Mergers & Acquisitions

🏨 Partners Group, Trinity Investments, and another investor acquired the 240-key Hoxton Poblenou hotel in Barcelona's 22@ District from Norlake Hospitality. The purchase is part of Partners Group’s hospitality strategy with a USD $1 billion asset portfolio. This marks their fourth collaboration with Trinity since 2023. The hotel, which opened in spring 2022, features four F&B venues, a rooftop, and over 1,000 square meters of event space, with plans to boost group bookings and F&B offerings.

🏨 €250 million refinancing from Aareal Bank in 2025 supports InterGlobe's hotel brand Miiro's expansion. Miiro operates nine hotels across Europe and launched properties in Paris and Barcelona in 2024, followed by London in 2025. Two Vienna hotels, renovated with one opening in November 2025 and another set for early 2026, are part of the strategy to reposition former K+K properties and scale as a boutique lifestyle brand.

🏨 From 2013 to 2020, the hospitality sector outperformed the Euro Stoxx 50, with investments growing from 5-7% to nearly 10% globally and 20% in Spain. Paris luxury hotel values rose by 8%. Lifestyle brands are expanding by 14% annually, covering 600,000 rooms worldwide. Louvre Hotels renovated nearly 70 properties this year, aiming for 360 more. The integration of Ruby Hotels by IHG took over three years to perfect.

🏠 UK: The Social Hub plans to invest £200 million in a new venue at Edinburgh's former Fountain Brewery site, vacant for 20 years. The 560-bed project will feature extended stay rooms, hotel suites, and student housing, along with coworking spaces for 300, event spaces, a gym, and dining options. Public consultations are set for 8 December and 26 January. Buccleuch Property and Cruden Homes lead the site's redevelopment as part of the Fountainbridge masterplan.

💸 UK: In November 2025, PPHE secured a £95.8 million refinancing deal with Aareal Bank for Park Plaza London Riverbank. The loan's maturity extends from June 2026 to June 2030. Until June 2026, the interest rate remains at 3.248%, shifting to 5.72% fixed for 85% of the loan thereafter, with the remainder on a floating rate. The loan's amortisation removal is expected to mitigate the higher interest cost impact on cash flow.

🏠 Marriott expands its EMEA branded residential portfolio, boosting its footprint by 23% in Europe and 59% in the Middle East and Africa since late 2023. With over 50 projects in 18 countries, nearly 20 new agreements were signed in 2025, half being standalone residences. Key projects include Marriott Residences in Budapest and Dubai Islands. Two-thirds of 2025 signings are luxury, with high demand in coastal and urban areas. Affini in Dubai sold out in a week.

🏨 Oberland and RealVantage acquired Manchester's Grade II-listed Heathcote Hotel, originally built in 1899, featuring a grand staircase and Jacobean-Baroque façade. Supported by Swiss Finance & Property Group, with legal and tax advice from Brodies and BDO, C1 Capital Partners will manage operations. Co-founders Andrew Dean and William Riordan see restoration potential and value creation. Earlier, they partnered on Glasgow's Arthouse Hotel acquisition.

🏨 Down Hall Hotel, Spa & Estate in Essex received four AA Red Stars at the 2025 AA Hospitality Awards in London. The award, given to top British hotels, highlights the hotel's excellence in service and guest experience. Set within 110 acres, Down Hall features 98 unique rooms and award-winning dining. A new £1 million investment is underway to enhance the estate with The Woodland Table, The Barn Spa, and The Charles Gardens, opening in 2026.

💰 Pandox AB completed a €1.7 billion acquisition of Dalata Hotel Group on November 7, 2025, integrating 53 properties across the UK and Ireland. Expected annual rental income boost: SEK 1.2 billion; cash earnings: SEK 450 million. Post-divestment to Scandic in 2025, transaction value: €1.2 billion. Scandic to acquire the hotel business in H2 2026 for €500 million. Dalata manages 56 hotels with 12,219 rooms, aiming for 21,000 rooms by 2030. Shareholders approved the deal, valuing Dalata at €1.4 billion.