Hot.E announces Deal of the Year Award winners

Martha Elwell By Martha Elwell
27 September 2017 | Updated 27 September 2017

UK: Hotel Investment Conference Europe names top investments

Invesco Real Estate Portfolio sale to Pandox was named Merger & Acquisition/Portfolio of the Year and Le Meridien Etoile was named Single Asset Transaction of the Year at the Hot.E hotel investment conference 2017.

Global real estate investment manager Invesco Real Estate announced the sale of seven hotels from its second dedicated pan-European hotel fund. The portfolio was sold to Pandox, a listed Swedish hotel property company for €415m.

The transaction was notable for the brevity and efficiency of the transaction due to the excellent state of repair of the hotels. Invesco sold the the portfolio off-market.

Le Meridien Etoile, the largest hotel in Paris, was sold in November 2016 by Mount Kellett and Almus Capital to Henderson Park. The hotel underwent a refurbishment program of over €25m whilst the sale process was ongoing.

Despite Paris's tourism market being severely affected by terrorist attacks in the city, the sale was highly competitive and triggered interest from international investors. Henderson Park won the race and completed the transaction for €356m.

Charles Human of HVS Hodges Ward Elliott chaired the Merger & Acquisition/Portfolio of the Year Award committee and Chris Day of Christie and Co chaired the Single Asset Transaction of the Year Award committee. The committees were made up of hospitality industry leaders.

The Hot.E Deal of the Year Awards were established to recognise influential hospitality industry investments occurring in the European marketplace.

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