Consisting of 17 assets, this is the largest hotel portfolio ever transacted in Spain
News release
04 September 2023
JLL advises Equity Inmuebles on sale of their hotel portfolio
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LONDON / MADRID, 5 September 2023 – JLL has successfully advised Equity Inmuebles, which is mostly owned by the Calero, Briones, and Mazin families, on the landmark sale of the largest hotel portfolio in Spain.
A large Middle East sovereign wealth fund has acquired the 17-hotel asset portfolio, marking a significant step up in its presence in Spain as it continues to expand its international real estate portfolio.
The portfolio comprises full-service hotels strategically located across Spain's most popular tourist regions, with a significant portion situated in Madrid, accounting for over 37% of the room count. The hotels offer exceptional real estate quality and diversity of locations, catering to various segments, including winter and summer leisure destinations, as well as corporate and MICE business.
Among the notable assets within the portfolio is the ME Reina Victoria by Meliá, an iconic hotel in Madrid's Plaza de Santa Ana. This historic 19th-century palace, featuring a stunning modernist façade, offers guests panoramic views of the capital from its rooftop bar.
Leading the transaction on behalf of Equity Inmuebles, JLL's Hotels & Hospitality Group demonstrated their expertise in managing the complex deal. The team, including Patrick Saade, Senior Managing Director, Ana Ivanovic, Head of Spain Hotels Transactions, and Rui Diogo, Vice President, successfully packaged the deal, highlighting the potential for growth through targeted CapEx programs, revenue management initiatives, and overall market expansion. The seller was also advised by Perez-Llorca (legal) and Cuatrecasas (Tax).
Patrick Saade, Senior Managing Director of EMEA Hotels & Hospitality Capital Markets at JLL, commented: "This historic transaction signifies a major milestone in the real estate market. The strong interest from global investors, particularly from the Middle East, who accounted for nearly 50% of transaction volume in Spain as of August 2023, underlines the resilient and appealing nature of the hospitality sector. It continues to be a prime focus for investors seeking dynamic opportunities within the real estate asset class."
JLL, with its global reach, connectivity, and extensive experience in the hotel sector, remains committed to shaping the future of real estate and delivering exceptional results for clients worldwide.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.