Tag: Antonio Catalán

Antonio Catalán Sells the Rest of AC Hoteles to Marriott

31 March 2019 – El País 

Marriott, the largest hotel conglomerate in the world with 7,300 establishments in its portfolio, has today acquired the remaining 40% of the share capital in AC Hoteles for €140 million. The two brands first joined forces back in 2011 when the US group entered a joint venture with the Spanish firm at height of the economic crisis.

The new operation will involve the dissolution of the joint companies and the creation of a new one, which will allow Antonio Catalán (Navarra, 1948), in his capacity as President of AC by Marriott, to use any of the hotel giant’s brands, not only AC and Autograph. In this way, he is thinking of entering the tourist segment on the Costa del Sol and the tourist apartment business in Sevilla.

The businessman manages 76 hotels (65 in Spain, 10 in Italy and 1 in Portugal) through the company Belagua 2013. In 2017, the latest year for which accounts are available, that company recorded revenues of €188 million and generated a net profit of €71 million, which is expected to grow by 8% in 2018. Catalán also owns other companies with individual hotels, bringing his total revenues to €260 million.

In Spain, AC Hoteles is working on several hotel openings in Santa Cruz de Tenerife, Madrid, Cartagena and Andorra, assets that will operate under the AC by Marriott brand. It is also working on openings in Sevilla, Valencia and Bilbao, which will operate under the Autograph Collection brand.

Original story: El País (by Carmen Sánchez-Silva)

Translation/Summary: Carmel Drake

AC Hotels to Invest €5M in its First ‘Autograph’ in Valencia

1 October 2018 – El Mundo

AC Hotels, owned by the Navarran businessman Antonio Catalán, has acquired the rights to operate the former CAM building in Valencia, on the central street, Calle Pascual y Genís. Until now, the tenant was the Valencian firm Join Contract, which was granted use of the property by Solvia Group (Banco Sabadell) for 30 years in July, and which is now placing that use into the hands of this prestigious chain.

According to sources speaking to El Mundo, the firm AC Hotels competed against other major chains in the sector including NH and Barceló, as well as the local chain Grupo Intur, owned by the Gimeno family, which controls a large proportion of the major hotels in Benicàssim. Nevertheless, AC Hotels, which already has a hotel very close to what will become its newest location, decided to push hard for this site to whereby expand its business with the construction of what will be its first luxury hotel in Valencia.

That is why it will be called ‘Autograph’, the high-end brand that this operator uses to distinguish its top hotels. It will be the first of its kind in Valencia, although the firm has other luxury hotels with these characteristics operating under the same brand in Madrid and Barcelona.

Sources familiar with the operation have said that AC Hotels is going to invest almost €5 million in the renovation of the iconic building. If there are no delays, the building work will begin before the end of the year. The execution of the work will be carried out by the Valencian firm Join Contract, the same entity that has transferred the use of the asset to AC Hotels for 30 years (…).

More than 60 rooms

Although the project is still in its preliminary phase, some details have been published about the future AC Hotels Autograph. With a surface area of 4,500 m2 (580 m2 per floor), the hotel will have around 60 rooms, including suites and standard rooms. There will be a restaurant and hall on the ground floor, and there will be a small swimming pool for guests on the roof (…). The building will have nine floors in total, two of which will be used for parking (…).

Antonio Catalán, leader in the sector

AC Hoteles, from Antonio Catalán, is one of the leading chains in the hotel sector in Spain. It was founded in 1997 by this established Navarran businessman, who previously sold the NH chain to an investment fund for €70 million. After founding AC Hoteles, Catalán sold half of his shares to the chain Marriott for €80 million. Today they have more than 140 hotels open or under development around the world (…).

Original story: El Mundo (by Sergio Aspas)

Translation: Carmel Drake