Hilton Takes the Lead at the Miguel Angel Bidding

6/05/2014 – Expansion

It has been already five months since the Occidental hotels withdrew from management of the Hotel Miguel Angel in Madrid. Its owner, Nahdmi Auchi, keeps the sector on tenterhooks by delaying his final decision.

At the moment, there are five big name chains bidding for the iconic property: Hilton, Meliá, Barceló, Kempinski and Marriott. However, Hilton has taken the lead and became the favourite, although all options remain under consideration. One of them is leaving the hotel administration in hands of the millionaire himself who has been already running it since January this year.

Other proposals that lay down on Auchi´s desk concern the property lease, management and key money option or even wider agreement involving other units in possession of the millionaire.

Hotels from Auchi´s chain Le Royal are found in Luxembourg, Morocco, Tunisia, Lebanon and Jordan. The 267-room unit in Madrid will not be sold. Instead, the millionaire is looking for an operator who would share costs of comprehensive renovation of the building.

If eventually Hilton chosen, the chain will reign in the heart of Madrid, along the Paseo de la Castellana Street where it disembarked in 1953 to manage the current InterContinental hotel. From 2008 on, the group has been operating a hotel located nearby the Barajas Airport (Madrid) and, in total, it runs nine establishments in Spain.

 

 

Original article: Expansión (by Y. Blanco)

Translation: AURA REE

68