Tag: Catalonia Hotels & Resorts

Catalonia Hotels Buys 2 Buildings in Málaga to Convert into 72-Room 4-Star Hotel

25 July 2018 – Press Release

Catalonia Hotels & Resorts has completed the purchase of two buildings in the historical centre of Málaga, whereby expanding its presence in Andalucía. This operation will involve an investment of €24 million, including the acquisition of both properties and the complete renovation of the existing homes. The purchase also involves the operation of 600 m2 of space devoted to retail premises.

The hotel, located at number 5 on the central Calle Puerta del Mar, plans to open its doors in 2020. Its installations will house 72 rooms, a restaurant, bar and fitness area.

This will be the seventh establishment for Catalonia Hotels & Resorts in Andalucía, where it already has two hotels in the town of Ronda, three in the city of Sevilla and one that it recently opened in the centre of Granada.

The company’s expansion department, led by Federico Holzmann, does not rule out continuing to study opportunities in the south of Spain. According to Holzmann, “Andalucía is a very attractive market for us, where tourism is continuing to grow. Towns such as Córdoba, Cádiz and Marbella, where we do not have a presence yet, could be interesting destinations for the expansion of our portfolio”.

At the national level, Catalonia Hotels & Resorts plans to open an establishment soon in San Sebastián and another in Bilbao, in addition to the expansions of its properties in Sevilla (Catalonia Santa Justa) and Menorca (Catalonia Mirador des Port).

In Europe, the chain is going to venture into the Italian market shortly with the upcoming opening of Catalonia Milano Centrale, and in Portugal with a new hotel in Oporto.

The 5 new projects share common traits, given that they will all be 4-star superior urban establishments, located in privileged, central and well-connected areas, and equipped with catering, leisure and wellness areas.

In addition, Catalonia Hotels & Resorts is going to expand its presence in the Caribbean with the construction of a 5-star All Inclusive resort on the Riviera Maya with 434 rooms located on the paradisiacal beach of Costa Mujeres.

Catalonia Hotels & Resorts 

A family run hotel chain founded in 1982 by the Vallet brothers. After starting out focusing on the real estate sector, the company inaugurated its first hotel establishment in 1983 to become one of the main hotel chains in Spain in just a few years. Currently, the company has 69 establishments, located in 22 different destinations: 57 hotels in Spain, two in Brussels, one in Berlin, 8 resorts in the Caribbean (4 in the Dominican Republic and 4 in Mexico) and one urban hotel in the city of Santo Domingo. At the moment, Catalonia Hotels & Resorts is a leading player in Barcelona, where it has more than 3,000 rooms.

Original story: Press Release

Translation: Carmel Drake

CBRE: Hotel Inv’t Will Exceed €3,000M In 2017

10 October 2017 – Observatorio Inmobiliario

The summer holidays led to a slow down in hotel investment in Spain during the third quarter of 2017, after 6 months of euphoria and record-breaking deals, when more than €1,400 million was invested. By contrast, investment volumes reached just €240 million during the months of July, August and September, which represents a 55% decrease compared to the same period in 2016.

Nevertheless, the most significant operations of the quarter took place during the month of September, which, together with the major sale and purchase operations that are in the pipeline, suggests that hotel investment in Spain will accelerate again during the last few months of the year, according to CBRE Hotels. The consultancy predicts that the volume of investment may reach €3,000 million in 2017, which would represent a historical record, exceeding even the figure registered in 2015.

According to data collected by CBRE Hotels, between July and September, investors spent €240 million on the purchase of hotel assets, including not only hotels per se but also tourist apartments, aparthotels and plots of land and buildings dedicated to hotel use. In total, 22 assets were transacted (involving 2,500 rooms), with holiday hotels accounting for the lion’s share (65%) of the total amount invested (and representing 80% of the rooms sold).

In terms of the destination of investments, in the urban sphere, deals were very evenly distributed between Spain’s main cities: Madrid, Barcelona, Málaga, Granada, Valencia and Bilbao. Nevertheless, in the holiday segment, investors spent 45% of their total investment in the two archipelagos (i.e. in the Canary and Balearic Islands).

In terms of the most significant operations, within the holiday perimeter, the acquisitions undertaken by Portobello Capital stand out – it was the most active investor during the third quarter of the year, starring in the purchase of several assets/stakes in hotels managed by Blue Sea Hotels & Resorts. In the urban segment, the most high-profile purchase involved Hotel Parque Central de Valencia by Senator Hotels & Resorts.

In the end, and just like during the first two quarters of the year, CBRE Hotels also brokered two operations during the third quarter. Firstly, it intermediated the sale of Hotel Dolce Sitges (5* and 263 rooms), which also became the most significant transaction of the quarter (in both the hotel and urban segments). On the other hand, the company executed the sale of a plot of land in Bilbao destined for the construction of the first hotel in the city of the Catalonia Hotels & Resorts chain. For Jorge Ruiz, Director of CBRE Hotels in Spain, “the unprecedented performance of the hotel sector during the first half of the year, both in terms of investment and operations, added to the volume transacted during the third quarter and the projects underway, suggest that investment in the sector could reach €3,000 million this year, whereby exceeding the record set in 2015”.

Original story: Observatorio Inmobiliario

Translation: Carmel Drake