Archer
Hotel Capital completes exit after delivering strong performance uplift through
renovation and repositioning.
LUXEMBOURG – LRO Hospitality (LROH), the
European real estate investment venture backed by L+R Hotels and PGGM, has
acquired from Archer Hotel Capital B.V. for a reported €92 million the 222-room
Brussels Marriott Hotel Grand Place. The deal marks a significant milestone in
LROH’s strategy to deploy equity into high-quality hospitality assets across
major European capital cities.
The transaction was completed in
partnership with Archer Hotel Capital B.V., a specialist European hotel investment
vehicle jointly owned by affiliates of APG Asset Management and GIC who
previously managed the hotel and led a €16 million renovation program completed
in April 2024. LROH said the repositioning delivered a substantial uplift in
profitability and demonstrated Archer’s ability to execute its investment
thesis from acquisition through to exit.
The hotel will be operated by L+R Hotels
under a franchise agreement with Marriott and includes a landmark McDonald’s
tenancy that has occupied the building since 1978, predating the hotel’s
opening in 2002.
The acquisition closed on September 16, 2025.
Archer was advised by HVS Hodges Ward Elliott and DLA, while LROH was advised
by Strelia and PwC.
“This is a high-quality asset in a truly
outstanding location,” said LROH Chief Investment Officer Henri Wilmes. “It
aligns perfectly with our investment criteria - a European capital, prime real
estate, and a franchise structure that allows us to unlock further value
through active asset management. We see continued upside, particularly with the
evolution of the surrounding area, including new luxury retail openings
directly opposite the hotel.”
“This sale represents the first full-cycle
execution of our post-COVID strategy, and we’re proud of the transformation
achieved at the Brussels Marriott,” said Dominic Seyrling, co-CEO of Archer
Hotel Capital. “We’re confident that LROH will continue to build on the hotel’s
strong performance and take it to the next level.”
Archer Hotel Capital B.V. was established
in December 2018 and has a hotel portfolio comprising 15 assets with a gross
asset value of approximately €3.5 billion. The company focuses on acquiring
institutional-quality assets of scale in gateway cities across Western Europe.