FDM Management, a subsidiary of French real-estate giant Foncière des Régions, has taken control of two hotel portfolios – 18 hotels in total – for the sum of €936 million.

The properties, which include the Park Inn on Berlin’s Alexanderplatz, comprise nine hotels in Berlin, Dresden and Leipzig; and nine in France and Belgium.

"With these two major transactions, we are entering high-growth markets in partnership with the main international operators," FDM chairman Dominique Ozanne said in a statement. "As such, we are securing our position as a major
player in hotel investments, and our aim is to continue our development in Europe."