A 219-room hotel in Amsterdam has been sold by Starman UK Company Services for €50m (£33.5m).
A group of Dutch investors purchased the Le Méridien Apollo, located in the city’s museum quarter close to the RAI Congress and Exhibition Centre.
The property will be leased to European Hotel Management (EHM), who will operate the hotel with a franchise agreement from Golden Tulip, with the hotel re-branded as the Golden Tulip Apollo Amsterdam.
European Hotel Management’s managing director Bas Tolmeijer said: “With this acquisition our group has reinforced its strategy for further growth”.
Chris Martin, senior vice president at Jones Lang LaSalle Hotels said: “This transaction underlines Amsterdam’s position as a strategically important and highly sought-after hotel investment destination, which is one of the strongest performing hotel markets in Europe.”
Starman UK Company Services is a jv between Lehman Bros and Starwood Capital.
JLL acted for the vendor.
References: EGi News 27/09/06
