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Amsterdam

Holiday Inn Hotel Eindhoven sold to Invesco Real Estate

Hampshire Hospitality sells its 206-room hotel under a sale & lease back agreement


Amsterdam, 26th March 2012 - Eindhoven Holiday Inn Hotel, located on the Veldmaarschalk Montgomerylaan 1, Eindhoven, has been sold to Invesco Real Estate for € 22.5 million.  The sale is a ‘sale & leaseback’ deal whereby the vendor, Hampshire Hospitality has entered into a 25-year lease agreement with Invesco Real Estate. 

Etienne Verkerk, CEO of Hampshire Hospitality , commented: “The sale of Eindhoven Holiday Inn is in line with our future plans to further expand in Benelux. By selling real estate and leasing it back, we will be able to make capital available that will allow us to achieve our expansion ambitions. The fact that we have chosen a sale & lease back structure indicates that we are eager to hold on to this asset, which is conveniently located near downtown Eindhoven, close to Eindhoven airport and Central Station and in close vicinity to a number of major companies.”

The Holiday Inn Hotel benefits from a number of major corporations and institutes situated nearby such as Philips, ASML, the Technical University Eindhoven, the Beursgebouw and the PSV football stadium. For years, the Holiday Inn has been able to secure a stable, high occupancy rate. The 206-room hotel was entirely renovated in 2009. In collaboration with Linklaters, Jones Lang LaSalle advised the hotel’s owner and user, Hampshire Hospitality with a team of Capital Market experts from Amsterdam and Eindhoven in collaboration with their colleagues from Jones Lang LaSalle Hotels in London.

Nard Schuddebeurs, head of Capital Markets Residential, Retail and Hotels of Jones Lang LaSalle added: “During the past few weeks we have supervised the sale of the Eindhoven Holiday Inn and the Amsterdam American Hotel for Hampshire Hospitality. Signing both transactions in such a short time is an indication of the interest that real estate investors have in first class hotels.” Frans Landmeter, director of Jones Lang LaSalle’s Eindhoven office adds: “We’ve noticed that foreign investors are particularly interested in the hotel market. These parties’ portfolio often includes hotels in various countries. Therefore, it was essential for the sale of the Holiday Inn that potential buyers were approached internationally.”