Mergers & Acquisitions

🏨 UK, June 2025: RE Capital sold the Ruby Stella hotel in Farringdon, London, to LaSalle Investment Management for £48 million. The hotel, featuring 153 rooms, a restaurant, and a bar, launched in November 2024 as Ruby's 20th European hotel. It boasts a BREEAM Excellent rating and an EPC A6. Savills advised RE Capital, with Constantine RE and Gowling WLG representing LaSalle.

🏨 BWH Hotels added 15,000 hotel keys globally, boosting its position as the second-largest independent soft brand. By 2027, they aim for 70 properties in the Middle East, with new hotels in Jeddah, Riyadh, and Madinah. In Europe, expansions include Germany's Loftstyle Hotel Gerlingen and Slovakia's Best Western Hotel Prešov. The UK saw the addition of seven hotels, including Sheffield City. They are also venturing into extended-stay and glamping sectors.

🏝️ Playa Hotels & Resorts joins Hyatt’s portfolio, adding 15 all-inclusive resorts in Mexico, Dominican Republic, and Jamaica. The expansion strengthens Hyatt’s Inclusive Collection with renowned properties like Secrets La Romana and Dreams Rose Hall. This acquisition follows previous acquisitions, including the Apple Leisure Group in 2021 and a joint venture with Grupo Piñero in 2024. Hyatt aims to boost its leadership in the all-inclusive segment through enhanced locations, capabilities, and talent.

📍 Italy: In 2025, COIMA SGR acquired €54 million in debt for the Grand Hôtel des Bains in Lido di Venezia and plans to invest €200 million to restore it after 15 years of closure. Opened in 1900, the hotel inspired Thomas Mann’s "Death in Venice." It closed in 2010 when Est Capital abandoned a luxury apartment project. COIMA and Eagle Hills, led by Mohamed Alabbar, will restore it into a modern luxury resort, engaging Venice's authorities.

🏕 Siblu’s European expansion in 2025 saw the acquisition of eight villages: six in Belgium, one in Germany, and one in the Netherlands. A €1 million investment starts in 2026 for a new 60-hectare site in Germany. Belgium receives €5 million for 1,500 pitches upgrades. Siblu aims for €320 million revenue in 2025, with €30 million for French investments in 2026. Siblu targets 80 villages by 2030, employing 2,000 during peak 2025.

💸 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.