Ontario-headquartered Westmont Hospitality, a global owner and manager of hotels, has acquired business and entertainment complex Ven Amsterdam from the project's developer, Omnam Group.
Financial details were not disclosed.
Located in Amsterdam's Sloterdijk area, the deal includes the new 476-room Park Inn Amsterdam City West, the 50-room B-Aparthotel Westgate, 4,000 m2 of conference space, a Holland Casino with a total area of 5,000 m2 as well as 6,000 m2 of retail space.
'The Omnam Group has developed and created a strong Ven brand, now a thriving hub in Sloterdijk,' said David Zisser, founder and CEO of Tel Aviv-headquartered Omnam.
'Ven Amsterdam serves as a beacon of colour for the entire area and we have placed the project in a trusted pair of hands to bring it to even greater heights, whilst providing our investors with an outstanding return on their investment,' Zisser added.
Canada's Westmont owns more than 500 hotels worldwide. It was founded in 1974 by the Mangalji family and is run today by CEO Kenny Gibson. According to the group, since 1995, Westmont has co-owned and operated aronud 250 hotels in almost every country in Europe.
Eastdil Secured advised the vendor.
Arcadis Nederland were involved as technical advisors throughout the transaction.
