Avignon Capital, the European investment and asset management firm has acquired the Hilton Hotel, located in The Hague for €70.25m, expanding the firm’s footprint in the Netherlands and in the Hotel sector.The hotel opened in 2010 within the former Royal Dutch headquarters building. The hotel is a contemporary, 5-star, hotel that consists of 195 large guest rooms, an Executive lounge, fitness area, high-class restaurant, cocktail bar, Starbucks Café and state-of-the-art meeting facilities.
The property is situated within walking distance of The Hague’s major commercial hub, including the Criminal Courts, Embassies, and transport hubs. The city is the political heart of the Netherlands and boasts global occupiers such as the International Court of Justice and the Royal Dutch Shell headquarters. As such, a large part of hotel demand is driven by its large catchment of legal, criminal and corporate customers.
The hotel is operated on a Management Contract to Hilton Worldwide and is trading under the globally recognized Hilton Brand. Hilton is one of the largest hotel brands worldwide, with more than 570 locations.
The sellers were Hillgate Development and the Bon Groep. The companies were the developers of this five-star hotel as well as the owners during its operation since 2010.
This deal marks Avignon Capital’s fourth hotel acquisition in the Netherlands, following the purchase of the Staybridge Suites hotel (part of The Intercontinental Group) in January 2019.
Source : Company