- The Canadian, Brookfield Asset Management, has acquired a portfolio of 4 hotel assets from Selenta Group for 440 million euros
- This transaction comprises 4 hotel assets and 2.237 rooms, all located in prime destinations. The Mare Nostrum Resort complex in Tenerife is the largest hotel asset by rooms, transacted in 2021.
Colliers (NASDAQ: CIGI; TSX: CIGI), a global leader in advisory services and investment management in real estate, has advised the Canadian manager Brookfield Asset Management on the purchase of Selenta Group for 440 million euros, the largest hotel investment operation completed during the course of the year in the Spanish market.
The transaction comprises 2,237 rooms and 4 hotel assets: the Hotel Sofia Barcelona (5*- 465 rooms) operated under the brand ‘The Unbound Collection by Hyatt’, the Hotel Expo in Barcelona (4* - 435 rooms ), the Hotel Don Carlos Resort & Spa (5* - 299 rooms), one of the most emblematic luxury hotels in Marbella, and the holiday resort Mare Nostrum Resort,Tenerife (5* - 1.037 rooms), the largest hotel asset transacted in 2021 in Spain. All the hotels are located in prime destinations and Selenta Group will continue to operate with them.
"This transaction allows Brookfield to acquire a portfolio of quality assets in the main Spanish tourist destinations, as well as a consolidated management platform from which to develop its growth plan in Spain. The operation is postulated, for the moment, as the largest volume of the year, surpassing even the purchase by Riu Hotels & Resorts of the minority stake (49%) in its joint venture with the tour operator TUI, still to be formalised" - Comments Laura Hernando, Managing Director of Hotels at Colliers Spain.
A historic month of July for hotel investment in Spain
Investors continue their frantic race in the Spanish market. By the end of July, the hotel investment accumulated in the year stands close to 2,000 million euros. In July alone, hotel assets for more than €880 million were transacted, which represents approximately 45% of the total hotel investment invested in 2021.
Prime assets in tourist destinations (both urban and holiday) continue to be the “stars”. As Colliers anticipated in the hotel investment report for the first half of 2021 in Spain, these have proven to enjoy high liquidity and allow divestments with minimal discounts on pre-Covid valuations.