London-based Tristan Capital Partners, through their latest opportunistic fund, European Property Investors Special Opportunities 6 (EPISO 6), has, along with London-based Queensway Group, acquired the majority shareholding in Raag Hotels for £420 million. Raag Hotels is the parent company to Point A Hotels, which has a hotel portfolio encompassing 1,520 rooms across 10 budget boutique hotels in the UK and Ireland, of which seven are in London. Under the new partnership between Tristan and Queensway, Queensway will co-invest and act as hotel operator, asset manager and development partner for future sites. The new shareholders have committed significant additional equity to expand Point A Hotels, aiming to double the portfolio’s size over the medium term. 

Oslo-based real estate investment company Eiendomsspar AS has acquired the four-star Hotel Cristiania Teater from Oslo-based real estate investors Strawberry Group for an undisclosed sum. The new owners, who also have a 25.8% stake (voting share of 36.6%) in the Swedish listed hotel real estate company Pandox AB, acquired the asset with the intention to refurbish the hotel. The property features 102 guest rooms and suites, a theatre and event hall with a capacity for 400 people, as well as a restaurant and a wine bar. The listed building was built in 1917, originally serving as both offices and a theatre, and was later, in 2010, converted into a hotel, retaining the theatre as a conference and event venue. Nordic Hotels & Resorts, owned by Strawberry Group, will continue to operate the hotel.

Pandox sells Mora Hotel & Spa in Sweden to Cibola Holding

Swedish hotel investor Cibola Holding AB has acquired the Mora Hotel & Spa from Swedish owner-operator Pandox AB for a reported SEK 114m, which converts to approximately €11.1m (€79,000 per room). The asset features 140 guest rooms, meeting rooms, a restaurant and spa, and will continue to be operated by the Lund family, who have run the hotel since 2018. The four-star hotel, located 270km northwest of Stockholm, in central Sweden, is situated in the very heart of the town, fronting a park and one of Sweden’s largest lakes, Siljan. 

SomnOO acquires four hotels in France

French owner operator SomnOO has acquired the minority ownership of a 230-room portfolio of four properties in France, with details of the transactions not disclosed. The assets include the four-star, 38-room Hôtel de L'Univers Arras in northern France, as well as three hotels in Provence: the four-star, 48-room Hotel Best Western Plus Le Lavarin in Avignon, the three-star, 80-room ibis styles Arles Palais des Congrès and two-star, 64-room ibis budget Arles Palais des Congrès, both located within the same building complex in Arles. 

Vienna based JPI Hospitality Investor Club, part of JP Immobilien, has acquired the Hotel Rotterdam in its namesake city for an undisclosed sum. The 115-room hotel is housed in two connecting buildings, built in 1940 and last renovated in 2008. The property features a brasserie, lobby lounge and a breakfast area. This is JPI Hospitality’s second acquisition within a month, following the recently reported acquisition of the Hotel Tres Playas in Mallorca, Spain. The group now owns more than 10 assets in five countries spanning Austria, Italy, Spain, Switzerland and now, the Netherlands. 

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