Foruminvest has completed the sale of the Ibis Styles hotel in Rotterdam to Corum Asset Management for an undisclosed amount.
The deal is believed to be one of the largest hotel transactions of 2023 in the Netherlands.
The 250-room hotel is located in Rotterdam, next to the main entrance of the Ahoy Convention Centre, and is fully leased to HR Group for a minimum of 25 years.
The hotel operations of the ibis Styles in Rotterdam began in September 2023 with an occupancy rate of 95 percent in the first weekend.
What they said
Mélanie Ballu, investment director at Corum said: "This Core investment aligns seamlessly with our long-term vision. The transaction with Foruminvest has been very successful and smooth."
Aerjen Koeneman, managing director at Foruminvest NL, said: "This turnkey development of the ibis Styles hotel is a perfect example of our hotel strategy; vibrant locations, attractive brands, and experienced tenants. This greatly appeals to investors in the hotel sector. This first sale to Corum marked the beginning of a successful partnership."
David Ermia, CEO of Foruminvest, said: "Foruminvest has its roots in retail developments and has realised leading projects in the retail sector in Europe for decades. In recent years, the focus has shifted to hotel projects. The experiences gained in retail projects have proven to be very valuable for the hotel sector. Foruminvest is committed to becoming one of the key players in the hotel real estate sector in Europe, with the hotel development in Rotterdam Ahoy being a good example of what's in the pipeline. Soon, we will unveil a number of new hotel developments, including a 5-star hotel in an iconic location."