COLOGNE, GERMANY-Accor has signed a sale and lease back deal with Internos Real Investors' hotel real estate investment fund regarding the MGallery Mondial Am Dom, a 207-room hotel in Cologne, and the MGallery Convent Hotel, a 148-room property in Amsterdam. Under the deal, the Cologne and Amsterdam hotels will change hands for EUR 20.5 million and EUR 23.5 million, respectively.
Accor signed a 15-year commercial lease agreement to operate both hotels. The deal also includes a EUR 12.4-million renovation program. For the full story, go to Europe Real Estate .
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