Abu Dhabi invests 600 million in the purchase of 17 hotels in Spain
The Abu Dhabi Investment Authority (ADIA) closed the week with one of the most important hotel operations in recent years. The transaction is the most relevant in the hotel segment, even surpassing the amount of some operations recorded in 2018, a year where record highs were made with investments of €4.81 billion.
It was confirmed that the contract was sealed this week and the transaction was finalized at around EUR 600 million, down from the EUR 700 million at which the deal was initially agreed between buyer and seller.
The transaction will have to be approved by the European competition authorities, which could veto it.
The seventeen hotels agreed in the contract are: the ME Madrid Reina Victoria hotel (the most representative) located in the center of Madrid, along with five other Meliá hotels in Madrid, Marbella, A Coruña, Chiclana de la Frontera and Baqueira Beret.
Eight remaining hotels of the Tryp brand (two of them are located on Madrid's Gran Vía) and three properties of the Sol brand.
The hotels originally belonged to the Equity Inmuebles fund. The firm comprises the Calero, Briones and Mazin families and is related to the Tryp chain, which since 1999 has been allied with Meliá.
So far, this is the third agreement signed by the Balearic hotel company with ADIA to increase the volume of its hotel business. The consulting firm JLL advised the selling party. The previous agreement was for seven hotels with joint participation of the Balearic hotel company and the Avenue Capital fund.
According to the sellers' sources, Meliá will continue to manage the aforementioned hotels. In fact, the most representative hotels in the transaction are expected to undergo a renovation and transformation process supervised by Meliá.
Just three weeks ago was the Balearic hotelier's last alliance, when it reached an agreement with Banca March to create a Joint Venture. There were three hotels in which the financial entity kept 80% of them and the remaining 20% Meliá, which will operate the properties. The deal consists of one hotel in Ibiza and two in Fuerteventura: Sol Beach House Ibiza, Meliá Fuerteventura and Innside Fuerteventura.
Search for a property by municipality: Homes
- Homes for sale in Álava
- Homes for sale in Albacete
- Homes for sale in Alicante
- Homes for sale in Almeria
- Homes for sale in Asturias
- Homes for sale in Ávila
- Homes for sale in Badajoz
- Homes for sale in Baleares
- Homes for sale in Barcelona
- Homes for sale in Burgos
- Homes for sale in Cáceres
- Homes for sale in Cadiz
- Homes for sale in Cantabria
- Homes for sale in Castellón
- Homes for sale in Ciudad Real
- Homes for sale in Córdoba
- Homes for sale in Cuenca
- Homes for sale in Gerona
- Homes for sale in Granada
- Homes for sale in Guadalajara
- Homes for sale in Guipúzcoa
- Homes for sale in Huelva
- Homes for sale in Huesca
- Homes for sale in Islas Baleares
- Homes for sale in Jaén
- Homes for sale in La Coruña
- Homes for sale in La Rioja
- Homes for sale in Las Palmas
- Homes for sale in León
- Homes for sale in Lérida
- Homes for sale in Lugo
- Homes for sale in Madrid
- Homes for sale in Málaga
- Homes for sale in Murcia
- Homes for sale in Navarra
- Homes for sale in Orense
- Homes for sale in Palencia
- Homes for sale in Pontevedra
- Homes for sale in Salamanca
- Homes for sale in Santa Cruz de Tenerife
- Homes for sale in Segovia
- Homes for sale in Sevilla
- Homes for sale in Soria
- Homes for sale in Tarragona
- Homes for sale in Teruel
- Homes for sale in Toledo
- Homes for sale in Valencia
- Homes for sale in Valladolid
- Homes for sale in Vizcaya
- Homes for sale in Zamora
- Homes for sale in Zaragoza
- Homes for rent in Álava
- Homes for rent in Albacete
- Homes for rent in Alicante
- Homes for rent in Almeria
- Homes for rent in Asturias
- Homes for rent in Ávila
- Homes for rent in Badajoz
- Homes for rent in Baleares
- Homes for rent in Barcelona
- Homes for rent in Burgos
- Homes for rent in Cáceres
- Homes for rent in Cadiz
- Homes for rent in Cantabria
- Homes for rent in Castellón
- Homes for rent in Ciudad Real
- Homes for rent in Córdoba
- Homes for rent in Cuenca
- Homes for rent in Gerona
- Homes for rent in Granada
- Homes for rent in Guadalajara
- Homes for rent in Guipúzcoa
- Homes for rent in Huelva
- Homes for rent in Huesca
- Homes for rent in Islas Baleares
- Homes for rent in Jaén
- Homes for rent in La Coruña
- Homes for rent in La Rioja
- Homes for rent in Las Palmas
- Homes for rent in León
- Homes for rent in Lérida
- Homes for rent in Lugo
- Homes for rent in Madrid
- Homes for rent in Málaga
- Homes for rent in Murcia
- Homes for rent in Navarra
- Homes for rent in Orense
- Homes for rent in Palencia
- Homes for rent in Pontevedra
- Homes for rent in Salamanca
- Homes for rent in Santa Cruz de Tenerife
- Homes for rent in Segovia
- Homes for rent in Sevilla
- Homes for rent in Soria
- Homes for rent in Tarragona
- Homes for rent in Teruel
- Homes for rent in Toledo
- Homes for rent in Valencia
- Homes for rent in Valladolid
- Homes for rent in Vizcaya
- Homes for rent in Zamora
- Homes for rent in Zaragoza