Le 25.07.24
EXTENDAM, 123 IM and their co-investors sell 3 hotels in Germany

🏨EXTENDAM, in collaboration with 123 IM and their co-investors, announces the sale of three Mercure hotels to their operating partner and co-investor somnOO. Located in North Rhine-Westphalia, in Hagen, Hamm, and Lüdenscheid, these hotels, totaling 458 rooms, have performed excellently throughout the investment cycle, achieving an IRR in line with expectations.

 

Acquired in 2018, these 4-star hotels offer large meeting spaces and multiple food and beverage outlets. This transaction demonstrates the strong potential for value creation in the hospitality sector.

 

🤝 The sale of this robust portfolio to somnOO confirms EXTENDAM’s commitment to value-add investments in European hospitality. Despite the challenges posed by the COVID period, the teams ensured solid performances, thus validating the initial investment strategy.

 

Read the full article on La Tribune de l’Hôtellerie