Hotels at Disneyland Paris sold for €240M

Hotels at Disneyland Paris sold for €240M

A joint venture led by UK-based private equity real estate fund manager Benson Elliot Real Estate Partners V, LP and Schroder Real Estate Hotels has acquired three hotels totalling 1,183 rooms in Disneyland, Paris.

The themed hotels at Disneyland, Paris which are adjacent to one another, were acquired off-market in two separate transactions for a total investment of circa €240 million.

Dream Castle and Magic Circus, both four star hotels, were purchased from Austrian real estate developers Warimpex / UBM, while Explorers was purchased from a JV managed by SREH. The investment is structured as a 50/50 JV between Benson Elliot and a consortium of private investors advised by SREH.

“The Portfolio represents a collection of high-quality, cash-flowing assets being acquired at a substantial discount to replacement cost. The hotels present opportunities to optimise value and grow income through targeted refurbishment programmes. Benson Elliot has built a strong track record in the hotel sector, with over €1 bn in hotel investments and dispositions in just the last five years. This transaction marks another partnership with the former Algonquin team, with whom we have worked successfully in the past,” said Marc-Olivier Assouline, Benson Elliot Principal.

The JV has engaged SREH as the Portfolio’s manager.