Mergers & Acquisitions

💸 Aareal Bank refinanced Carbonleo for the Four Seasons Hotel Montreal. Aareal, based in Germany, acted as arranger, facility agent, and security agent. Carbonleo, founded by Andrew Lutfy in 2012, develops mixed-use real estate. The 169-room hotel, opened in 2019 in Montreal’s Golden Square Mile, holds a five-key eco-rating. Antoine Bernier from Carbonleo and Bettina Graef-Parker from Aareal praised the partnership's focus on sustainable luxury in urban markets.

💰 Covivio issued green bonds with a 3.625% coupon and a 135 basis point spread over nine years, achieving a 3% effective annual cost. The aim is to extend average debt maturity to 4.8 years by end-2024 and target liquidity of €2.5 billion. Covivio maintains a BBB+ rating from S&P, with bonds listed on Euronext Paris by June 17, 2025. The bonds finance €4.2 billion in EU Green Bond eligible assets, pioneering the format in real estate.

🏠 Pierre Beckerich's Euragone and Jean-Baptiste Pracca's Mata Capital formed Yoomata Aldgate Property Ltd, acquiring London's Challenger House, home to the 180-room Corner Hotel, for nearly €50 million. The site will transform into Yooma Urban Lodge London, featuring diverse room types and immersive activities. This marks the third Yooma concept, following Paris (2017) and Brussels. The transformation leverages an adjacent vacant site, enhancing hospitality with activities like cookery classes and arcade games.

📍 Iberostar Hotels & Resorts has met its 2025 goals with new properties in the U.S., Aruba, and Tunisia. Their 2024 launch of the luxury brand, JOIA by Iberostar, in Aruba marks expansion into Mexico, the Dominican Republic, and East Africa. A €210 million investment is earmarked for renovations and new regions like the Indian Ocean. In April 2025, Iberostar Selection Es Trenc opened in Mallorca, featuring 145 sea-view rooms and suites after major renovation.

💰 Pandox and Eiendomsspar, owning 36.8% of Dalata, proposed €6.05 per share, rejected by Dalata's board as undervaluing the company. Amid a 40% annual share increase, Dalata's market cap stands at €1.25 billion. Dalata operates 61 hotels in Ireland/UK, aiming for 21,000 rooms by 2030. Pandox has until July 15, 2025, to firm up their offer. Dalata's revenue rose by 7.3% to €652.2 million, with a 5.1% EBITDA increase.

📰 June 5, 2025, Josiah Mackenzie presented at the NYU International Hotel Investment Forum in New York. He emphasized that hospitality profits should focus on investments rather than solely on cost-cutting strategies. Mackenzie shared ideas from a panel discussion, suggesting that strategic investments can significantly benefit businesses and the communities they serve. For more insights, listen to the episode and consider applying these concepts in your teams.

🏢 Real estate investment companies pool funds from multiple investors to buy and manage diverse properties. Common assets include office buildings, apartment complexes, retail plazas, industrial spaces, and hotels. Returns are generated through rental income, capital appreciation, and development gains. While investors benefit from professional expertise, diversification, and lower capital requirements, they face risks like market volatility, fees, illiquidity, and limited control. Key metrics in hospitality include occupancy rates, ADR, and RevPAR.

🏨 Meliá Hotels International and Banca March have expanded their partnership by acquiring the Sol Tenerife and Innside Palma Bosque hotels in Spain. The hotels, totaling 784 rooms, will be renovated starting in 2025-2026 with a €50 million investment as part of a €140 million deal. Banca March owns 70% of the venture, with Meliá holding 30%. This move aligns with their strategy to enhance property value and profitability in key Spanish destinations.