London-based Schroders has acquired two Hoxton hotels, one in Amsterdam and the other in Paris, for 260 million euros ($276.3 million), according to multiple sources.
Schroders, an asset management company, confirmed to Property Magazine International that it acquired the 172-room Hoxton Paris and the 111-room Hoxton Amsterdam from Sharan Pasricha, the founder and co-CEO of Ennismore, which owns the Hoxton brand. The pricing breaks down to approximately 919,000 euros per key.
The two Hoxton-branded properties will remain under Ennismore’s management, according to HVS. Ennismore entered into a joint venture with French hotel brand company Accor in 2021 to operate all of Accor’s lifestyle brands as well as the Hoxton and Gleneagles brands. Hoxton Hotels, founded in 2006, has 13 properties currently in operation in the U.S. and Europe.