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Europe Hotel Transactions Bulletin - Week Ending 7 May 2021
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Turm am Mailänder Platz hotel development in
Stuttgart, Germany from Austrian developer
STRABAG Real Estate for
€137 million. The forward sale includes 429 rooms across two new-build hotels, collectively €320,000 per room, being a 169-room
Adina Aparthotel and a 260-room
Premier Inn. The development, which is scheduled to complete in December 2021, is located in Stuttgart s Europa district close to the new main railway station. The acquisition, which will be added to the buyer s open-ended real estate fund
Unilmmo: Deutschland, follows a six month hiatus from the buyer on any new hotel investments on account of coronavirus.
Updated / Friday, 7 May 2021
08:56
The Moxy Dublin will be The MHL Hotel Collection s third Marriot branded hotel
CBRE has confirmed that following an off-market process, Midwest Holding has sold The Moxy Dublin City Hotel to The MHL Hotel Collection for about €35m.
CBRE said that while this was an off-market sale, it attracted strong interest from a significant number of established domestic and international property investors, hotel funds and private equity companies.
The estate agents also said the sale highlighted the fact that the level of international interest remains robust for Dublin as an attractive location for hotel investment.
The Moxy Dublin City, which opened in October 2019, has 157 bedrooms as well as bar and restaurant space on the ground floor.
The 157-bed Moxy Dublin City hotel has been sold for â¬35 million in what is the first major Dublin hotel sale of the year, and the first since the start of the pandemic.
The hotel on Sackville Place just off OâConnell Street was sold by the Spitzer familyâs Midwest Holding group to the MHL Hotel Collection, whose properties also include The Westin, The Intercontinental and the Powerscourt Resort in Co Wicklow.
Prior to the pandemic Dublinâs hotel sector was thriving. At the start of 2020, approximately 99 hotels, aparthotels or other forms of guest accommodation were either the subject of a planning application or under development across Dublinâs four local authority areas.