Invesco adds three hotels in deals worth €100m

Invesco’s real estate arm real has added three hotels to its European Hotel programme since the start of the year.

The three properties are: Holiday Inn Express The Hague, Hotel Occidental 1929 Barcelona and Vinnci Selección Malaga.

In total, the three acquisitions are valued at approximately €100 million.

Invesco’s investment case

Invesco said it picked each hotel for a specific reason:

  • Hotel Occidental 1929 Barcelona - restrictions on new supply in Barcelona should lead to a faster market recovery compared to other locations.
  • Vinnci Selección Malaga - demand has outgrown supply consistently since 2014 and the city led Spain’s tourism recovery in 2021.
  • Holiday Inn Express The Hague - strong international brand, leased for a further 44 years to Westmont Hospitality.

The team behind the European Hotel programme has allocated over €1.8 billion equity into the sector, managing 52 different hotel investments across 11 countries and 31 different brands.

What They Said

David Kellett, managing director – hotel transactions at Invesco said: “We have seen a strong, post-Covid recovery in European travel and expect this momentum to improve further as we look across 2022 and beyond, when we expect to see further compelling acquisition opportunities.”

Chris Brassington, senior director – fund management at Invesco, said: “These latest additions in the Netherlands and Spain represent the very best of the European hotels market and we fully expect to make additional investments with the aim of creating further value. Our intent is to create investments that have potential to deliver long-term compound growth above the market to benefit our investors."