Another hotel has been sold in Spain. After a few months of investor apathy for this type of asset, the summer of 2021 is witnessing an array of important transactions in the holiday sector and urban.
Such is the case of the sale of the Apolo hotel in Barcelona. Its owner, the US fund manager Värde Partners, launched the sale process of this four-star hotel operated by the Mallorcan group Meliá.
Located in the Paralelo area, with 314 rooms, the asset attracted the interest of several international investors. In the end, the Canadian fund Brookfield was the finalist in the process, with an offer of 94 million euros. Brookfield’s bid included a change of operator, as its intention was for the Catalan establishment to be managed by its own brand.