Swedish hotel group Rasta has acquired a 9,000-m2 hotel with 200 rooms in Gothenburg from the Brandel family. The sales price came to SEK 240 mln (EUR 23 mln). The hotel is located in the centre of the city.

A number of investors are beefing up their investments in the hotel sector. In November, Invesco Real Estate announced it has acquired the Radisson Blu Hotel in Hamburg, Germany, for EUR 155 mln on behalf of its European hotel fund. The acquisition marks the fund's most significant purchase to date and is the result of an earlier forward purchase agreement signed prior to an approximate EUR 50 mln renovation, executed by the Azure group.

Meanwhile German-Danish real estate investor Euro Ejendomme has opened its business hotel fund to UK investors and also plan to start equity raising in the Netherlands. Euro Ejendomme SICAV-FIS Hotelfonds I invests in 2-4-star business hotels, mainly in Germany, though Switzerland and Austria are also possible locations.

CEE developer/investor Warimpex is also targeting the hotel market and has positioned itself to acquire land plots and properties at bargain prices in the current downturn for future expansion.