LRO Hospitality secures prime Brussels asset
LRO Hospitality (LROH), the European real estate investment venture backed by L+R Hotels and PGGM, has acquired from Archer Hotel Capital B.V. for a reported €92 million the 222-room Brussels Marriott Hotel Grand Place. The deal marks a significant milestone in LROH’s strategy to deploy equity into high-quality hospitality assets across major European capital cities.
The transaction was completed in partnership with Archer Hotel Capital B.V., a specialist European hotel investment vehicle jointly owned by affiliates of APG Asset Management and GIC who previously managed the hotel and led a €16 million renovation program completed in April 2024. LROH said the repositioning delivered a substantial uplift in profitability and demonstrated Archer’s ability to execute its investment thesis from acquisition through to exit.
The hotel will be operated by L+R Hotels under a franchise agreement with Marriott and includes a landmark McDonald’s tenancy that has occupied the building since 1978, predating the hotel’s opening in 2002.
The acquisition closed on September 16, 2025. Archer was advised by HVS Hodges Ward Elliott and DLA, while LROH was advised by Strelia and PwC.
By Jeffrey Weinstein