In Brief: HVS reports on key hotel sales and investment activity across Europe for the week ending 19 June 2026
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Zurich Marriott – Image Credit Marriott International
HVS Hodges Ward Elliott brokers the sale of the Zurich Marriott
HVS Hodges Ward Elliott is pleased to have successfully arranged the sale of the 266-room, five-star Zurich Marriott Hotel in Switzerland to Pictet Alternative Advisors, on behalf of its Elevation II direct real estate fund. Pictet partnered with Swiss asset manager Vertell Asset Management in the acquisition. Benefitting from a prime city-centre location and distinctive tower design, the landmark hotel is one of Zurich’s premier hotel assets and the largest five-star property in the city centre. It includes two restaurants, a bar, cigar lounge, executive lounge and 15 meeting rooms. A four-year phased renovation programme is currently underway across the 266 guest rooms, with the last 63 rooms set to be renovated during Q1 2027. Marriott International manages the property under a long-term management agreement. HVS Hodges Ward Elliott acted as exclusive advisor to the seller.
Ironstone and Ogilvy acquire 11 Pentahotels from Aroundtown
American real estate investment firm Ironstone Group and London-based Ogilvy Management last month acquired a portfolio of 11 Pentahotel-branded hotels (1,808 rooms) in Germany, Belgium and France from German real estate company Aroundtown SA, for an amount reported to be around €275 million (€152,100 per room). The portfolio includes six hotels in Germany (1,125 rooms), 4 hotels in Belgium (497 rooms) and one hotel in France (186 rooms). Specific locations include Paris Charles de Gaulle Airport, Brussels City Centre and Wiesbaden. The hotels are set to be converted to IHG’s Holiday Inn, Voco and Garner brands and operated by Luxembourg-based operator Bralower & Loewe Hospitality Partners under long-term franchise agreements.
Millemont acquires Courtyard by Marriott Oxford City Centre from Dominus
London-based property investment firm Millemont Capital Partners has acquired the four-star, 160-room Courtyard by Marriott Oxford City Centre in the UK from British hotel developer and operator Dominus Real Estate for £74 million (£462,500 per room). The property is situated in central Oxford, halfway between the main railway station and the Westgate shopping centre. The hotel includes a restaurant, bar and meeting room. Dominus acquired the vacant industrial property in 2014 for conversion into a hotel. British operator Troo Hospitality will operate the hotel under a Courtyard by Marriott franchise.
Eternam acquires Grand Hôtel des Balcons in Paris
French investment firm Eternam, on behalf of its tenth alternative hotel investment fund, the FPCI Odéon Saint-Germain, has acquired the two-star, 49-room Grand Hôtel des Balcons in Paris, France, for €26 million (€531,000 per room), from two private owners. The property is situated in Paris’ sixth district, between Notre-Dame Cathedral and Luxembourg Park. Eternam plans to fully renovate and reposition the asset as a four-star hotel. French operator Hôtels en Ville will oversee the renovation and then operate the hotel.
Art-Invest acquires Four Points Flex by Sheraton Essen, Germany
German investor Art-Invest Real Estate has acquired the three-star, 174-room Four Points Flex by Sheraton Essen in Germany, from an undisclosed institutional fund. The property is situated near Essen Central Station in western Germany, close to Düsseldorf. The hotel opened in 2016 and includes a restaurant, bar and five meeting rooms. German operator The Chocolate on the Pillow Group, backed by Art-Invest Real Estate, will continue managing the hotel.
Switch Management acquires ibis Styles Bournemouth in the UK
UK asset management company Switch Management has acquired the three-star, 76-room ibis Styles Bournemouth in Dorset on the south coast of England, out of administration. The property is situated in Bournemouth’s East Cliff area near Bournemouth Beach and includes a restaurant, bar and meeting room. Last year, Switch also acquired the four-star, 109-room Queens Hotel & Spa in Bournemouth and invested £2 million in its refurbishment.
HVS is the world’s leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.