Messi Buys Hotel Avenida Sofia In Sitges For €30M

8 June 2017 – Expansión

Leo Messi wants to take advantage of the strong performance of the tourism sector and has purchased a 4-star superior hotel in the town of Sitges (Barcelona). FC Barcelona’s striker has paid around €30 million for the building, which has 77 rooms and he has engaged the Majestic Group to manage the establishment. None of the parties involved wanted to confirm the operation, which has been completed with the utmost discretion.

The hotel, recently renamed MiM, is located two roads back from the sea, very close to the beach and to Sitges’ seafront. Specifically, it can be found at number 12 Avenida Sofía, behind Hotel Calípolis and the top floor terrace looks out over the sea. In high season, rooms at the Hotel MiM go for between €250 and €300 per night.

Close to the sea

The town of Sitges, which primarily receives leisure tourists, but which also hosts business meetings, conferences and conventions, is located around 40 km from Barcelona. It is precisely due to its proximity to the Catalan capital and the beach that this coast has been chosen by several football players for their primary residences, including by Leo Messi himself. The Barça star lives in the neighbouring town of Castelldefels, very close to other teammates such as Luis Suárez.

The hotel that Messi has purchased in Sitges was constructed in 2013 and belonged to a local businessman, Francisco Sánchez, who owns other hotels in this tourist town. Until now, the property operated under the name of Avenida Sofía and was managed directly by the previous owner. The property has 77 rooms, including 5 junior suites and one superior suite. It has 300 m2 of meeting rooms, a spa with a hydrotherapy circuit, cabins for couples and oxygen treatments and a rooftop terrace with a swimming pool, bar and panoramic views.

FC Barcelona’s striker recently constituted a new company to invest in hotels and apartments under the name Rosotel. According to the Commercial Registry, in April, the holdling company that channels Leo Messi’s investments, Limecu España 2010, created Explotaciones Rosotel, with the corporate purpose of “operating businesses relating to the hospitality sector, in particular, the management of bars and restaurants, and the acquisition, sale and ownership of hotels and apartments”. The sole administrator of this new company is Limecu, whose president is Leo Messi himself and whose sole administrator is his brother Rodrigo.

This is not Messi’s first investment in the Catalan real estate sector, given that the player already owns the Rostower Building, in El Eixample, Barcelona.

Meanwhile, the family chain that will be responsible for operating the establishment has many years of experience in the hotel sector. The Majestic Group operates six hotel establishments in total, located in Barcelona, Palma de Mallorca and now Sitges, as well as two tourist apartment buildings and six restaurants. Last year, the chain recorded revenues of €44 million, up by 5% compared to the previous year (…).

Original story: Expansión (by Marisa Anglés and Sergi Saborit)

Translation: Carmel Drake

Schauinsland-Reisen Buys Two Hotels In Fuerteventura

28 November 2016 – Real Estate Press

The German tour operator Schauinsland-Reisen has acquired Hotel R2 Río Calma and the Maryvent apartment complex, both located in Fuerteventura.

According to a statement issued by the Company, the Canary Islands represent one of the main destinations for the tour operator. For this reason, Schauinsland-Reisen has invested in two very well-known and well-regarded tourist complexes in the Canary Islands. The two buildings are located on the Costa Calma de Fuerteventura and are very popular with the German market, according to the company. The group has acquired 100% of the superior 4-star Hotel R2 Río Calma, which has 416 rooms, and has become the majority shareholder of the Maryvent apartment complex, which is also a 4-star property.

Gerald Kassner, CEO at the company, appeared very happy with the success of the agreements and the incorporation of these hotels into the firm’s portfolio. “We are very happy to be acquiring these two beach-front hotels for the German market and for our clients. Both tourist complexes fit perfectly with the Schauinsland-Reisen portfolio in terms of quality and location”, he said.

The group highlights that the Maryvent apartment complex has a “prime location” right on the beach front at Playa de Costa Calma. Guests stay right next to the 1km-long, shallow beach. (…).

