Taking a new step forward in the partnership with NH Hotel Group, Foncière des Régions has signed an agreement for the acquisition of four 4* hotels located in Germany and the Netherlands. NH Hotel Group will continue to operate these hotels on the basis of new sustainable leases. The final acquisitions, representing a total investment of €111m for Foncière des Régions, are planned between the end of 2018 and the start of 2019.
The properties, located in Berlin, Hamburg, Amsterdam and Amersfoort, were built or renovated after 2006, and total 637 rooms. Each property benefit from the fixed term 20-year lease.
"With this third joint operation, we are entering a new phase in our partnership with NH Hotel Group. It demonstrates our ability to adapt to each of our clients' strategies. We support them in their day-to-day and long-term development thanks to our detailed knowledge of the challenges they face. Our recognised know-how have enabled Foncière des Régions to become one of the largest institutional investor in hotel real estate in the world", commented Dominique Ozanne, CEO Hotels Foncière des Régions.
“The deal is in line with our strategy of maximizing profitability through successful hotel management model, while at the same time taking advantage of opportunities to refine the Group’s asset structure and boost growth through asset-light agreements. In this sense we hope that our partnership with Foncière des Regions will help us to consolidate our presence in the markets we've already established ourselves in, as well as open doors to the other key destinations in France or UK”, said Ramón Aragonés, CEO of NH Hotel Group.
