Tristan Capital Partners has completed the €400m acquisition of the easyHotel chain.
The share capital of easyHotel group was acquired by Tristan Capital Partners’ opportunistic fund European Property Investors Special Opportunities 6 (EPISO 6) from a consortium of existing shareholders, including Citrus Holdco, a holding vehicle for Luxembourg-based real estate fund manager ICAMAP and Canadian institutional investor Ivanhoé Cambridge, and easyHotel founder Sir Stelios Haji-Ioannou, who held a 17.38% stake.
EasyHotel operates 48 hotels providing circa 4,700 rooms across 11 European countries including the UK, Ireland, France, Benelux, Spain and Switzerland.
The portfolio comprises a mixture of owned, leased and franchised properties and new hotels are currently under construction in Barcelona, Valencia, Alicante and Geneva.
Kristian Smyth, managing director, investments, at Tristan Capital Partners, said: “Tristan’s funds have emerged as a leader in the European budget hotel sector, with this transaction bringing the total committed hotel investments to more than €1bn to date. The easyHotel brand perfectly complements our growing platform with a compelling offering which offers great value in centrally located destinations.”
EPISO 6 was advised by BCLP, Cavendish, Deloitte, Workman and Savills.
