Invesco Real Estate is expanding its European portfolio with the addition of three assets, two in Spain and one in the Netherlands.
Invesco Real Estate has acquired three hotels since the beginning of the year in order to complete its European hospitality portfolio. These assets are valued at €100 million and are divided between Spain and the Netherlands. The three properties are located in Barcelona, Malaga and The Hague.
The two hotels in Spain are the Occidental Barcelona 1929, which will open in 2019 and has been managed by Barceló Hotel Group since last year, and the Vincci Selección Posada del Patio in Málaga, a 5-star hotel to be renovated in 2021.
According to Invesco Real Estate, the acquisitions in Spain represent an opportunity to acquire prime assets located in the centre of two of the country's most dynamic markets.
The property acquired in the Netherlands is the mid/high class Holiday Inn Express The Hague, which has been leased for 44 years to Westmont Hospitality.
We have seen a strong recovery in travel in Europe following COVID and we expect this momentum to continue through 2022 and beyond, so we expect to see further attractive acquisition opportunities.
David Kellett, CEO of hotel operations at Invesco Real Estate
