HVS HODGES WARD ELLIOTT ADVISES ON THE SALE OF FIVE BELGIAN HOTELS TO CTF DEVELOPMENT

HVS Hodges Ward Elliott is pleased to announce that acting on behalf of BRE Europe Hotel Holding and Alliance Hôtellerie, it has successfully arranged the sale of shares in the owning companies of five Belgian hotels to CTF Development. The properties are the 201-room Mercure Brussels Center Louise, 105-room Mercure Liège Centre, 101-room Mercure Leuven Center, 87-room Alliance Hotel Brussels Airport and 79-room Alliance Hotel Brussels Expo. All five hotels will be fully renovated and rebranded under the pentahotels brand, taking the total number of pentahotels in Europe to 24. Frankfurt-based CTF Development is owned by the Cheng family in Hong Kong.

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