• US buyers acquire the Dalhousie Castle Hotel and Aqueous Spa in Scotland from RPHC   


A summary of European hotel transactions provided by HVS

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Saudi Arabia Sovereign Wealth Fund PIF to acquire 49% stake in Rocco Forte Hotels

Saudi Arabia’s Public Investment Fund (PIF) is close to acquiring a 49% stake in Rocco Forte Hotels, valuing the stake at approximately €1.5 billion. Sir Rocco Giovanni Forte, chairman and founder of Rocco Forte Hotels, will retain a 51% majority stake. The luxury hotels and resorts group was founded in 1996, and today includes a portfolio of 14 properties across Italy, Belgium, United Kingdom, Germany and Russia. Eight of the 14 existing hotels, plus three pipeline properties, are located in Italy. Chaired by HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, the PIF has an estimated $776 billion worth of assets under management.

Safestay returns to Edinburgh with its acquisition of a former hostel

UK-based international hostel group Safestay has acquired a freehold property in Edinburgh, Scotland, for cash consideration of £4.3 million. The first three floors of the property used to operate as a hostel and will be occupied by Safestay, whilst the top three floors, which are offices, are and will continue to be let to two tenants. The office is currently generating £133,000 in annual rent. Safestay plans to refurbish the property to deliver 225 beds by the summer of 2024, with rooms ranging from two to eight beds. Centrally located on Cowgate Street, the Grade A listed property is within walking distance of Edinburgh Castle, the National Museum of Scotland and Holyrood Park. Following these renovations the group’s hostel portfolio will encompass 17 properties, with a total of 3,476 beds.

OMO Retail sells NH Practico Madrid to Gregorio Antoraz

OMO Retail has sold the NH Practico Madrid in Spain to businessman Gregorio Antoraz. The sale price for the three star, 40-room property was not divulged. Located in the centre of the Spanish capital in the Tetuan district, the hotel is 1.5 kms from the Santiago Bernabeu stadium and a 20-minute walk from Madrid’s second largest train station, Madrid Chamartin. OMO Retail is a Spanish capital fund manager specialising in the commercial sector in its domestic market, with a portfolio of land and commercial premises in excess of some €30 million.

US buyers acquire the Dalhousie Castle Hotel and Aqueous Spa in Scotland from RPHC

US-based private investors have acquired the four-star, 35-room Dalhousie Castle Hotel And Aqueous Spa from Robert and Gina Parker, owners of the Robert Parker Hotel Collection. The hotel is located in Bonnyrigg, Scotland, about 30 minutes’ drive south of Edinburgh. The property, which includes a spa and a AA-rosette restaurant, is set to be managed by 7 Hospitality. The Parkers put their portfolio of four UK hotels on the market in May this year after announcing their retirement. The remaining properties are Doxford Hall Hotel & Spa in Northumbria, Ednam House Hotel in Scotland and Eshott Hall, also in Northumbria.

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