The Netherlands: Tristan Capital Partners (TCP) using its EPISO 5 Fund has purchased the QO Hotel in Amsterdam for EUR92.1 million..
The 288-key resort was among the initial resorts in Europe to accomplish LEED Platinum status. It is located in the Amstelkwartier, part of an urban sustainability effort led by the city of Amsterdam..
Secret sustainable attributes consist of a modern roof greenhouse, a living appearance, and 1,600 thermal panels which respond and also adapt to external climates.
QO will be repositioned under the German-based Ruby Hotels brand name, which has 14 resorts in operation and also 21 in development throughout Europe..
As part of the restoration, Ruby Emma will certainly consist of a bar and dining establishment and all public locations as well as facilities will be upgraded..
Kristian Smyth, executive director at TCP, stated: “This procurement further developments our bigger hotel strategy of acquiring premium quality properties in excellent locations handled by best-in-class operators. Amsterdam was recognized as a target market for us and via a combination of the quality of the possession and also its place, we expect the asset to bring in an also mix of tourist and also organization traveling. On conclusion of business plan, Ruby Emma will certainly be one of the most attractive hotel offerings in the upper midscale market in Amsterdam.
” We anticipate partnering with such a high-quality operator in the Ruby Group and taking this partnership forward.”.
Michael Struck, CEO and founder of Ruby Hotels, added: “We’re delighted to be working with Tristan’s fund, our companion of option, as we continue our development throughout Europe. Ruby’s lean high-end ideology addresses a growing specific niche in Amsterdam’s very competitive resort market.
The Fund was advised by Greenberg Traurig, PWC, Drees & Sommer, HVS, and also Longevity Partners.
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