HVS Hodges Ward Elliott is pleased to announce that, acting in cooperation with the owner and Hatfield Philips International, it has successfully arranged the sale of the 253-bedroom Kurhaus Hotel in The Hague to the Amrath Hotels Group for €32.6m.One of the most iconic hotels in the Netherlands, the historic Kurhaus served as collateral for the ‘Kurhaus Loan’, which was securitized in Titan Europe 2006-3 plc. The selling price represents a premium of over 35% to the last reported market value to noteholders.
The hotel was previously operated under a management agreement by Steigenberger Hotels, which was terminated as part of the sale. The property has now been rebranded as the Grand Hotel Amrath Kurhaus and is set to undergo a substantial investment program to restore it to its former glory.
The Amrath Hotels Group is a private hotel owner and operator with 16 hotels in the Netherlands including the Grand Hotel Amrath in Amsterdam and the Amrath Grand Hotel de l’Empereur in Maastricht.
