TVHG Budget Hotel Group in the Netherlands sold
17-11-2015 - Colliers Hotels demonstrates cross border expertise with Netherlands hotel portfolio disposal
Colliers Hotels International team has advised on the disposal of 11 hotels in the Netherlands. The deal saw a ‘consortium of trade and financial investors’ purchase TVHG Budget Hotel Group from a jointly held company which is funded by Metric Capital Partners LLP and Hutton Collins Partners LLP. The deal price is undisclosed.
The 11 hotels are situated at key strategic locations primarily in and around Amsterdam, appealing to corporate, conference and leisure visitors. The TVHG portfolio comprised a total of 1,906 rooms occupying approximately 65,000 sq m.
In an example of Colliers Hotels working seamlessly across borders, the firm’s specialist hotels teams in both London and Amsterdam advised TVHG in the deal. “This landmark deal proves the exit for leasehold hotel transactions,” said Marc Finney, Head of Hotels & Resorts Consulting for Colliers International, who is based in London. “The deal brings our involvement with these assets full circle as our cross border team put together the initial funding for the deal in 2012 on behalf of the hotel entrepreneur, Bart van de Kamp. It is great that we have been able to help to bring this investment success story to such a positive conclusion having spotted the opportunity early on and having raised the initial funding for Bart van de Kamp, we are pleased that this has been such a positive result for all concerned”.
Dirk Bakker, Head of EMEA Hotels from Colliers International based in the Netherlands, added: “This deal has further consolidated our position as the leading specialist advisers to the hotel sector in the Netherlands. ‘The Consortium’ is expected to use their acquisition as a platform to further expand their interests in the Netherlands while Bart van de Kamp is understood to be looking at further leasehold development opportunities across Europe”.
Julian Troup, Colliers Hotels Head of UK Hotels, who also advised on the deal as part of the cross-border team, said: “The portfolio comprises 11 recently opened hotels and generated a great deal of interest from around the world; which is not surprising given the group offered 1,906 rooms in Amsterdam, one of Europe’s strongest hotel markets. The level of interest and offers demonstrated that investor demand remains strong for well-performing groups of this nature”.