The three new hotels are Hotel Occidental 1929 Barcelona, Vinnci Selección Málaga and Holiday Inn Express The Hague (Netherlands). The company has noted that the acquisitions, designed to offer a "strong" return profile to investors, highlight the fundamental attractions driving the COVID-19 recovery in the sector.
In Spain, Invesco believes that limited new supply in Barcelona should allow for a quicker market recovery compared to other locations. Demand in Malaga, meanwhile, has consistently outstripped supply since 2014 and the city was at the forefront of Spain's tourism recovery in 2021.
The acquisitions in Spain represent an opportunity for Invesco to acquire prime assets, centrally located, in two of the most dynamic markets in the country. “Each of them represents the best of their category, has a strong ESG profile and brings further diversification to Invesco's European hotel portfolio in terms of market segment, tenant profile and central location in two of the most dynamic markets in the world. country," they point out. And they add that each of them "represents the best in its category, presents a solid ESG profile and brings greater diversification to the Invesco hotel portfolio in terms of market segment, tenant profile and location."
In the Netherlands, Holiday Inn Express The Hague is a 123-room, upper-middle-range hotel with a strong international brand, which has been leased for 44 years to Westmont Hospitality, a long-term partner of Invesco.