Eurostars Purchases Hotel Abba Centrum Alicante

5 December 2018 – Real Estate Press

The Eurostars hotel chain is growing in Alicante. Hotusa, one of the firms belonging to the group, has completed the purchase of the Hotel ABBA Centrum, which it has been negotiating since September.

The amount of the operation has not been revealed, although market sources calculate that it could fall in the range of €12 million to €15 million.

The intention of the chain is to reopen the hotel in January as the Eurostars Centrum, and so the work that it is going to carry out in the building is minimal. In fact, the hotel chain’s website is already accepting reservations for the new hotel in the centre of Alicante from next month. According to sources familiar with the operation, the Hotusa group brand will subject the property to a detailed review to get it ready and will continue to operate it without carrying out any renovation work, at least for the time being.

With this acquisition, Eurostars is growing in Alicante and is whereby adding its third 4-star establishment to its portfolio in the Alicante capital. To date, the chain operates the Eurostars Lucentum, in the former headquarters of the now defunct Banco de Alicante on Avenida de Alfonso X el Sabio, opposite the Central Market, and the Eurostars Mediterranea Plaza, in the same square as the Town Hall. In all cases, the Eurostars hotels are 4-star establishments and offer mid-range prices, in modern buildings and in iconic urban locations.

The chain has more than 100 hotels across fifty destinations, all of which are medium-high end and, in general, housed in unique buildings. The hotel arm of the group is completed with Exe Hotels (60 establishments in Europe and Latin America) and Ikonik Hotels. In addition to its own establishments, the group has around 300 establishments associated with its hotel representation division throughout the world.

In the case of Alicante capital, and in parallel to the negotiation with ABBA Centrum, the chain has also been sounding out the market in the San Juan beach area of Alicante capital, although in that case, the operation has not come to fruition. In that area, the hotel that would be best suited to Hotusa’s plans is Alicante Golf, which is currently managed by the Husa chain, but there has not been any progress on that front for the time being.

Original story: Real Estate Press

Translation: Carmel Drake

Grupo Hotusa Buys Hotel Eurostars Gran Valencia from Atitlán

15 June 2018 – Expansión

Grupo Hotusa is continuing to increase its portfolio of assets under ownership. The corporation chaired by Amancio López Seijas has purchased the Hotel Eurostars Gran Valencia, which the company has been managing through its hotel chain Eurostars.

The investment firm Atitlán – led by Aritza Rodero and Roberto Centeno, son-in-law of the owner of Mercadona, Juan Roig – was the owner of 66% of the hotel, according to explanations from market sources speaking to Expansión.

The hotel, located in the upper part of Torre Ademuz, has 110 rooms and a 4-star rating. Specifically, the Eurostars Gran Valencia occupies the upper floors of the building located on Avenida de las Cortes in Valencia, between the Palacio de Congresos and the future Nou Mestalla stadium.

Horwath HTL has advised the sales process, which began last year and which has been delayed for months due to the complexity involved.

Other purchases

In addition to the Hotel Eurostars, the building houses two hotels owned by Ilunion, which used to be managed by Accor, as well as a gym and a parking lot.

With this operation, Grupo Hotusa is taking another step in the framework of its expansion and purchasing plan, which extends both nationally and internationally. In this way, in May, Hotusa purchased Hotel Barceló Thalasso, located in Estepona (Málaga) from Sabadell and in March, it acquired the hotels Eurostars Gran Hotel La Toja and Eurostar Isla de la Toja in O Grove, Pontevedra, from Banco Popular.

The hotel consortium created in Barcelona in 1977 closed last year with a turnover of €1.24 billion, up by 15%.

The Eurostars Hotels chain, created by Grupo Hotusa in 2005, has around 100 establishments in large Spanish capitals and other international destinations such as New York, Paris, Berlin, Rome, Naples and Venice. Moreover, the group owns more than 50 hotels through its Exe Hotels chain.

Meanwhile, Atitlán is continuing with the divestment of its hotel properties with this operation. In this vein, a few months ago, it sold a portfolio of six establishments to Atom, the Socimi promoted by Bankinter (…).

Original story: Expansión (by R. Arroyo & A. C. Álvarez)

Translation: Carmel Drake

The Hotusa Group Buys The Sheraton Madrid Mirasierra Hotel

11 December 2015 – Cinco Días

The Hotusa Group has bought the Sheraton Madrid Mirasierra Hotel & Spa, which it will incorporate into its Eurostars Hotel chain. It will operate the establishment as a 5-star hotel under the commercial name Eurostars Suites Mirasierra, as part of the on-going growth strategy of its hotel division, pursued since its creation in 1994.

With this acquisition, whose consideration has not been disclosed, Eurostars Hotels adds its eighth establishment in Madrid, where it already owns the ‘Eurostars Madrid Tower‘ (5-star), the ‘Eurostars Monte Real’ (4-star), the ‘Eurostars Plaza Mayor’ (4-star), the ‘Eurostars Zarzuela Park’ (4-star), the ‘Eurostars Gran Madrid’ (4-star) in Alcobendas, the ‘Eurostars Arenas De Pinto’ (4-star) in Pinto and the ‘Eurostars I-Hotel’ (4-star) in Pozuelo de Alarcón.

As a result, the company’s hotel division will operate a total of 18 hotels in the Community of Madrid, of which seven are operated under the umbrella of its other chain, Exe Hotels. In total, the group owns 148 establishments in 18 countries.

“We are committed to the organic growth of our portfolio, based on the incorporation of establishments that we believe we can apply our model to, in order to further boost their growth”, confirmed the President of Grupo Hotusa, Amancio López Seijas, un a statement.

López stated that the chain is open to all types of formula, from purchases, such as in this case, to management, depending on the particulars of each project within its expansion plan.

The 5-star Eurostars Suites Mirasierra has 182 rooms and suites measuring at least 60 m2, and is one of the most important establishments in the capital for holding events, with 17 independent meeting rooms, and the capacity to host up to 850 people. Its accommodation options are complemented by a restaurant and terrace, several bars, an outdoor swimming pool and spa, a gym and health treatment services.

Original story: Cinco Días

Translation: Carmel Drake