PPHE Hotel Group, a Dutch hospitality company, has received the necessary regulatory approvals for its newly launched European Hospitality Real Estate Fund.
The new Fund will enable PPHE to speed up its strategy of identifying, acquiring, and developing hotel assets across key European markets.
Moreso, PPHE will join the Fund with an amount of up to $54.8 million in cash and or assets, and Clal Insurance, will invest up to $82.2 million, plus other investors contributing the remaining $137.1 million.
Furthermore, the Fund’s investment potential will be about $548.5 million, and the hotel assets acquired by the Fund will be operated by PPHE’s hospitality operating platform.