Mergers & Acquisitions

🏨 Global Mutual has launched Global Mutual Hotels following the acquisition of Okami Hospitality Partners. As of now, the platform manages €500 million in assets, totaling 1,000 keys, with another 1,000 keys in development in Spain and Portugal. Expansion plans include the USA, Middle East, and Asia. Managing Director Ritchie Gardiner noted the volatile macro environment presents opportunities, while Javier Batlle emphasized the strengthened potential through Global Mutual’s strategic capabilities.

🏠 Bain Capital acquired the Pullman Montparnasse hotel in Paris from Unibail-Rodamco-Westfield with Columbia Threadneedle and QuinSpark for an undisclosed amount. Signed on 17 September, it's among France's largest hotel transactions. Built in 1974, the 957-room, 32-storey hotel had a €216m refurbishment in 2021. Located in the 14th district, it features conference space, restaurants, and a sky bar. Plans include energy efficiency upgrades to comply with the French Tertiary Decree.

🏨 Zeus International Hotels & Resorts acquires Eretria Hotel & Spa Resort in Evia, Greece, enhancing its Greek market presence with this coastal property. The resort offers renovated rooms, private pools, wellness facilities, and diverse dining options. With this acquisition, Zeus International manages over 4,000 rooms across Greece, Italy, Romania, and Cyprus. CEO Haris Siganos aims to transform it into a flagship destination, emphasizing guest experience and high-quality investments.

🏨 Japan's Seibu Prince Hotels Worldwide (SPW) will acquire Ace Group International, including Ace Hotel and Atelier Ace, for USD $90 million. The deal, via SPW's US subsidiary Ace Hotels Worldwide Inc., closes by September 2025. Ace Hotel will retain brand independence under SPW’s division. Ace operates eight hotels, including New York and Kyoto, with future openings like Ace Hotel Fukuoka in 2027. Post-acquisition, SPW and Ace will manage 94 hotels globally.

💰 Japan’s Seibu Prince acquires Ace Group for $90 million. The deal, first reported by Bloomberg, is expected to close on September 30, 2023. Ace Hotels, founded in Seattle in 1999, operates eight hotels globally, including New York, Brooklyn, Palm Springs, and more, with a new hotel slated for Fukuoka, Japan. Seibu Prince aims for 250 hotels by 2035. SPW and Ace will manage 94 hotels worldwide, with seven more planned. Ace founder Alex Calderwood passed away in 2013.

🏨 JLL’s Hotels & Hospitality Group arranged a $53 million refinancing for The Morrow Hotel, a 203-room property in Washington, D.C.’s NoMa district, owned by Trammell Crow Company and MetLife Investment Management with Peachtree Group financing. Opened in November 2022, it features 203 guestrooms and nearly 11,600 square feet of event space. Chef Marcus Samuelsson leads its culinary program. Located conveniently near Union Market and the U.S. Capitol, the hotel benefits from Washington, D.C.'s diverse economic base.

🏨 B+B Edinburgh, a Grade II listed Georgian townhouse hotel, is for sale in Edinburgh’s West End for over £5 million. Located on Rothesay Terrace, it's a 10-minute walk from key landmarks like Edinburgh Castle. The hotel features 27 luxury rooms, a 60-person restaurant, a bar, and more. Managed by the B+B Collection, it has been profitable since its 2011 acquisition, maintaining strong occupancy due to its prime location and renovations that blend Georgian charm with modern amenities.

🏠 Global Mutual, a real estate investment firm, launched Global Mutual Hotels after acquiring Okami Hospitality Partners. Founded in 2008, Global Mutual manages a £5 billion portfolio. Global Mutual Hotels, with €500 million (£432 million) in assets, will operate in Europe, then expand to the USA, Middle East, and Asia. The platform aims to partner with investors for hotel acquisitions, leveraging Okami's expertise and Global Mutual’s capital strength to deliver attractive returns.

📈 Property developer Vastint is selling a UK hotel portfolio valued at £500 million, advised by JLL and KPMG UK. The portfolio includes 15 Marriott-branded hotels with 3,230 rooms, operated by Hotel Co 51 UK. Located near city centers and transport hubs, it features the largest Moxy collection in Europe. With an average build age of five years, all properties have Green Key certification and LEED/BREEAM ratings, aligning with investor interest in sustainable operational real estate.

🏨 The Knighton Hotel, a Grade II-listed building in Knighton, Powys, is on the market for £599,000. Built in 1867, it features 18 en suite bedrooms, a two-bedroom guest apartment, and communal spaces. Recent restorations preserved its original charm while modernizing the interior. Currently offering room-only accommodations, the location near Offa’s Dyke Path and Glyndŵr’s Way makes it ripe for expanded trading or other developments. Christie and Co is handling the sale.