Jordi Mestre, the Catalan executive, announced that his firm had reached an agreement with Brookfield to sell the Selenta hotel chain to the Canadian firm and private real estate funds managed by Brookfield Asset Management. It is the largest transaction in the hotel sector so far this year for the Spanish market.
Brookfield will acquire 100% of the management group and its portfolio of four hotels for €440 million. The assets consist of the Sofia Barcelona Hotel, Expo Barcelona, Don Carlos Resort & Spa (Marbella) and Mare Nostrum Resort (Tenerife). In total, the establishments have more than 2,200 rooms.
The hotels will continue to operate under the ‘Selenta Group’ brand. The company will continue to be led by Albert Tomàs, general manager, Georgina Mestre, assistant general manager, and third generation of the Mestre family. In the transaction, the real estate consultancy Colliers International advised the buyer.