Ifeoluwa Taiwo

2 weeks ago | hospitalityinvestor.com | Ifeoluwa Taiwo

Scottish hotel group Crerar Hotels has secured £40 million of funding with HSBC UK to refinance nine hotels in Scotland and one in the Lake District. Teaser: The cash will be used to refinance nine hotels in Scotland and one in the Lake District. Owned by private funds managed by Blantyre Capital, Crerar Hotels operates a collection of four and five-star boutique hotels and spas across Scotland including Fonab Castle which was acquired in 2021 and Dunkeld House Hotel.

2 weeks ago | hotel.report | Ifeoluwa Taiwo

Market on the brink of changeWhile Germany’s hotel market has long been viewed as a cornerstone of continental Europe’s hospitality sector, its post-pandemic recovery has lagged behind its neighbours, with lethargic trading performance and a lack of transactional activity. "Germany's trading performance has been slow to recover to pre-pandemic levels," notes Will Duffey, head of EMEA Hotels & Hospitality Capital Markets at JLL.

2 weeks ago | hospitalityinvestor.com | Ifeoluwa Taiwo

SC Capital Partners has acquired a hotel in Kagoshima, Japan through its Japan Hospitality Fund I. Located in central Kagoshima, the 165-room hotel will undergo a comprehensive rebranding strategy, operational enhancements, refurbishment and asset enhancement initiatives. As part of its repositioning strategy, the hotel will be rebranded as an Oriental Express hotel, a brand under affiliated entity Hotel Management Japan, which is set to take on the hotel’s operations.

2 weeks ago | hotel.report | Ifeoluwa Taiwo

The sale price of £7.8 million represents a net initial yield of 7.65 per cent including rental top-up, or 6.59 per cent excluding top-up. Premier Inn Hotels Limited has a 25-year lease with a passing rent of £544,411 per annum which expires in September 2040, with a parent guarantee from Whitbread Group. The tenant has a break option in year 10, and the lease had around 10.5 years term certain at the time of sale.

2 weeks ago | hospitalityinvestor.com | Ifeoluwa Taiwo

French SCPI fund Iroko Zen has purchased a Premier Inn Hotel in Sunderland. Located in the city centre at 1-3 Hind Street, the hotel comprises 125 bedrooms and a Thyme Bar & Grill arranged over ground and five upper floors. The sale price of £7.8 million represents a net initial yield of 7.65 per cent including rental top-up, or 6.59 per cent excluding top-up.