Invesco acquires QO Hotel in Amsterdam for CBRE GIP
Invesco Real Estate has acquired the QO Hotel in Amsterdam on behalf of clients of CBRE Global Investment Partners (GIP).
Invesco said the 23-storey hotel is held on a lease and will be managed on a day-to-day basis by InterContinental Hotels Group on a management contract.
Designed and developed by Amstelside, the QO Hotel Amstelkwartier features 288 rooms, conference facilities, a restaurant and rooftop bar.
No financial details were disclosed.
Marc Socker, the managing director for the hotel fund at Invesco Real Estate Europe, said: “The opportunity to work with our partners, with their in-depth local knowledge and expertise, and our investor to deliver such an exciting, first-of-its-kind, best-in-class “lifestyle destination” hotel concept into what Invesco regards as one of the strongest hotel markets in Europe is fantastic.”
The hotel is located in the Amstel area of South-East Amsterdam.
The location is also benefiting from a redevelopment programme, being transformed from a light industrial area into a trendy, urban location, Socker said.
Over the past 12 months, Invesco has transacted $1bn (€805.7m) in the European hotel market on behalf of its European mandates.
Sander van Riel, the head of Continental Europe, CBRE Global Investment Partners, said: “The acquisition of the QO Hotel Amstelkwartier is in line with a key GIP strategy – to acquire very well located and positioned hotels in liquid markets.”