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News Release


Positive investor sentiment for quality hotels in Amsterdam

According to Jones Lang LaSalle Hotels’ Hotel Intelligence report for Amsterdam

London, 26th April 2012- In the last two years, the Dutch hotel investment market saw an uplift in activity, driven by the country’s stable economic environment and growth in trading fundamentals according to Jones Lang LaSalle Hotels’ Intelligence report for Amsterdam.  Investment activity was concentrated on quality assets in Amsterdam, with German funds being one of the most active buyer types.

In September 2011, Union Investment bought the Crowne Plaza Amsterdam South for €29 million and in March 2012, WestInvest Gesellschaftfür Investmenfonds mbH acquired the Amsterdam American Hotel for €58.5 million. Other notable transactions included the sale of the Holiday Inn Eindhovenfor €22.5 million to Invesco Real Estate in March 2012. Jones Lang LaSalle Hotels acted as advisor to seller in the sale of the Amsterdam American Hotel and the Holiday Inn Eindhoven. 

George Nicholas, Executive Vice President Jones Lang LaSalle Hotels said: “Despite some disappointing trading results at the beginning of the year, investor interest for quality hotels in Amsterdam remains high and investors are willing to pay a premium for market leading hotels. Regional hotels will attract some investor interest depending on the price offered and the opportunity to reposition the asset. We expect German funds and private equity firms to be the principal buyers of Dutch hotel real estate in 2012.”

One of the most recent transactions has been the acquisition of 50% of the shares in the Park Plaza Victoria Amsterdam, the Park Plaza Amsterdam Airport, the Park Plaza Utrech and the art’otel Amsterdam (currently under construction) by PPHE Hotel Group (Park Plaza Hotels). The company already owned 50 % of the shares in these hotels and acquired the remaining for a total of €26.5 million. The share acquisition was conditional and the transaction is expected to be completed by the end of May 2012.