Tag: sales of hotels

UK’s Reuben Brothers Buy the Hotel Pacha Ibiza

4 January 2020 – The Reuben brothers, the fourth wealthiest family in the UK, have acquired the Hotel Pacha in Ibiza through a joint venture with the Pacha Group. The Reubens will finance Pacha’s expansion in Ibiza and around the world.

The new joint venture will renovate the existing 57-suite hotel and possibly build an extension in the adjoining parking lot.

The deal marks the Reubens third acquisition on Ibiza. The brothers also paid 40 million euros to buy up 166 hectares of protected land on the island.

Los hermanos Reuben, la cuarta familia más rica del Reino Unido, han adquirido el Hotel Pacha en Ibiza a través de un joint-venutre con el Grupo Pacha. Los Reubens financiarán la expansión de Pacha en Ibiza y en todo el mundo.

La nueva empresa conjunta renovará el hotel existente y posiblemente construirá una extensión en el estacionamiento contiguo.

El acuerdo marca la tercera adquisición de los Reubens en Ibiza. Los hermanos también pagaron 40 millones de euros para comprar 166 hectáreas de tierra protegida en la isla.

Original Story: Preferente.com

Translation/Summary: Richard D. Turner

Atom Hoteles Acquires NH Las Tablas for €21.3 Million

3 January 2020 – The socimi Atom Hoteles, which Bankinter and Global Myner Advisors Capital Investment incorporated in 2018, has acquired the NH Las Tablas hotel in Madrid for 21.3 million euros.

The 4-star hotel is located in Madrid at Avenida de Burgos 131. The hotel has 149 rooms and 174 parking spaces.

 

La socimi Atom Hoteles, que Bankinter y Global Myner Advisors Capital Investment incorporaron en 2018, adquirió el hotel NH Las Tablas en Madrid por 21,3 millones de euros.

El hotel de 4 estrellas se encuentra en Madrid, en la Avenida de Burgos 131. El hotel cuenta con 149 habitaciones y 174 plazas de aparcamiento.

Original Story: Expansión

Translation/Summary: Richard D. Turner

 

Atom Hoteles Acquires Hotel in Cádiz for €15 Million

4 December 2019 – The socimi Atom Hoteles has finalised the acquisition of a hotel in Cádiz for 15 million euros. The four-star hotel is located in the city’s historic centre.

The socimi funded the operation using equity but is also studying possible debt financing. Atom Hoteles will also sign a ten-to-twenty year management contract with Hoteles Playa group.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Nordic Leisure Travel Group Acquires Airtours’ Network of Hotels

25 November 2019 – The Ving Group, which recently changed its name to the Nordic Leisure Travel Group, announced that it had acquired the hospitality firm Airtours Resort Ownership Spain (AROE), including RMHI and Movables. The firm operates a total of 2,194 rooms in hotels in Gran Canaria, Fuerteventura, Tenerife, Mallorca and Menorca.

AROE, which sold for an undisclosed amount, owns twelve hotels: the Ocean Beach Club Gran Canaria and Sunprime Atlantic View, in Gran Canaria; Sunwing Fañabé Beach, Tenerife; Sense Bougainvillea, Fuerteventura; Sunprime Waterfront, Sunwing Alcudia Beach, Cala Viñas, Cala’n Bosch, Los Delfines, Panoramic Alcudia, Cala Blanca Sunhotel and Cook’s Club Palma Beach, in Mallorca and Menorca.

The Nordic Leisure Travel Group stated that the twelve hotels are some of the most popular with its customer base via the operators Ving (Sweden), Spies (Denmark) and Tjäreborg (Finland).

Original Story: Tourinews

Adaptation/Translation: Richard D. K. Turner

Soldeu Hotels Acquires Hotel in Andorra for €7.85 Million

21 November 2019 – Soldeu Hotels has acquired the Hotel Kyriad Andorra Comtes d’Urgell, in Andorra, from the Daguisa Hotels Group for 7.85 million euros. Hotansa, a subsidiary of Soldeu, will manage the 169-room hotel.

Cushman & Wakefield new Spanish hospitality division advised Daguisa on the sale.

Original Story: El Economista

Adaptation/Translation: Richard D. K. Turner

Millenium Acquires Hotel Meliá Bilbao for €49.2 Million

8 November 2019 – Millenium Hotels has acquired the Meliá hotel in Bilbao for 49.2 million euros, according to a note sent to the Alternative Stock Market (MAB).

The hotel is located between the Euskalduna Palace and the Guggenheim, in the Basque Country. The previous owners of the asset included the Riberas family, which controls Gestamp. Meliá will continue to manage the hotel business.

Original Story: Cinco Dias – A. S.

Adaptation/Translation: Richard D. K. Turner

Portobello Capital to Sell Year’s Largest Portfolio of Hotel Assets

8 November 2019 – Portobello Capital is selling the properties where the Blue Sea Hotels & Resorts chain operates for an estimated 230 million euros. The sale, which would be the largest of the year, would separate the properties from Blue Seas’ hotel management business.

The portfolio of properties includes sixteen assets with a total of about 3,300 rooms.

Original Story: El Economista – Alba Brualla / Araceli Muñoz

Adaptation/Translation: Richard D. K. Turner

Millenium Acquires Asturias Hotel in Madrid from Platinum for €82 Million

1 November 2019 – The socimi Millenium has acquired the former Asturias hotel in central Madrid from the Platinum Estates group, which is controlled by the Hong Kong-based investor Harry Mohinani, for €82 million.

Millenium plans to refurbish the hotel and reopen it in 2021 in conjunction with Marriott’s W Hotels brand., The hotel is on the central Madrid square of Canalejas.

The 5-star, 136-room hotel will have furniture inspired by angels’ wings, round beds and bathrooms with transparent walls. The larger rooms will have work areas, dressing rooms and terraces with private jacuzzis.

Original Story: Expansión – Rocío Ruiz

Adaptation/Translation: Richard D. K. Turner

Millenium Hotels in Talks to Acquire the Former Asturias Hotel in Madrid

24 October 2019 – The Millenium Hotels socimi is in the midst of negotiations to acquire the former Asturias hotel on Madrid’s Plaza de Canalejas from the Hong Kong-based fund Platinum. The property, which includes two adjacent buildings with a total area of about 13,000 square meters, is reportedly worth 80 million.

It is believed that Marriott, which intends to open its first Marriott W hotel in Spain’s capital on the site, will invest another €25 million to renovate and tailor the asset to conform to the brand’s exigencies.

The future 5-star hotel will have 136 rooms on seven floors.

Original Story: Expansión – Rebeca Arroyo

Adaptation/Translation: Richard D. K. Turner

Alantra REIM Acquires NH Sotogrande in Cádiz

8 October 2019 – Alantra has finalised the acquisition of the NH hotel in Sotogrande, Cádiz, through its subsidiary Alantra REIM.

Alantra REIM’s portfolio will now comprise three assets: the Hotel Dénia La Sella Golf Resort & Spa, the Islantilla Golf Resort (both acquired in 2018) and the NH Sotogrande. The latter hotel is a four-star unit with 96 rooms. The hotel also has other facilities such as a swimming pool and paddle tennis courts.

Original Story: El Economista – Araceli Muñoz / Rubén Esteller / Alba Brualla

Adaptation/Translation: Richard D. K. Turner