Tag: Double Tree

Emilio Cuatrecasas Buys Empordà Golf For €20M

10 July 2017 – Expansión

Emilio Cuatrecasas is continuing his commitment to the Costa Brava. A group of investors led by his holding company, Emesa Corporación, is finalising the purchase of Empordà Golf Resort from Habitat Inmobiliaria for around €20 million. The operation involves two 18-hole golf course in Gualta (Girona) and a hotel complex, which has 87 rooms and which is managed by Double Tree by Hilton.

The resort had awakened interest from other investors, but in the end, the lawyer has taken the lead in the bidding. The operation will now begin a due diligence phase. The group led by Emesa will go on to control 90% of the capital of the sports facility given that the remaining 10% will continue in the hands of numerous small shareholders, who are also members of the golf course.

The complex was constructed in 1996 by the Figueras family – the former owners of Habitat – and, since the beginning, its members have included well-known Catalan business people, such as Emilio Cuatrecasas himself, Pedro Fontana and members of the Puig, Esteve and Uriach families. Besides the hotel, the resort includes a residential area, with rental apartments and homes.

The purchase of Empordà Golf will not see the asset form part of the chain of rural hotels that Emilio Cuatrecasas is promoting in the Empordá region. In 2016, the lawyer announced his intention of launching a new brand specialising in small, high-end hotels and last summer, he completed his first acquisition: a small palace in Ullastret, which he will transform into a hotel after investing €7 million. Although this asset is located in the lawyer’s target region, the hotel at Empordà Golf does not fit with the profile of unique buildings that he is looking for in that case.

Emesa groups together the business and real estate stakes owned by Cuatrecasas and its assets are worth more than €480 million.

Habitat, which is chaired by Bruno Figueras, continues under the control of banks and international funds.

Original story: Expansión (by M. Anglés and J. Orihuel)

Translation: Carmel Drake

Hilton To Open Hotel In Centre Of Madrid

11 November 2015 – Expansión

The US giant is set to debut its Double Tree brand in the heart of the capital, with a 61-room hotel on Calle San Agustín, which the Pérez Gil family will manage under a franchise agreement.

Hilton is joining the hotel battle in the centre of Madrid. The US group will debut its Double Tree brand in Madrid in 2016, with a hotel in the tourist centre of the capital.

Specifically, it will open a hotel in a building that currently houses offices on Calle San Agustín, Madrid. This building is owned by the Pérez Gil family, which also owns several other hotels in Madrid. The owner will take responsibility for the renovation of the building and will manage the four-star hotel under a franchise agreement.

Hilton, whose only presence in the capital until now has been near the airport, is moving into the centre to compete against Four Seasons and Mandarín, which are preparing to open hotels of their own in the Canalejas complex and in the Ritz, respectively. The US chain also participated in the bid to manage the Hotel Miguel Angel, but in the end that contract was awarded to Bluebay.

Original story: Expansión (by Yovanna Blanco)

Translation: Carmel Drake