AXA IM buys 11-strong European hotel portfolio

Hilton Vienna Danube Waterfront

AXA Investment Managers - Real Assets has spent €531m (£470m) on behalf of clients to buy a portfolio of 11 hotels across Europe.

The portfolio, which includes the Hilton Vienna Danube Waterfront and MGallery Cologne, will be secured through the acquisition of all assets held by the Principal Hotel Immobilien Spezialfonds, managed by Principal Real Estate, a European real estate investment manager and part of the Principal Financial Group.

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