HVS HWE Exclusive Advisor for Fletcher Hotels in the Netherlands
FEBRUARY 19, 2008. HVS Hodges Ward Elliott (HVS HWE)today announced it has been appointed the exclusive advisor for a sale/leaseback transaction for the 23-hotel portfolio owned by Dutch hotelier Fletcher Hotels. The 3- and 4-star hotels, comprising 879 rooms, are located throughout the Netherlands, from the Wadden Islands in the north to Valkenburg in the south.
"Fletcher has developed an efficient, high-tech operating platform that could be rolled across Europe and generates excellent cash flow per room," said Rudy Reudelhuber, HVS Hodges Ward Elliott managing director. "Many of the hotels are irreplaceable assets due to their location in prime, established neighborhoods in their respective markets, which means high barriers to new competition. This portfolio is an excellent opportunity for an investor to acquire a significant Dutch real estate portfolio at an attractive yield with a tenant that has healthy rent coverage.
"The Netherlands' economy remains strong with positive operating figures for the hotel industry there, as well as throughout all of Europe," he said. "This transaction offers excellent opportunities for both the buyer and seller."
HVS Hodges Ward Elliott will manage the transaction out of its London office. The company acts as sell-side advisor in European hotel real estate transactions. Additional information about the company may be found at www.hvshwe.com.
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