Invesco Real Estate Sell 175-Key Mercure Bratislava Centrum to CPI Property Group
Main Photo: The Mercure Bratislava Centrum
Date: December 2021
Name: The Mercure Bratislava Centrum Hotel
Location: Central Bratislava, Slovakia
Number of Keys: 175
Seller: Invesco Real Estate, who acquired the hotel whilst still under construction, together with four other Accor hotels in 2010 for €154m, with €17m reported for the Mercure
Buyer: CPI Property Group, owner of 41 hotels across CEE
Global real estate investment manager Invesco Real Estate have sold the Mercure Bratislava Centrum Hotel to CPI Property Group.
The Mercure Bratislava Centrum Hotel is centrally located in Slovakia’s capital city of Bratislava, only a short distance from the main central station and the historic city centre. The property offers 175 guest rooms, contemporary conference facilities, as well as a restaurant and bar area. Due to the sale vacant possession the property offers various opportunities to the new owner.
The transaction was supported by hotel property specialist Christie & Co, who identified a suitable buyer for Invesco Real Estate within the framework of a structured sales process. “The hotel currently fits very well with the demand profile of many investors, who are increasingly looking for value-add products in European capitals. As the Mercure Bratislava has a lot of potential with its size and the quality of the location and building substance, we faced strong investor demand and received multiple offers.” summarises Simon Kronberger, Director Austria & CEE.
The buyer, CPI Property Group, owns a total of 41 hotels across Europe and is one of the largest hotel investors in the CEE region. After the anticipated rebranding, the hotel will be operated by CPI’s internal management team.
Their hotel interests include the Amfora, Hvar Grand Beach resort and others in Croatia, Buddha Bar Prague, a number of Clarion hotels in Czech Republic and the MaMaison Izabella in Hungary.
After the COVID-related slowdown on the transaction market in 2020 and 2021, the strong interest in and sale of Mercure Bratislava Centrum Hotel underpins the attractiveness of the Eastern European hotel transaction market. “Especially in the second half of 2021, we see an increasing demand for hotel properties across Europe and expect to see several transactions to take place in the next months,” Kronberger concludes.
Price: Undisclosed
THPT Comment: Good acquisition for CPI, rapidly becoming one of the top hotels groups in the CEE.
First Seen: Property Forum EU
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