UK-based hotel group Kula, and international real estate investment firm Gold Tree Group announce the acquisition of two new hotel sites in Lisbon and Dublin.
Both properties will be developed into “Kula” flex-stay hotels totaling 175 rooms and planned 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 is a new owner-operator hospitality group that offers the new generation of travelers urban, stylish hotel lofts and apartments, delivering a seamless digital experience combined with superior service. Kula presents an alternative to outdated aparthotels and serviced apartments and the unpredictability of Airbnb stays. It offers flex-term serviced apartments and hotels in some of the world’s most exciting cultural cities to allow the new generation of travelers enjoy a better, smarter and more enjoyable and personalised stay.
“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,” says Moran Machtey, Co-Founder & CEO, Kula.
“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.”
For more information about Gold Tree Group, visit www.goldtree-group.com. For more information about Kula, visit staykula.com.