Portugal/Ireland: UK-based hotel group Kula and real estate investment firm Gold Tree Group have purchased two hotel sites in Lisbon and Dublin.
Owner-operator Kula is a hospitality group which provides hotel lofts and apartments in Australia, Portugal and the UK.
Kula’s “flex-stay” concept offers short and long-term stays with an array of add-on services, such as door-to-door grocery delivery, personal trainer sessions, language classes and more.
The acquisitions of the Lisbon and Dublin sites marks the fourth European joint deal between Kula and Gold Tree Group. The first two are located in Stuttgart and Basel.
Kula intends to transform the two new sites into its flex-stay hotel concept.
Moran Machtey, co-founder and CEO at Kula, 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.”
Machtey also serves as CEO of Gold Tree Hospitality which operates the brand Kula. Gold Tree Hospitality is sponsored and supported by the Gold Tree Group which focuses on the acquisition and management of high-value assets across Europe.