Orion Capital Managers acquires majority stake in Corinthia Hotel Lisbon

Orion Capital Managers, through its Orion European Real Estate Fund VI, has finalised the purchase of a 72% ownership stake in the Corinthia Hotel Lisbon.

Corinthia Hotel Lisbon

This follows the signing of a framework agreement with International Hotel Investments (IHI), owner of the Corinthia Hotels Group portfolio and brand, in January.

The five-star hotel with 518 rooms is the largest of its kind in Lisbon.

IHI will retain a 28% interest, and the asset will continue to be managed and operated by Corinthia Hotels Limited under the Corinthia brand.

Corinthia Hotel Lisbon was recently completely refurbished to upgrade its 517 keys, 3,000 m2 spa, three restaurants to equally cater for business, leisure and MICE travellers.

JLL served as the transaction and finance broker for the deal, Vieira de Almeida and Abreu as legal counsels (of respectively Orion and IHI), with Ficope and Arcadis advising on the technical aspects.

This marks the first investment by Orion European Real Estate Fund VI, which has a target fund size of €1.5 bn.