Colliers International Hotel división has advised an international investment fund on the sale of Tryp Zaragoza hotel to Grupo Fagra, spanish private investor who has been advised by Catella RE firm. The amount of the operation, which includes a commercial premise of more than 2,000 sq m leased to Mercadona, has not transcended.
Tryp Zaragoza hotel has been operated by Meliá under the Tryp by Wyndham brand since its opening in 2007 and has 4 stars, 162 rooms and 52 parking spaces. The new property - the Fagra Group - has assumed the independent management of the hotel and will operate now under the trade name, AVE Zentral Zaragoza.
This transaction “confirms the enormous liquidity of the hotel sector in Spain, in which we see more and more transactions in secondary cities and greater interest of the Spanish private investor.” - states Laura Hernando, Managing Director Hotels of Colliers International. According to Javier Bravo, responsible for the Catella Hotels division, “Due to the yields compression, cities like Zaragoza have been in the investors spotlight, since they offer more attractive returns. In fact, Zaragoza has been the protagonist of several hotel transactions this year, confirming the growing investment interest beyond Madrid and Barcelona.”
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