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First Sponsor affiliate closes €205M Dutch hotel portfolio buy

The parent company of Millennium & Copthorne Hotels Plc and City Developments Ltd., First Sponsor Group Ltd., has fulfilled all conditions and closed the €205.0 million acquisition of a Dutch hotel portfolio.

The company's affiliate FSMC NL Property Group BV and Galaren Interholding BV jointly purchased Queens Bilderberg (Nederland) BV, a company that owns the Bilderberg portfolio of 16 hotels and one leased hotel across the Netherlands, from QMH Ltd.

Following the deal, Queens Bilderberg, along with its subsidiaries, has become an associated company of First Sponsor Group.