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The 340-room Westin Bellevue Dresden hotel in Germany houses more than 1,800 square metres of meeting and event space with modern facilities. It also has a main wing that is built in the 17th century.

First Sponsor
Acquires
Hotels
In Germany
And Italy

It has been a busy start of the year for First Sponsor, having acquired two hotels in Europe.

Most recently, the property group announced that it plans to buy controlling shares (94.9%) of the Westin Bellevue Dresden hotel for €49.5 million. The remaining shares are held by European hotel operator, Event Hotels that was the group’s joint venture partner for the Bilderberg portfolio in Netherlands acquired in August 2017. Completion of the acquisition is expected to take place within the first half of 2019.

First Sponsor and its partner, Event Hotels, expect to spend more than 10 million euros in the "near future" to refurbish the property. Completion of the acquisition is set to take place during 1H 2019.

Located in Dresden, the 340-room Westin Bellevue Dresden hotel is a freehold property that is located between the old and new towns of Dresden, Germany. Dresden is the capital city of the Free State of Saxony in Germany.


The six-storey hotel property is located on the prime shopping street of Corso Buenos Aires (above) in Milan, Italy.

Another hotel property in Milan, Italy was acquired for €9.3 million from BNP Paribas real estate investment fund Fondo Kona.

The property consists of a six-storey building with a basement and is situated in a prime location in Milan on Corso Buenos Aires. Formerly a 65-room four-star hotel named Grand Hotel Puccini, it is currently vacant and unleased, while its designated use remains as a hotel.

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