Tag: family rooms

French Fund Corum AM Acquires Hotel Cartagonova in Cartagena

6 December 2017 – La Verdad

One of the flagship hotels in the Murcian city of Cartagena is changing hands. The French investment fund Corum AM has acquired the 4-star Hotel Cartagonova, located on Calle Marcos Redondo. The property is going to be operated by B&B Hotels on a lease basis for at least fifteen years, according to a statement issued yesterday by the international chain.

The amount paid for the economic operation has not been disclosed. The establishment is going to be renamed B&B Hotel Cartagena and will see 100 rooms of varying sizes go on the market, ranging from individual rooms to suites and family rooms – all of them have been redesigned and modernised in recent years. Moreover, the hotel has a lobby, a meeting room, 31 underground parking spaces and several free services for its guests. According to the buyers, the condition of the facilities is very good, and so they only plan to carry out minimal changes to bring the property in line with the standards of B&B Hotels. The company defines itself as a specialist in “comfortably designed accommodation, offering select high-quality services, at an attractive price”.

The interest from the hotel company in establishing a presence in the tourist city, which is “growing fast” and benefits from a strategic location, has been key to the success of the operation. Its executives have not failed to notice that the port of Cartagena is the country’s fourth busiest in terms of goods traffic. Moreover, the hotel is positioned in a very central location, both for those travelling for pleasure and for business.

“The new B&B Hotel Cartagena has excellent facilities and an unbeatable premium location. It has been designed carefully and will allow us to continue offering our guests high-quality accommodation at an unbeatable price across Europe”, said the chain’s Director of Expansion in Spain, Teresa Pérez.

The company that operates the property formerly known as Hotel Cartagonova owns twenty establishments all over Spain. It closed the first half of this year with a turnover of €13 million. In recent months, it has opened hotels in Madrid’s Puerta del Sol and in the city of Vigo.

Original story: La Verdad (by Gregorio Mármol)

Translation: Carmel Drake

HI Partners Buys 2 Princess de Estepona Hotels For Matutes

8 July 2016 – Preferente.com

The fund HI Partners is on the verge of completing the purchase of two hotels from the Princess de Estepona chain, which will be operated by Matutes under the Hard Rock brand. The agreement is due to be signed on 15 July.

HI Partners and the Cabrera family, owner of the Princess hotel chain, have been negotiating this deal for more than six months. Matutes was the group chosen by the funds to operate the two properties from the get-go.

Initially, the Ibiza-based group analysed the conversion of the complex into a Ushuaïa model hotel, but in the end it is going to opt for the Hard Rock brand, just like it is doing in other Spanish destinations outside of the island of Ibiza.

The representatives of HI Partners held meetings with members of the Cabrera and Matutes families in Ibiza, when they visited the island in the middle of May. There, they saw the operations of Ushuaïa at first hand.

The fund Starwood holds a stake in HI Partners, but the fund’s main shareholder is Banco de Sabadell, which has a strong presence in the hotel sector. The fund previously tried to close a deal with the Amengual family, but that did not go ahead in the end.

The hotels in question are the Andalucía Princess, a four-star 383-room property; and the Costa del Sol Princess, with 118 rooms (including 15 family rooms) and 12 suites.

Original story: Preferente.com

Translation: Carmel Drake