The hotel and leisure arm of fund manager Invesco has acquired the four-star Sofitel hotel in Nice, France, from an unnamed buyer. No financial details were disclosed. The 152-room hotel has been rebranded and leased to Spanish hotel operator NH Hotels, said property broker Christie + Co, which acted as agent for the deal.
The hotel and leisure arm of fund manager Invesco has acquired the four-star Sofitel hotel in Nice, France, from an unnamed buyer. No financial details were disclosed. The 152-room hotel has been rebranded and leased to Spanish hotel operator NH Hotels, said property broker Christie + Co, which acted as agent for the deal.
Jochen Schaefer-Suren, head of Invesco's hotel and leisure arm, said the company has a further EUR 1 bn to invest in the European hotel sector and is looking for both single asset and hotel chain deals.
Separately, a group of investment funds have acquired more than 5% of NH Hoteles SA in the past week on expectations of a bid for the hotelier from core shareholder Hesperia SA, Spain's Negocio reported, citing unnamed financial sources.
According to Negocio, Sark Master Fund has acquired 1.25% of NH Hoteles, while other hedge funds such as Centaurus and Leonardo have also taken up stakes.