Sani/Ikos acquires three hotels in Greece from Goldman Sachs

Greek owner-operator Sani/Ikos Group has acquired a portfolio of three hotels (1,076 rooms) in Halkidiki, Greece, from Goldman Sachs Asset Management. The portfolio includes the four-star, 427-room Athos Palace, the four-star, 484-room Pallini Beach and the four-star, 165-room Theophano Imperial Palace. The three hotels are situated directly next to each other on the Kassandra Peninsula in Halkidiki, northern Greece. Sani/Ikos Group plans to reconstruct and consolidate the three properties into Ikos Kassandra, the first Ikos Grand Resort, which will include 750 rooms, over 30 restaurants and other entertainment facilities. The total investment, including the acquisition cost and reconstruction works, is expected to be approximately €400 million (€530,000 per room). The resort is set to open in April 2029. 

PPF acquires Four Seasons Hotel Prague from Northwood Investors

PPF Real Estate, the property arm of Czech investment group PPF Group, has entered an agreement to acquire the five-star, 157-room Four Seasons Hotel Prague, Czech Republic, from US real estate investment firm Northwood Investors, for an amount reported to be some CZK 3 billion (CZK 19.1 million per room), which is equivalent to approximately €119 million (€758,000 per room). The property is situated near the Charles Bridge in Prague’s historic old town, fronting the Vltava River. The hotel includes two restaurants, a bar, cafe and 706 sqm of meeting space. In February 2025, PPF Real Estate acquired the four-star, 791-room Hilton Prague, as reported in this newsletter. 

Iroko Zen SCPI acquires Premier Inn Sunderland City Centre, UK

French institutional investor Iroko Zen SCPI has acquired the three-star, 125-room Premier Inn Sunderland City Centre hotel, UK, for £8 million (£64,000 per room). The hotel includes a restaurant and is situated in central Sunderland, ten-minutes’ walk from the central train station. The property is leased to Whitbread under its Premier Inn brand on a long-term lease with more than 10 years left. The deal reflects a net initial yield of 7.57%. In March 2025, Iroko acquired three B&B Hotels in Italy, as reported in this newsletter.

Atream Hôtels acquires The Ruck Hotel in Lyon, France

French hotel-focused real estate investment trust Atream Hôtels has acquired the four-star, 134-room The Ruck Hotel in Lyon, France. The property is part of the LOU Rugby complex, directly next to the Matmut Stadium. The hotel includes a restaurant, bar and five meeting rooms. French operator GL Events operates the hotel under a 16-year firm civil lease. The property is subject to a 60-year administrative lease (BEA) granted by the City of Lyon, with 53 years remaining as of 1st January 2024.

Niam acquires Citybox Helsinki from Ylva

Swedish real estate investor Niam has acquired the three-star, 178-room Citybox Helsinki hotel, along with 57 residential apartments, from Finnish real estate investor Ylva. The property is situated in Helsinki’s Hakaniemi area, around 20-minutes’ walk from the city centre. The hotel and apartments were completed in 2024 and are part of the Lyyra development, which also includes restaurants and commercial premises. The building has been awarded the LEED Platinum certificate. 

InterSPA acquires former Dorint Seehotel & Resort Bitburg Südeifel in Germany

German recreational facility developer InterSPA Group has acquired the former four-star, 157-room Dorint Seehotel & Resort Bitburg Südeifel. The hotel closed in 2022 and is situated by the Bitburg Reservoir in southern Germany’s Biersdorf am See, around 30 kms from the border with Luxembourg. The new owners plan to extensively renovate the property and turn it into a modern family and wellness resort with various recreational facilities and F&B outlets. At the same time, the Bitburg Reservoir is being sustainably restored to allow for safe swimming in the future.

Turenne Hôtellerie acquires Hôtel Novel - Restaurant La Mamma in Annecy, France

Turenne Hôtellerie, the hotel investment arm of French private equity firm Turenne Groupe, through its Turenne Hôtellerie 3 fund, has acquired the three-star, 68-room Hôtel Novel - Restaurant La Mamma in Annecy, France. The property is situated in northern Annecy, around 35-minutes’ drive south of the Swiss city of Geneva. The hotel includes a restaurant, bar and three meeting rooms. Turenne will begin renovations of the hotel by the end of 2025 to enhance its service offering. This acquisition marks the fund’s sixth investment.

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