Transaction highlights continued momentum in investment flows from Asia-based institutions into European hotels

JLL's Hotels & Hospitality group has advised Blackstone on the sale of the Hilton Prague Old Town and the adjacent 6,900 sq m mixed use commercial building - Gestin Centrum - to Singapore based M&L Hospitality Trust.

'2016 has been a year characterised by continued capital flows from Asian institutional investors into the European hotels and hospitality market and this latest transaction is part of a trend which we believe will continue well into 2017,' said Patrick Saade, Executive Vice-President,European transactions in JLL's Hotels & Hospitality Group.

The Hilton Prague Old Town is a well-established 5 star, 303-bedroom freehold property, in a prime location at the gates to the Old Town, at the heart of Prague's historic centre. It was acquired by Blackstone as a Renaissance in 2006 as part of a larger portfolio deal and subsequently converted to a core brand Hilton in 2007.

M&L Hospitality Trust is an international real estate investment platform specialising in hotels, and with offices in Amsterdam, Singapore and Sydney.

Jones Lang LaSalle Inc. published this content on 22 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 December 2016 15:08:02 UTC.

Original documenthttp://www.jll.eu/emea/en-gb/news/736/jll-advises-blackstone-sale-hilton-prague-old-town-m-l-hospitality-trust

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