Europe hotel transactions bulletin – Week ending 4 September 2020

Belfont Hotels acquires The Cosmopolitan Hotel in Leeds, UK from Peel Hotels

UK-based Belfont Hotels has acquired The Cosmopolitan Hotel in Leeds from UK hotelier Peel Hotels, for an undisclosed price. The newly formed Belfont Hotels, which has plans to acquire additional hotels in key UK cities, is a joint venture between the Thakerar and Dhamecha families. The 89-room freehold hotel is situated in the city centre of Leeds, in the north of England.

FIVE Hotels & Resorts acquires the Hotel Atlantis in Zurich, Switzerland

Dubai-based real estate group FIVE Hotels & Resorts has acquired the 95-room Hotel Atlantis in Zurich, Switzerland. The property, which opened in 1970 and was extensively renovated in 2015, has been sold by a private Qatari group, and previously operated by Giardino Hotels. Currently closed due to the COVID-19 pandemic, it is set to reopen in the summer of 2021, and will be owner-operated by FIVE Hotels & Resorts.

Elite Plaza Hotel in Gothenburg, Sweden sold to Platzer Fastigheter

The 127-room Elite Plaza Hotel in Gothenburg, Sweden, has been acquired by local real estate investor Platzer Fastigheter, from AFA Fastigheter. The hotel, which was built in 1889, is reported to have been sold for €38.8 million (€305,000 per room) and will continue to be operated under a long-term lease agreement by Elite Hotels.

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