Significant investment deals have recently been completed in the European hotel industry, showcasing continued investor interest in new acquisitions. Recent data from HVS reveal a flurry of transactions, particularly in the Spanish hotel market.
One notable acquisition is by the Spanish fund manager Bet Capital Group, led by Alfonso Bayon, who has purchased the Spanish hotel chain Izan Hoteles. Izan Hoteles boasts five hotels with a total of 663 rooms spread across Spain. Among these, three are operated by Izan, namely the four-star, 400-room Hotel Izan Cavanna in Murcia, the four-star, 77-room Hotel Izan Trujillo in Caseres, and the four-star, 50-room Hotel Izan Puerta de Gredos in Avila. The other two hotels, the four-star, 86-room Hotel NH Collection Cáceres Palacio de Oquendo in Cáceres, and the three-star, 50-room Hotel Prado Real near Madrid, are managed by third parties.
Looking ahead, Bet Capital Group plans to continue acquiring hotels and land for development in the southern coastal regions of Spain, focusing on existing hotels without management operators or tenants.
Meanwhile, in Spain, Ona Hotels & Apartments has acquired the four-star, 100-room Hotel Princesa Playa in Marbella and the three-star, 159-room Hotel Las Rampas in Fuengirola. Both properties will be rebranded under the Ona brand as Ona Princesa Playa Aparthotel and Ona Las Rampas Hotel, respectively. Ona Princesa Playa is set to undergo a €5 million renovation programme, equating to €50,000 per room.
The goal for Ona Hotels & Apartments is to own 50 hotels by the end of 2024, with their current portfolio comprising 43 hotels in Spain and one in Andorra.
Another significant investment in the Spanish hotel sector involves Grupo Fagra, a Spanish investment firm, acquiring the five-star, 144-room Occidental Castellana Norte hotel in Madrid from French-listed Covivio. Located in the northern part of Madrid, approximately ten minutes from Madrid International Airport, the hotel, operational since 2008, will now be under Grupo Fagra’s management.
