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BC
Partners, Hova acquires 30 hotels. London-based BC Partners Real Estate and Paris-based Hova Hospitality is partnering with B&B Hotels to acquire a portfolio of 30 hotels in Germany from AccorInvest for an undisclosed amount. The portfolio is spread
throughout Germany and includes 2,308 rooms and will be run as B&B Hotels. The buyers said the hotels will undergo major renovations, including comprehensive energy efficiency upgrades and will be operated by B&B Hotels under a long-term lease. After
the deal, Hova Hospitality will have 120 B&B Hotels under management.
Selina’s
co-founders step down. Selina Hospitality’s co-founders, CEO Rafael Museri and Chief Growth Officer Daniel Rudasevski, have stepped down from their management positions according to one of the company’s strategic partners, Tel-Aviv-based Hagag Group.
Earlier this week, Israel-based Gabbay Properties and Development said that Selina had ceased all activities in Israel. In July, the Board of Directors of Selina filed a statement with the Securities Exchange Commission stating the company no longer has any reasonable prospects of avoiding
insolvency. Singapore-based Collective Hospitality acquired the majority of
Selina to try to salvage the “digital nomad” brand and expand its experiential-driven lifestyle portfolio for an undisclosed amount of money.
Collective told Hotel Investment Today that it plans
to cut corporate costs, pay off some partnership debt, and focus on driving occupancy with a much more exhaustive distribution approach. It said it has a six-month turnaround plan to clean up the balance sheet, implement cost controls and drive more
business through the door to break the 50% occupancy barrier.
More loan trouble for Ashford. Dallas-based REIT Ashford Hospitality Trust (AHT) had a $410 million loan for 17 hotels transferred to special servicing, this time for “imminent monetary default,” according to The Real Deal. The loan was first sent to special
servicing in April 2020 and was modified in February 2021. After AHT used its final 12-month extension last year, the loan is now due to mature in November. According to Morningstar Credit, the assets in the loan missed the underwriting figure by
14% in 2023 but saw occupancy rise to 71%. In July, the company, which has been selling assets and handing the hotel keys back to lenders in the past year as part of a plan to pay off its strategic financing, said it has a
“viable” plan to pay off the rest of its financing by the end of this year.
Hospitality veteran Peek joins JLL. JLL’s Hotels & Hospitality group announced that Daniel C. Peek has joined the firm as president of JLL Americas region. Over the course of his career, Peek has completed nearly $60 billion in investment sales, debt and structured
finance transactions. He will be based out of JLL’s Tampa office and will report to Americas Capital Markets CEO, Mark Gibson, partnering with Kevin Davis, Americas CEO for JLL’s Hotels & Hospitality group. Before joining JLL, Peek served as president
and COO at Hodges Ward Elliott, where he led a global team responsible for executing institutional-grade commercial real estate transactions. He also worked for HFF and co-founded the boutique firm Regent Street, an affiliate of The Plasencia Group.
Wild Air
adds in NC. Wellesley Hills, Massachusetts-based Wild Air Ventures has acquired 30-key The Greystone Inn in Lake Toxaway, North Carolina, from Geoffrey and Shannon Ellis for an undisclosed amount. The couple acquired the hotel in 2017 and reopened
it in 2018 after an extensive renovation. At closing, Wild Air Ventures will transition management to New York City-based Hay Creek Hotels and Restaurants.
Harborview
acquires 2 in Florida. Harborview Capital Group has acquired two Marriott properties in Ocala, Florida. Harborview closed on a $24.5 million loan to support the acquisition and renovation of a 169-key Courtyard by Marriott and an 87-key Residence
Inn by Marriott. Harborview Capital Group acquired the portfolio from American Hotel Income Properties for $26.5 million. Renovations are expected to be completed by the end of 2025. Miami-based BridgeInvest assisted Harborview with the financing.
Dimension
adds in Charlotte. Fort Lauderdale, Florida-based management company Dimension Hospitality is adding the 82-key Fairfield Inn & Suites Charlotte Arrowood to its portfolio. The hotel’s owner, Shree Tulja Hotels, is in the final stages of a renovation
to the property.
Adele
drives Munich’s growth. The singer Adele’s 10-day residency drove significant performance growth for Munich’s hotel industry, according to the latest data from CoStar. Adele performed a total of 10 nights at the Messe München, pushing double-digit
growth across the August metrics: occupancy (up 15.9% to 77%), ADR (up 46.6% to EUR159.04) and RevPAR (up 69.9% to EUR122.46). The ADR and RevPAR levels were the highest for any August on record in Munich, while occupancy was the highest for August
since 2017.
Interval
adding 6 Blue Diamond resorts. Miami-based travel membership company Interval International is adding six all-inclusive resorts within the Blue Diamond Resorts portfolio to its global exchange network. The resorts are in Mexico and the Dominican Republic.
Dalata
sells in Ireland. Dublin-based Dalata is selling the Maldron Hotel in Wexford, Ireland, to Dublin-based Neville Park Hotel Group for an undisclosed amount. The deal is expected to be completed by November 5. Neville Park Hotel Group already operates
the Riverside Park Hotel in Enniscorthy and the Crown Quarter in Wexford.
New
Oberoi in London. Mumbai-based EIH is opening a new Oberoi Hotel in London. The company plans to incorporate a new entity in the UK with an authorized share capital of £30m ($39.63 million), with EIH and its subsidiaries holding a 51% stake. The hotel
is scheduled to open in March 2028.