French real estate investment manager Epsicap REIM has acquired a Travelodge hotel in Inverness, Scotland, for £4.1m, on behalf the company’s small-cap focussed Société Civile de Placement Immobilier (SCPI) vehicle.
Inverness Travelodge
The 54-room hotel was refurbished in 2017 and is fully let to Travelodge Hotels, under a lease with a 20-year remaining unexpired term.
The asset is the SCPI’s acquisition first hotel purchase.
Florian Le Quéré, investment director and partner at Epsicap REIM, said: “This first hotel acquisition for Epsicap Nano perfectly reflects our strategy for this kind of asset: [the right] economic segment, international brand and market with strong fundamentals – high occupancy rates and ADR [average daily rate].
“We are therefore delighted with this acquisition, which strengthens the fund’s diversification both in terms of asset typology and geographic footprint.”
Travelodge operates over 610 hotels across the UK and has also established a presence in Spain.
