Date: January 2017
Location: Prague, Czech Republic and Amsterdam, The Netherlands
Name: Hilton Prague Old Town – five star and Park Inn by Radisson, Amsterdam Airport – four star
No. of Keys: Hilton Prague: 303, with 14 meeting rooms for upto 340 pax. Park Inn:
Seller: Prague: Blackstone, advised by JLL, who acquired the hotel as a Renaissance (Marriott) in 2006; Amsterdam –
Buyer: M&L Hospitality, the Singapore-based real estate investment group, The new additions will bring their total portfolio to 18 properties globally, nine of which are in Europe and valued at close to SGD $2.5 billion.
In December 2016, the group acquired Hilton Prague Old Town, a well-established five-star, 303-bedroom freehold property, and Gestin Centrum, an adjacent 6,900 sqm mixed use commercial building.
M&L Hospitality also secured the sale of Park Inn by Radisson Amsterdam Airport at the end of 2016. Located in the Schiphol-Rijk Business Park, the hotel is close to Schiphol Amsterdam Airport, Europe’s fourth largest international airport.
Since 2013, M&L Hospitality has been actively acquiring properties in key gateway cities in Europe such as Stratford City, Manchester, Heathrow, Brussels, Amsterdam, and now, Prague. The group has also opened an office in Amsterdam, a move to support its growing European portfolio. They have a long-term relationship with Cycas Hospitality, who manage a lot of their hotels.
Neil Maxwell, Chief Executive Officer of M&L Hospitality, said “These new acquisitions in Europe are a testament to our confidence in the region and we look forward to expanding our European portfolio further. Back in Asia-Pac, they own the Hyatt Regency and Swissotel in Sydney (6 in Australia), Hilton Auckland and the Chateau on the Park, a DoubleTree by Hilton in Christchurch and the Ibis on Bencoolen, Singapore.
THPT comment: A slightly odd combination of hotels/brands from Ibis to Crowne Plaza and Swissotel – but no doubt all excellent investments in their own right…and good to see some new Singapore blood taking an active interest in Europe.
First Seen: Commercial Guru