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SINGAPORE, 19 January 2017 – M&L Hospitality, the Singapore-based real estate investment group, has expanded its European portfolio with two new acquisitions in Prague and Amsterdam respectively. The new additions will bring M&L Hospitality’s total portfolio to 18 properties globally, nine of which are in Europe. The full portfolio is valued at close to SGD $2.5 billion.
In December, the group acquired Hilton Prague Old Town, a well-established five-star, 303-bedroom freehold property, and Gestin Centrum, an adjacent 6,900 sqm mixed use commercial building. Located in a prime location at the gates to the city’s Old Town in the heart of the city centre, the tastefully modernised Art Deco building holds 14 meeting and function rooms which can accommodate up to 340 guests. The property is also within walking distance of shops, restaurants and famous tourist sights.
M&L Hospitality also secured the sale of Park Inn by Radisson Amsterdam Airport at the end of last year. Ideally located in the Schiphol-Rijk Business Park, the hotel is close to Schiphol Amsterdam Airport, Europe’s fourth largest and fastest growing international airport. The hotel is well linked to key locations around The Netherlands including Amsterdam City, Rotterdam, The Hague and the country’s leading convention centre, Amsterdam RAI, through major motorways and public transportation.
Since 2013, M&L Hospitality has been actively acquiring properties in key gateway cities in Europe such as Stratford City, Manchester, Heathrow, Brussels, Amsterdam, and now, Prague. The group has also opened an office in Amsterdam, a move to support its growing European portfolio.
Neil Maxwell, Chief Executive Officer of M&L Hospitality, said “These new acquisitions in Europe are a testament to our confidence in the region and we look forward to expanding our European portfolio further. The properties are located in key cities with solid economic fundamentals, providing our stakeholders with access to quality real estate assets.”