An affiliate of Lone Star Value-Add Fund II has inked a deal with the Bervoets family to buy the company Hotel Métropole, whose main asset is the Métropole Hotel in Brussels.
Financial details were not disclosed. Lone Star said it would partner with Centaurus Hospitality Management to launch a major renovation of the historic 250-room hotel, with a view to reopen it in the fourth quarter of 2025.
'The acquisition of the Métropole, the capital’s historic hotel, by Lone Star and Centaurus is very good news for Brussels. This renovation will mark a new stage in the revitalization of the city center of Brussels. This illustrious building will regain its historic cachet and create hundreds of jobs,' said Philippe Close, mayor of the City of Brussels.
The property opened in 1895 with architecture emblematic of the Belle Époque style. Located on Place de Brouckère, in the heart of the Belgian capital, the real estate complex occupies a vast block stretching from Place de Brouckère to Rue Neuve, one of the main shopping high streets of the city and soon to be one of the largest pedestrian areas in Europe.
The real estate complex includes the Métropole Hotel and its 250 rooms, the Brasserie Métropole, as well as nine commercial units, mainly located on Rue Neuve and leased to fashion and cosmetics brands.
Source: Propertyeu.info on the 22th of November 2022
https://propertyeu.info/Nieuws/Lone-Star-checks-into-Mtropole-Hotel-in-Brussels/b2499179-f284-4e37-8835-5386f6a9cda7