The sovereign wealth funds of Oman and Qatar are reportedly poised to acquire a number of European hotels in two separate deals worth a combined €485 mln.
The sovereign wealth funds of Oman and Qatar are reportedly poised to acquire a number of European hotels in two separate deals worth a combined €485 mln.
According to a news report by PropertyWeek, the Oman SWF is close to signing a deal to acquire the so-called Napoleon portfolio of Hilton-branded hotels from a joint venture between US hedge fund Baupost and Westmont Hospitality Group for €380 mln.
The eight-property portfolio includes assets in Dresden, Düsseldorf and Luxembourg, Zurich, Strasbourg and Barcelona, as well as the Hilton at Charles de Gaulle airport in Paris and the Los Zocos Club resort in the Canary Islands.
Separately, a Qatari group, understood to be the sovereign wealth fund Qatari Investment Authority, is believed to be investing €105 mln in the development of a five-star 35-storey hotel in Spain’s Mediterranean port of Málaga.
The hotel is expected to provide 350 rooms.
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Hotel special
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PropertyEU's December 2015 edition features a special report on the European hotel investment sector.
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