Within the R2 hotel chain complex, the tour operator Duisburgo also exclusively operates the 5-star R2 Romantic Fantasia Suites Design de Bahía Playa, the 4-star R2 Design Hotel Bhía Playa and the 4-star R2 Romantic Fantasia Dream.

In June, the German tour operator bought its first hotel in Mallorca, the Bahía Cala Ratjada, a 4-star property, formerly known as Eva Park.

Original story: Real Estate Press

Translation: Carmel Drake

Axa Buys The Cine Rex Building On Gran Vía For €42M

11 December 2015 – El Confidencial

Another high profile operation on Gran Vía. Axa Real Estate, the real estate arm of the French insurance company, has just added another property to its portfolio on the most sought-after thoroughfare in Madrid. This week, the company has reached an agreement to acquire the building that houses Hotel Rex and the historical cinemas of the same name, for €42 million.

The entity won a sales process that was launched at the start of the year by the firm Equity Inmuebles SL, controlled by the Mazon, Calero (owner of the Vincci hotels) and Briones families, which opened the bidding at around €28 million, but which, thanks to the huge appetite that exists to purchase assets on this street, has ended up selling the property for 50% more, according to comments made by several sources in the know.

This is the second operation of this kind that the French firm has closed on this thoroughfare, which last year acquired the former Avenida cinema, at number 37 Gran Vía for almost €80 million. It paid that high figure thanks to the “sweetener” afforded by having the Swedish fashion chain H&M as a tenant; it opened its most iconic store in the capital there in 2009.

For this new operation, Axa’s plans to remodel the building, which measures around 9,000 m2 and to operate it by combining its two current uses as a hotel and retail space. Moreover, the entity is willing to respect the protected nature of the cinemas, which have been closed for several years and which occupy a surface area of almost 700 m2.

Currently, the building houses a 3-star hotel with 147 rooms, managed by the owners of the property. Axa’s idea is to open a high-class establishment, which will add to the resurgence that Gran Vía is experiencing thanks to the boost that Operación Canalejas is generating in the whole area.

Hotel fever

The real estate development, which is being led by OHL Desarrollos, includes the opening of the first Four Seasons hotel in the capital. The hotel chain is proving to be a real magnet, attracting brands of high standing to the Gran Vía area. In fact, experts expect that Grupo Wanda will end up choosing a chain of such standing to manage the hotel that it will open in the Edificio España, although for the time being, the only clue is that it will be a 5-star establishment.

The majority of the new hotels being planned on this thoroughfare are 4-star and 5-star properties, such as: the one due to be opened in the building on Calle Montera, 25-27, owned by the Díaz Estrada family; Gran Vía, 10, which houses the Ministry of Education and which has been acquired by Generali for conversion into a hotel operated by Vinnci; and the Barceló, which has been opened in Torre de Madrid in Plaza de España.

Through this operation involving the Edificio Rex, Axa Real estate joins several other high profile players in the hotel business in the centre of the capital and diversifies its interests, which until now have been very concentrated in the office sector, above all after it acquired 381 Santander branches from the Socimi Uro and after it purchased the headquarters of the Generalitat de Catalunya.

Original story: El Confidencial (by Ruth Ugalde)

Translation: Carmel Drake

Iberostar Adds Two 4-Star Hotels To Its Portfolio

19 November 2015 – Expansión

Iberostar, the Mallorcan hotel group controlled by the Fluxá family, has incorporated two new hotels into its portfolio – one in Ibiza, its first on the Balearic Island, and the other in Estepona (Málaga), its sixth in Andalucía. The 4-star establishments will both open their doors next year.

Original story: Expansión

Translation: Carmel Drake

Sabadell Awarded Hotel Barceló Cervantes In Oviedo

26 October 2015 – Expansión

Banco Sabadell has just been awarded the Hotel Barceló Cervantes, in Oviedo (Asturias) in exchange for debt it was owed. The hotel used to belong to an individual and has now been transferred to HI Partners, which is continuing to rapidly grow its portfolio of hotel assets.

