Savills advises Avignon on acquisition of Hyatt Place Amsterdam Airport hotel

Avignon Capital, a European real estate investment company, has acquired the Hyatt Place Amsterdam Airport Hotel for € 53.8 million, thereby expanding its presence in the Netherlands. Hillgate Investment is both the seller and the developer,

The Hyatt Place Airport Amsterdam Hotel is located in the business district of Hoofddorp, within a five-minute drive from Amsterdam Airport Schiphol; the third most busiest and fastest growing airport in Europe.

This modern hotel was completed in 2014 and comprises 8,336 sq m. The 13-floors comprise 330 guest rooms and a select-service business model was designed to minimise operating costs while providing the modern convenience that modern-day travellers expect.

This is the third acquisition of Avignon Capital in the Netherlands after the acquisition of NH Hotel Amsterdam in April 2017 and the OPCW headquarters in May 2017 in The Hague. Avignon Capital has identified the Netherlands as a focus area within its European expansion strategy, where it sees multiple investment opportunities in real estate across different sectors.

Patrick Flaton, CFOO at Avignon Capital, states: “Avignon Capital has taken a unique opportunity to acquire a modern hotel that is operated by a renowned brand. We are experienced in buying hotels at strategic locations in their respective cities, such as the Meininger hotels in Berlin and Frankfurt. We are very pleased that we can add the Hyatt Place Amsterdam Airport Hotel to our investment portfolio. The Netherlands is a market where we see great value and we will continue to explore investment opportunities in the region.”

Volker Wessels was responsible for building the hotel. CBRE Hotels advised the seller. Avignon Capital was advised by Haagstate Advocaten (legal) and Savills (technical).