🏨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.