UK group signs two more European city sites
UK-based hotel group Kula and international real estate investment firm Gold Tree Group have acquired two new hotel sites in Lisbon and Dublin.
Both properties will be developed into boutique Kula flex-stay hotels with 175 rooms each, scheduled to open in 2024.
The new acquisitions mark four joint deals between Kula and Gold Tree Group in Europe, with the first two being in Stuttgart and Basel. PBBR advised on the legal and tax aspects of the acquisition of the Lisbon property and Mason Hayes Curran served as legal advisors to Kula on the Dublin property deal acquisition.
Kula co-founder and CEO Moran Machtey said: “Kula’s four transactions mark the beginning of our ambitious expansion plans in Europe, as we intend to push this segment towards a fresh, urban and design-led product. The Dublin and Lisbon acquisitions are a great testament of our group’s capability to create attractive real estate value alongside profitable expansion opportunities for the brand.”
Next gen offering
Kula is a new owner-operator hospitality group that offers the new generation of travellers urban, stylish hotel lofts and apartments. The brand believes it presents an alternative to outdated aparthotels and serviced apartments and the unpredictability of Airbnb stays.
It offers flex-term serviced apartments and hotels in global cultural cities, designed to allow the new generation of travellers to enjoy a better, smarter and more enjoyable and personalised stay.
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ABOUT THE CHAIN
Kula is an owner-operator hospitality group that offers the new generation of travellers urban, stylish hotel lofts and apartments, delivering a seamless digital experience combined with superior service.