Invesco Real Estate acquires three hotels in Spain, the Netherlands

Invesco Real Estate has added three hotels to its European hotel program in 2022, year-to-date, valued at a total of €100 million ($105 million).

The three hotel assets — the Holiday Inn Express The Hague, Hotel Occidental 1929 Barcelona and Vinnci Selección Malaga — have strong ESG profiles and bring further diversification to Invesco’s European hotel portfolio across market segment, tenant profile and location.

Holiday Inn Express The Hague is a 123-room, upper-midscale hotel, located in the Netherlands and leased to Westmont Hospitality, a long-term partner for Invesco, for 44 years.

Invesco said the acquisitions in Spain represent an opportunity to acquire prime city-center assets in two of Spain’s most dynamic markets. The company believes that restrictions on new supply in Barcelona should lead to a faster market recovery compared to other locations. In Malaga demand has outgrown supply consistently since 2014, and the city led Spain’s tourism