Europa Capital checks into prime Warsaw hotel
Europa Capital (“Europa”) and WX Management Services (“WXMS”) announces that it has completed the acquisition of the Radisson Blu Centrum Hotel (“Radisson”) in central Warsaw.
The Radisson is a 311 room, four-star hotel with conference facilities, restaurants and leisure facilities including a gym, swimming pool and spa and is located in the heart of Warsaw’s CBD.
WXMS advised Europa in the process, co-invested in the transaction and will provide ongoing Asset Management Services for the Project.
Robert Martin, Co-Founding Principal and Head of Central Europe at Europa commented: “The Warsaw hotel market is currently experiencing a period of demand supply imbalance. This is a fantastically well-located asset in Central Warsaw with a very strong performance track record. We have experience in this sector with our successful refurbishment of the Sobieski Hotel and are teaming up with the same partner in WX Management Services to undertake a comprehensive refurbishment and to drive performance. We will be working in close co-operation with Radisson, who will continue to operate the hotel”.
James Farmer, Director of Acquisitions, Central Europe, commented: “This investment not only offers Europa stable, income led returns, but also the opportunity to significantly improve performance of the investment through refurbishment and operational efficiency in what is generally a growing hotel environment. The asset has been secured at an attractive price when compared to current pricing levels in other sectors in this market. Furthermore, this acquisition builds on Europa’s excellent track record of securing truly ‘off market’ investments that are ‘under the radar’ of our competitors.”