FATTAL HOTELS SELL THE LEONARDO ROYAL HOTEL IN MUNICH TO INVESCO

Fattal Hotels, based in Tel-Aviv, has sold the 424-room Leonardo Royal Hotel Munich for €157 million (€370,000 per key) via a sale-and-lease-back. The hotel, which is located next to Munich’s Olympic Park, will continue to be managed by Fattal under a 30-year lease agreement, subject to an annual rent equal to the higher of €7.2 million (4.5% yield) or 32% of the hotel’s total revenue.

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