Ivanhoe Cambridge sells 18 European hotels to Apollo Global fund

Ivanhoé Cambridge completed the sale of an 18-hotel portfolio to Apollo European Principal Finance Fund II, an investment fund affiliated with American private equity firm Apollo Global Management.

The Montreal Gazette revealed that, while the terms of the deal were not disclosed, all 18 properties are European hotels. Eleven of the hotels are in Germany, two are in Spain, two are in the Netherlands and one each resides in Austria, Belgium and France. The properties operate under the Crowne Plaza, Holiday Inn and Holiday Inn Express flags.

JLL brokered the transaction. Hogan Lovells provided legal counsel to Ivanhoé Cambridge, and Ashurst was legal counsel for Apollo on the transaction, according to the Wall Street Journal. Ivanhoe Cambridge currently has $40 billion in assets, primarily located in Canada, the United States, Europe, Brazil and Asia, with a portfolio consisting mainly of shopping centers, office buildings and multi-residential properties.

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


“This transaction is in line with our strategy of rationalizing our overall hotel exposure and reinvesting our capital in our core asset classes and in key markets globally,” Sylvain Fortier, Ivanhoé Cambridge’s EVP, residential, hotels and real estate investment funds, told the Herald Online. “This sale brings to a conclusion a long-term investment for Ivanhoé Cambridge, and we are very pleased with the transaction process.

Suggested Articles

Radisson Individuals aims to bring independent hotels and local, regional chains into the global Radisson Hotel Group platform.

This role has continued to change with some revenue managers taking on leadership roles within hotel brand and management companies.

Nearly 60 percent of respondents are predicting a 50-75 percent decline in RevPAR versus budget for their entire portfolio.