Invesco Real Estate, acting on behalf of clients of CBRE Global Investment Partners, has acquired QO Hotel located in the Amstel area of South-East Amsterdam, The Netherlands. The 23-storey hotel, which was designed and developed by Amstelside B.V., will be managed by international hotel group, IHG.
Marc Socker, Managing Director – Hotel Fund management, Europe at Invesco Real Estate commented: “The opportunity to work with our partners, with their in-depth local knowledge and expertise, and our investor to deliver such an exciting, first-of-its-kind, best-in-class “lifestyle destination” hotel concept into what Invesco regards as one of the strongest hotel markets in Europe is fantastic. The QO Hotel Amstelkwartier is a modern, lifestyle hotel with floor to ceilings windows, a strong food and beverage offering, and an urban farm on the roof which supplies the hotel’s restaurant and bar. Amstelkwartier is, in our view, an excellent location with easy access to Schipol Airport, one of Europe’s main gateway airports, and within easy reach of the city centre via public transport. The location is also benefiting from a redevelopment programme, being transformed from a light industrial area into a trendy, urban location.”
Sander van Riel, Head of Continental Europe, CBRE Global Investment Partners said: “The acquisition of the QO Hotel Amstelkwartier is in line with a key GIP strategy – to acquire well-located hotels in liquid markets. As one of the core hotel markets in Europe and the fifth most visited city in Europe, Amsterdam continues to perform well with robust market fundamentals which incorporate a relatively balanced mix of both corporate and leisure demand.”
Bart van de Kamp, Shareholder representing Borealis Hotel Group on behalf of Amstelside B.V. commented: “What we have created with the QO concept is a sustainable lifestyle destination for both travellers and the local community with a live/work/play retreat housed in a unique and remarkable living building. Our vision, which visionary Xander Bueno de Mesquita and shareholders Klaus Vink and myself have, is to energise, inspire and delight, thus providing a new experience which leads the way for the future of hospitality.”
The QO Hotel Amstelkwartier features 288 rooms, conference facilities, a “destination” restaurant and rooftop bar with 360° views over Amsterdam. Its “green” features, which contribute to the building’s ambition to be platinum-LEED certified, include sustainable materials for all construction and day-to-day operations; a green roof; energy and water efficiency; as well as lower waste and carbon emissions.