The property management company’s real estate division has acquired Hotel Occidental 1929 Barcelona and Vinnci Selección Málaga.
Invesco RE has invested in two hotels in Spain. The American asset manager’s real estate division has finalised the acquisition of three hotels, two of them in Spain.
Specifically, Invesco has added the Hotel Occidental 1929 in Barcelona and the Vinnci Selección in Malaga to its portfolio. Together with the Holiday Inn Express The Hague, in the Netherlands, the management company paid close to 100 million euros.
“The acquisitions in Spain represent an opportunity to acquire prime, centrally located assets in two of the country’s most dynamic markets. Invesco believes that the limited new supply in Barcelona should allow for a faster market recovery than in other locations. In Malaga, demand has consistently outstripped supply since 2014, and the city was placed at the forefront of Spain’s tourism recovery in 2021,” Invesco stated.
The Hotel Occidental 1929 has 152 rooms and several gastronomic spaces. It also has a roof terrace with a swimming pool, gym and a car park with 51 parking spaces. The Vinnci Selección is located in Marbella and has five stars. It has 137 rooms.