On behalf of Aprirose Real Estate Investment, Jones Lang LaSalle’s Hotels & Hospitality Group is pleased to announce the sale of the Hotel Ibis Hague City Centre, the Netherlands, to the Internos Hotel Real Estate Fund. The 197-bedroom hotel, leased to Nhere B.V., Badhoevedorp, guaranteed by Accor SA, indexed to 75% of Dutch CPI had an unexpired term of 12 years.
The sale of the hotel for €15.5 million, reflects a gross yield of approximately 7.36%.
Accor, is present in 92 countries with more than 3,500 hotels and 450,000 rooms and is the market leader in Europe. As at March 2013, Fitch Ratings assigned a “BBB- outlook stable” rating to Accor and Standard & Poor’s a “BBB- outlook stable” rating.
Adam Wilson, Vice President for Jones Lang LaSalle’s Hotels& Hospitality Group said: “The sale is in line with Aprirose’s business plan after owning the asset for eight years and is indicative of resilient institutional appetite for hotel investments in city centre locations let to strong covenants such as Accor SA.”