The hotel in the Asturian capital has 72 rooms and a 5-star rating, and will continue to be managed by Barceló. It is located in the city centre, in a building that was used as a large luxury home at the beginning of the twentieth century; two glass-fronted wings were subsequently added to the property (see picture above). It has a restaurant, bar and 12 meeting rooms with capacity for more than 300 people.

HI Partners’ hotel portfolio includes another hotel managed by Barceló, namely the Barceló Estepona Thalasso, a 4-star establishment located on the coast of Malaga.

One of the other key assets owned by Banco Sabadell’s manager is Hotel Prestige Coral Playa, located in Roses (Girona) with 167 rooms. HI Partners also owns hotels in Huesca, Tarragona, Navarra, Tenerife, Cádiz, Almería, Valencia and Barcelona, where it was recently awarded one of Husa’s properties.

Original story: Expansión

Translation: Carmel Drake

BlueBay Signs JV With Nadhmi Auchi To Operate Hotel Miguel Angel

18 September 2015 – Cinco Días

The Madrilenian Hotel Miguel Angel is going to be operated by a prestigious player once more, but not one that has a significant international presence. The hotel chain BlueBay will manage the property from now on, after it reached an agreement with the owner, the Iraqui born Briton Nadhmi Auchi, who has been running the hotel since December 2013, when Occidental Hoteles departed, whereby putting an end to its operations in Spain.

All of the international hotel chains have had their eyes on Hotel Miguel Angel, amongst others, since the Four Seasons announced its arrival in Madrid, in the Canalejas complex, and Mandarin announced its acquisition of the Ritz. In the end, the Spanish firm BlueBay, owned by investor Jamal Satli Iglesias, will take over the management of the property, which has 267 rooms, under an agreement that will involve the creation of a joint venture between BlueBay and Nadhmi Auchi. Together, they will invest around €35 million on the refurbishment. The renovation will be completed over the next few months and will involve the creation of new facilities and the expansion of the gastronomic offer, according to the chain, which aims to convert the hotel into “one of the most emblematic luxury, 5-star establishments in the city and in Spain”, said the CEO of BlueBay, Joaquín Janer.

This operation is BlueBay’s first foray into Madrid – traditionally, the company has a strong presences in the holiday hotel market, but not in the city hotel segment – it owns one 3-star hotel in Barcelona and two hotels in Mérida (one 5-star and one 4-star). BlueBay’s portfolio contains 52 properties across 27 locations. It will soon add eight more assets as a result of its international expansion, which will take place in the Middle East, Latin America and Europe. In April, it announced its expansion into Morocco and it plans to start constructing four hotels in Brazil this quarter.

In Spain, BlueBay is also working to open two other properties, in Marbella and Estepona, in 2018, which will require an investment of around €100 million. The chain, founded in 1976, operates six brands, including the urban specialist BlueCity. The brand used to be owned by Marsans, but following that company’s bankruptcy in December 2009, the businessman Jamal Satli Iglesias acquired it from Posibilitum, in an operation that included the management of 11 hotels. Satli Iglesias also holds a stake in Málaga Football Club, through which he has a dispute pending with its chairman, Abdullah Al Thani.

Renovation of Madrid’s luxury hotels

The refurbishment of Miguel Angel will represent a new boost for the 5-star segment in the capital, following the arrival of Four Seasons, which resulted in a “pull effect” in Madrid for other major international operators. During this time, Mandarin joined forces with the Olayan Group to purchase the Ritz. Despite this, the city’s hotel market is still missing companies such as Hyatt, Kempiski, Hilton, W and Shangri-La, although the details of the Wanda group’s plans for its hotel project at Edificio España have not yet been revealed. One of the most tempting properties for investors and operators over the coming months will inevitably be the Villa Magna, whose owner rejected a purchase offer from Jaime Gilinski in August for €190 million, and the (Westin) Palace. The owners of the latter have set a sales price of €330 million for the establishment.

Original story: Cinco Días (by Laura Salces Acebes)

Translation: Carmel Drake