FDM MANAGEMENT BUYS TWO EUROPEAN PORTFOLIOS
Hotel investment vehicle FDM Management (which was created by Foncière des Régions) has acquired two portfolios comprising 18 properties across Germany, France and Belgium for €936 million. FDM has signed a preliminary purchase agreement for nine hotels in city centre locations in Berlin, Dresden and Leipzig in Germany. This portfolio comprises 4,131 guest rooms and the hotels are operated under the Park Inn, Radisson Blu, Westin, Pullman, Mercure and ibis brands. The deal is expected to close this summer and Event Hotels will continue to manage the portfolio. The second transaction includes nine hotels in historic city centres in France and Belgium. With a total of 650 rooms, the hotels are affiliated with the Autograph Collection, Best Western, Crowne Plaza and Holiday Inn chains. These properties are run by FDM Management.