TTW
TTW

Principal Real Estate Europe acquires Cour des Loges Hotel in Lyon

Friday, March 13, 2020

Favorite

Principal Real Estate Europe has acquired the Cour des Loges Hotel in Lyon for €24.5m on behalf of the Principal Hotel Real Estate Fund II. The company has decided on a long-term lease with the Radisson Hotel Group, and in cooperation with Radisson, will renovate and reposition the hotel under the Radisson Collection brand.

 

Jochen Schaefer-Suren, CEO, Principal’s Hotel and Leisure division, said that the Cour des Loges in Lyon is a unique hotel and a great acquisition for our Hotelfund II and they are thankful to their operating partner Radisson, one of the leading international hotel groups with a very strong covenant,  with whom they were able to sign a long-term lease agreement.

 

The location, paired with the quality of the asset and the potential of the planned renovation and repositioning, are exactly the kind of value-add hotel investments Principal is looking for. As a result, they are still looking for further hotel investments for Hotelfund II in 2020 and beyond.

 

The 60-room five-star hotel is located in the heart of the old town of Lyon, a UNESCO World Heritage listed district. It features two restaurants, a bar, a spa, several meeting rooms as well as a hidden garden.

 

The deal followed last month’s acquisition of the Ona Hotel Terra, in line with the fund’s strategy to acquire high quality three to five star hotels in strategic locations, in major cities across Europe with significant potential to increase value.

 

This hotel was marketed as part of a wider portfolio, before being selected by Principal as, it said, the asset most fitting for its strategy.

Share On:

Subscribe to our Newsletters

« Back to Page

Related Posts

Select Your Language

PARTNERS

AHIF
IITM
at-TTW

Subscribe to our Newsletters

I want to receive travel news and trade event update from Travel And Tour World. I have read Travel And Tour World'sPrivacy Notice.

Mar 26
March 26 - March 28
Mar 27
March 27 - March 30
Mar 27
March 27 - March 30
Mar 29