Greenberg Traurig Advises BC Partners and Hova Hospitality on Acquisition of 30 Ibis Hotels in Germany

BERLIN - Sept. 19, 2024 - Greenberg Traurig advised BC Partners Real Estate (BC Partners) and Hova Hospitality (Hova) on the acquisition of a portfolio of 30 hotels in Germany from the AccorInvest Group. The purchase price is undisclosed.

The hotels, which comprise 2,308 rooms, are mainly located in various cities across Germany and are leased to B&B Hotels on a long-term basis. The transaction includes a comprehensive renovation program for the hotels, including improved energy efficiency.

BC Partners is an investment firm with over €40 billion of capital under management in private equity, private debt, and real estate strategies. Hova specializes in the acquisition and management of hotel facilities throughout Europe.

Greenberg Traurig lawyers advised on the purchase agreement, hotel lease agreements, renovation program, and financing of the purchase.

Background:
Greenberg Traurig has been advising BC Partners on various transactions for years.

About Greenberg Traurig: Greenberg Traurig, LLP has more than 2750 attorneys in 47 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2022 BTI "Highly Recommended Law Firm" for superior client service and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule 6.0 Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA's Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: www.gtlaw.com.