7 billion acquisition of six hotel portfolios from Colony Capital in 2021 totalling 22,676 rooms across 197 properties.
Deka agrees to acquire future Premier Inn at Newmarket Yards in Dublin
A fund owned by German real estate firm Deka Immobilien Investment has entered a forward commitment worth a reported €36 million (€238,000 per room) for a future 151-room Premier Inn hotel in the Liberties district of Dublin’s city centre, set to be delivered in 2023. The property, which also includes three retail units, will be let on a long-term lease to Premier Inn. The complex will form a part of the Newmarket Yards, a new mixed-use development in the Irish capital, which will also include 413 residential units, related amenities and extensive public areas. The development is being delivered by Carey Issuer DAC, a subsidiary company of Bain Capital.
Watergate Bay Hotel acquires Sands Resort in Newquay, UK
Hotelier Nicholas Malcolm, who is retiring, has sold his Sands Resort in Newquay in Cornwall, southwestern England, to the owners of the nearby Watergate Bay Hotel, for an undisclosed sum. The seaside resort, first opened in the 1970s as Cornwall’s first purpose-built family resort, includes wellness facilities with an indoor and outdoor swimming pool, tennis and basketball courts, a football pitch, children’s entertainment areas, a bar, lounge and restaurant. The new owners intend to create the “UK’s first coastal lifestyle aparthotel” which will be operated under its Beach Retreats brand. Works on the 72-bed property are set to commence some time in 2023, with plans including 24 new lodges on the 11-acre site.
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