• Transaction / Assets
    Hotel Eurostars Gran Valencia
  • Seller
    Atitlán
  • Buyer
    Grupo Hotusa
  • € MM

Grupo Hotusa Buys Hotel Eurostars Gran Valencia from Atitlán

15 June 2018 – Expansión

Grupo Hotusa is continuing to increase its portfolio of assets under ownership. The corporation chaired by Amancio López Seijas has purchased the Hotel Eurostars Gran Valencia, which the company has been managing through its hotel chain Eurostars.

The investment firm Atitlán – led by Aritza Rodero and Roberto Centeno, son-in-law of the owner of Mercadona, Juan Roig – was the owner of 66% of the hotel, according to explanations from market sources speaking to Expansión.

The hotel, located in the upper part of Torre Ademuz, has 110 rooms and a 4-star rating. Specifically, the Eurostars Gran Valencia occupies the upper floors of the building located on Avenida de las Cortes in Valencia, between the Palacio de Congresos and the future Nou Mestalla stadium.

Horwath HTL has advised the sales process, which began last year and which has been delayed for months due to the complexity involved.

Other purchases

In addition to the Hotel Eurostars, the building houses two hotels owned by Ilunion, which used to be managed by Accor, as well as a gym and a parking lot.

With this operation, Grupo Hotusa is taking another step in the framework of its expansion and purchasing plan, which extends both nationally and internationally. In this way, in May, Hotusa purchased Hotel Barceló Thalasso, located in Estepona (Málaga) from Sabadell and in March, it acquired the hotels Eurostars Gran Hotel La Toja and Eurostar Isla de la Toja in O Grove, Pontevedra, from Banco Popular.

The hotel consortium created in Barcelona in 1977 closed last year with a turnover of €1.24 billion, up by 15%.

The Eurostars Hotels chain, created by Grupo Hotusa in 2005, has around 100 establishments in large Spanish capitals and other international destinations such as New York, Paris, Berlin, Rome, Naples and Venice. Moreover, the group owns more than 50 hotels through its Exe Hotels chain.

Meanwhile, Atitlán is continuing with the divestment of its hotel properties with this operation. In this vein, a few months ago, it sold a portfolio of six establishments to Atom, the Socimi promoted by Bankinter (…).

Original story: Expansión (by R. Arroyo & A. C. Álvarez)

Translation: Carmel Drake

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