The Canadian fund Brookfield is finalising its acquisition of the Selenta hotel chain for between 420 million and 430 million euros. Its offer is the best positioned ahead of others by Goldman Sachs and Stoneweg-Bain, according to Ejeprime.
Brookfield is negotiating to acquire on an exclusive basis and has already started the due diligence phase, looking to finalise before July 31. The hotels included in the transaction include the Sofia and Expo hotels in Barcelona; Don Carlos, Marbella; and the Mare Nostrum resort in Tenerife. The Expo Hotel in Valencia was not included. In total, the portfolio of the Mestre family’s chain totals 2,600 rooms.
If the deal is closed, it would be a sale & leaseback operation, and Selenta would continue to operate the hotels.