Date: January 2018
Location: Amstel area of Amsterdam, The Netherlands
Name: QO Hotel Amstelkwartier
No. of Keys: 288
Seller: Bart van de Kamp, Shareholder representing Borealis Hotel Group on behalf of Amstelside B.V.
Our vision, which visionary Xander Bueno de Mesquita and shareholders Klaus Vink and myself have, is to energise, inspire and delight, thus providing a new experience which leads the way for the future of hospitality.”
In 2015, the company successfully sold one if its subsidiaries; The Vincent Hotel Group (TVHG) comprising of 1,906 rooms through conversions of office buildings in The Netherlands.
Borealis continued its expansion across Europe with a promising development pipeline of around 2,000 keys supported multi development agreement and preferred partnerships with the key brands in place.
With the Novotel Schiphol and the Ibis Budget Amsterdam City South in operation and multiple projects of Hilton, IHG and Marriott underway in Amsterdam, Antwerp, Brussels, the Hague, Frankfurt and Utrecht the company is further strengthening its position as preferred hotelier in Europe.
Buyer: Invesco Real Estate, acting on behalf of clients of CBRE Global Investment
Partners, headed up by Marc Socker, Managing Director – Hotel Fund management, Europe at Invesco Real Estate
The QO Hotel Amstelkwartier is a modern, lifestyle hotel with floor to ceilings windows, a strong food and beverage offering, and an urban farm on the roof which supplies the hotel’s restaurant and bar.
Sander van Riel, 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 well-located hotels in liquid markets.
The 23-storey hotel, which was designed and developed by Amstelside B.V., will be managed by international hotel group, IHG.
THPT Comment: Seems strange that Borealis put so much energy in developing a green, sustainable, modern style with this QO hotel and then sell it to be run under the IHG banner?
First Seen: Europe Re