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Article: Deals, Transactions Begin In Europe.
- Article from:
- Hotels
- Article date:
- November 1, 2009
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Staff
EUROPE--It started in late August, when Steigenberger Hotel Group announced its acquisition by Travco Group International Holding S.A.E., an Egyptian tourism group. Since then, the industry has seen the sale and leaseback of 158 HotelF1 properties in France by Accor, NH Hoteles entering into a management agreement with rival Hesperia, and TUI announcing plans to raise a war chest of funds to finance acquisitions.
Other major players are standing by while raising funds to acquire as well, like Avingstone Financial, London, which reportedly plans to purchase a series of hotels across Europe over the next two years.
Still, "I don't see a wave ...