Platinum Puts Hotel Asturias in Madrid Up for Sale

1 March 2019 – Eje Prime

The Hong Kong-based investment group Platinum is looking for a buyer for the Hotel Asturias in Madrid, which it purchased in 2014 and which is going to be home to the W chain’s first hotel in the Spanish capital.

Platinum acquired the hotel from the Salazar family five years ago for €35 million. That operation included the two buildings now for sale located at numbers 9 and 11 Carrera de San Jerónimo, close to Plaza del Sol.

In addition, Platinum is looking to divest another property from its portfolio: the building that it owns on Calle de Jacometrezo. That property contains 139 rooms, is going to be operated by Marriott’s Aloft chain and is due to open in April.

Platinum is managed by the Indian textile merchant Harry Mohinani and his wife Roshni Mohinani; it entered the Spanish market in conjunction with Juan Luis Segalerva.

Original story: Eje Prime (by I. P. Gestal)

Summary translation by: Carmel Drake

Hyatt Wants To Grow In Spain & Places Its Focus On Madrid & Barcelona

24 October 2017 – Expansión

All of the stars are aligned for Hyatt’s return to Madrid. After almost a decade away, the US chain will return to the capital at the end of the year, with what will be its second hotel in the country, following the opening of Park Hyatt Mallorca in June 2016. What’s more, it is looking for new opportunities to strengthen its presence in the country, according to Gonzalo Maggi, Director General of Hyatt Centric Gran Vía Madrid.

For its debut in the capital, the luxury hotel group has chosen the building at number 31 on Madrid’s iconic Gran Vía. The building is owned by the Mexican family group Exacorp, and used to house the legendary Zahara coffee shop and the famous lottery office of Doña Manolita.

“Hyatt wants to continue investing in Spain. We do not have any specific projects under consideration at the moment, but we are looking for opportunities to continue growing in the country”, said Maggi, who mentions Madrid and Barcelona as the places where the group is placing its focus when it comes to strengthening its presence.

At the end of July, the multi-national owned 731 hotels around the world, and it has opened one hundred establishments in the last year alone.

In terms of Madrid, the chain, which managed Hotel Villa Magna for almost two decades until 2008, has this market on its radar. “We think that it is a very important city in Europe. Since we left Madrid, we have been trying to return, but we weren’t able to find any project that was worth it until now”, he said.

“Hyatt has 13 brands and we are considering which ones fit with this market. In addition to Centric, the Regency brand could suit the city”, he added.

With its arrival on Gran Vía, Hyatt will be the first in a long line of international luxury chains, such as Four Seasons and the Aloft and W brands – from Starwood – , that are going to arrive in the centre of Madrid over the next few years: “One of the advantages we have over the competition is that we are going to be one of the first to arrive on Gran Via in the five star segment. Our product will be distinctive all by itself. It will serve as a starting point for visitors to explore the city and as an icon for leisure in the local market”.


The Hyatt Centric Gran Vía, with 159 rooms, will open its doors in December and will have 88 employees. The establishment will have a rooftop terrace, which will be inaugurated a few months later, probably in the spring of 2018.

The owner of the building, which used to be leased as office space, spent €30 million renovating the asset, which Hyatt wants to turn into a flagship property for its Centric brand in Europe. The hotel’s features will include a vermouth bar, Ondas, with a design that imitates that of a music studio, and an Ice and Coal restaurant, with a local gastronomic offering.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake

Starwood to Introduce Aloft Hotels to Madrid and Barcelona

8/10/2014 – Expansion

U.S. chain Starwood, managing 17 hotels in Spain and 1.162 establishments all around the world, is going to release its brand Aloft to the Spanish market. The three- or four-star brand outstands with its designer, modern and colorful style. An overnight stay in such a hotel in London costs around €130.

Starwood’s CEO for Spain Richard Brekelmans announced that negotiations with building owners in Madrid and Barcelona are already ongoing. ‘They are pretty advanced and soon we will open new hotels in the country’, he assures.

The director explains that the idea of Aloft is ‘exceptionally attractive as it may be developed really fast. Location of the hotels makes it easy to find them and required investment consumes much less equity than a 5* establishment, therefore we could open hundreds of them in the upcoming years’, he adds. Moreover, Mr Brekelmans believes the market still offers space for new brands.

In Spain, Starwood operates under the names of Le Meridien, W Hotels, Four Points, Sheraton, Westin, St. Regis and The Luxury Collection. The last includes independent establishments like the Alfonso XIII in Sevilla, the Castillo Hotel Son Vida in Mallorca, the Hotel Maria Cristina in San Sebastian and the Hotel de Marques de Riscal in Elciego (Alava).

Other Brands

The U.S. group is ‘interested in developing more hotels in Spain and for that reason we are currently exploring various projects’, says the CEO. Five years after opening the Hotel W in Barcelona, the company looks for a proper location in Madrid. Additonally, Starwood has got six Sheraton establishments in different cities and the company wishes to open one more in Barcelona but that ‘must be the perfect building’.


Original article: Expansión (by Marisa Anglés)

Translation: AURA REE