Real estate services firm Cushman & Wakefield has advised on the successful sale of the Radisson Blu Palace Hotel & Spa.
The hotel has been acquired by family office Van der Valk, adding to its growing European hotel portfolio. Cushman & Wakefield’s hospitality team led by Ed Fitch, Jan-Oscar Huges and Vincent Vanderstraeten advised the vendor on the transaction.
The Radisson Blu Palace Hotel & Spa is a 120-room hotel situated at Place Royale 39, 4900 Spa, Belgium, in the UNESCO heritage town of Spa, with direct access to the famous Thermes de Spa and a leading hotel for the nearby Spa-Francorchamps race track, the home of the F1 Belgian Grand Prix.
Jan-Oscar Huges, Capital Markets at Cushman & Wakefield, said: “Although the market has faced hurdles due to escalating debt costs and geopolitical events, the enduring appeal of the drive-to-leisure demand, coupled with the exceptional condition of the property has shone through. We are delighted to have assisted our client to achieve its strategic divestment and to be able to close the transaction with Van der Valk, who demonstrated commendable commitment and efficiency during the final stages of this deal."
