INVESCO COMPLETES PURCHASE OF 13 HOTELS IN GERMANY AND THE NETHERLANDS FROM APOLLO

Invesco Real Estate has completed the acquisition of a 13-property (2,816 guest rooms) European portfolio for €530 million (€188,000 per room) from investment funds run by Apollo Global Management. The hotels are all operated under InterContinental Hotels Group brands and include 11 properties across Germany (the 285-room Crowne Plaza Hamburg – City Alster, the 232-room Crowne Plaza Heidelberg City Centre, the 582-room Holiday Inn Munich – City Centre, the 256-room Holiday Inn Express Berlin City Centre, the 107-room Holiday Inn Express Cologne – Mülheim, the 110-room Holiday Inn Express Cologne – Troisdorf, the 107-room Holiday Inn Express Dortmund, the 150-room Holiday Inn Express Düsseldorf – City, the 186-room Holiday Inn Express Frankfurt Airport, the 175-room Holiday Inn Express Frankfurt Messe and the 120-room Holiday Inn Express Munich Messe) and two hotels in the Netherlands (the 242-room Crowne Plaza Amsterdam – Schiphol and the 264-room Holiday Inn Amsterdam). Invesco is placing the hotels in three different funds and it has formed a joint venture with Event Hotels to manage the portfolio.

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