230-key hotel in Business Bay sold to European investor, marking a notable transaction.
Knight Frank has advised on the sale of the 230 key Revier Hotel in Business Bay, acting on behalf of Fortimo Group, a Swiss developer. The hotel has been acquired by a European investor.
Having opened in 2021, the hotel combines contemporary Swiss design with a lifestyle setting and operates under the Swiss-born Revier brand, in a well connected Business Bay location, near Downtown Dubai.
The hotel will be repositioned and rebranded under the Barceló Hotel Group, marking another step in the Spanish group’s regional expansion strategy and reinforcing Dubai’s position as one of the most active hotel investment markets in the Middle East.
Kostas Erotokritou, Senior Manager – Hotel Capital Markets, who led the transaction, commented: “This transaction underlines the strength and resilience of Dubai’s hospitality market. The hotel’s forthcoming repositioning under Barceló Hotel Group will unlock further operational value, and ensure the asset remains well aligned with the city’s evolving tourism landscape.”
Andrew Love, Regional Partner – Head of Commercial Transactional Services, MENA, added: “We are delighted to have advised on the sale of the Revier Hotel. This deal reflects our commitment to delivering exceptional outcomes for our clients across the region, and our continued role in executing complex hospitality transactions.”
The sale of Revier Hotel Dubai adds to Knight Frank’s strong track record of hotel transactions in the MENA region, with 15 successful hotel sales in the past 24 months.