• Balladins goes to CBRE Investors

Another budget hotel brand has changed hands in France with CBRE Investors, the independently managed arm of the brokerage CB Richard Ellis, buying a 100% holding in RMH Group.

The move to acquire the owner of the 160-strong Balladins group follows the purchase of the Villages Hotels chain by B&B and the earlier deal by Starwood Capital to take out Louvre Hotels.

The acquisition of Balladins, which has more than 7,000 rooms in France and Belgium, is the third hotel buy in the space of three months by CBRE Investors.

At the end of last year it bought six hotels comprising French group Geo and this month bough the Royal Mirabeau in south eastern France.

Balladins is the seventh biggest hotel chain in France by room numbers. Around 130 of its properties are franchised.

CBRE Investors is thought likely to use the Balladins brand on its earlier acquisitions and is tipped to make further acquisitions in the segment.

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