Invesco in EUR 1 bn hotel spending spree

British asset manager Invesco Real Estate announced it has reached agreement with Generali France on the establishment of a separate investment account to invest EUR 300 mln of the French insurance company's equity in hotel real estate across Europe. As part of the deal Invesco will take over the asset management of three hotels owned by Generali France. Invesco will also act as advisor to Generali in relation to its new listed hotel real estate business in France. Thanks to the British company's Hotel Real Estate Fund and the separate Generali France account, Invesco can draw on a total of EUR 1 bn for hotel acquisitions in Europe.