SOHOMA INTERNATIONAL, along with EXTENDAM and 123 IM, has acquired the Hotel Navarra in Bruges, marking a strategic expansion into the Belgian hospitality market.

Target Information

The acquisition involves the purchase of the real estate and operating assets of a four-star independent hotel, the Hotel Navarra, situated in the historic center of Bruges, known as the "Venice of the North." This 94-room establishment has been operational for 40 years and is characterized by its remarkable historical charm, which is complemented by its maintenance, making it an attractive asset. Located in proximity to major cultural attractions such as the Grand Place, the Belfry, and the Basilica of the Holy Blood, the hotel also enjoys a strategic position close to the Concertgebouw, a hub for corporate and cultural events.

Spanning 3,700 square meters, the Hotel Navarra is well-equipped with amenities, including meeting rooms, a swimming pool, and a fitness center. The new owners, aiming to enhance the hotel's offerings, plan to initiate a phase of improvement works in 2025, executing the project without major structural changes or the closure of the hotel. SOHOMA INTERNATIONAL, the new operator, will implement a dynamic strategy starting in 2024 to optimize the establishment's performance further.

Industry Overview in Belgium

Belgium's hotel industry is characterized by a diverse array of options ranging from budget to luxury accommodations. With Bruges being a pivotal tourist destination due to its rich medieval heritage recognized by UNE