Apollo Hotel, Amsterdam Sold for Approximately EUR50 mil
SEPTEMBER 28, 2006. One of Amsterdam's landmark hotels, the Le M'eridien Apollo, has been sold to a group of local investors by Starman UK Company Services Limited for a purchase price of approximately EUR 50 million. Jones Lang LaSalle Hotels advised the seller.
The purchasers (a group of Dutch investors) have leased the property to European Hotel Management, who will operate the hotel with a franchise agreement from Golden Tulip, with the hotel re-branded as the Golden Tulip Apollo Amsterdam.
Chris Martin, Senior Vice President at Jones Lang LaSalle Hotels said: 'This transaction underlines Amsterdam's position as a strategically important and highly sought-after hotel investment destination, which is one of the strongest performing hotel markets in Europe.'
With arguably the most attractive setting of any hotel in Amsterdam, the Apollo hotel commands a prime position with 219 rooms, in the "green heart" of city, with a stunning waterfront location overlooking the only point in the city where five canals meet. The hotel is just a short distance from Amsterdam's museum quarter and is very conveniently located for the RAI Congress and Exhibition Centre.
European Hotel Management's Bas Tolmeijer: 'We were very pleased with the support from Jones Lang LaSalle leading in finalising the deal in such short period. With this acquisition our group has reinforced its strategy for further growth'.
European Hotel Management is a Dutch company that was founded in 2005 and is specialised in operating hotels. The enterprise is owned and managed by hotel managers Willem Jan van den Dijssel, Bas Tolmeijer and Francesco Monaco.
Its portfolio currently contains four hospitality businesses, including the well-known health resort Thermae 2OOO in Valkenburg. The new acquisition means the fifth operation of European Hotel Management, whilst in the near future a number of further additions are expected.
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