CBRE Hotels advise on Apollo's acquisiton of Pan-European hotel portfolio valued at €425 million

LONDON – 21st May 2014 -  CBRE hotels team is pleased to announce that it has advised Apollo Management International, a subsidiary of Apollo Global Management, on the acquisition of a substantial pan-European hotel portfolio sold by Canada based Ivanhoé Cambridge.
The transaction comprised 18 hotel assets, totaling 3,878 bedrooms spread across 14 cities in Germany, France, The Netherlands, Belgium, Spain, and Austria. All of the hotels are branded Crowne Plaza, Holiday Inn or Holiday Inn Express.

Craig Millward, Director, Buy Side advisory, commented that “the buyers of today (especially for the larger transaction volumes) are typically private equity clients who understand debt but lack hotel sector specific knowledge. Our advice inevitably talks to value but also covers issues such as alternative branding scenarios, operating structures, capital expenditure considerations and exit strategy. The latter is especially relevant as the hold period of these investors is usually no more than three to five years.”
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